US-based IBM Corporation Announced New Cloud Services for Blockchain
New York: US-based technology and consulting
services provider company, IBM has announced launch of new cloud services to
help companies in designing and developing blockchain technology in a secured
environment in the cloud. With growth in demand for blockchain technology in
financial markets as a way to resolve inefficiencies in financial industry,
company is focused to provide secured cloud environment enabling blockchain to
run securely in the cloud.
Blockchain,
an underlying technology for the bitcoin is used to perform slew of function,
such as recording and verification of transactions. Various companies such as
Goldman Sachs started using blockchain technology to solve issues in financial
markets. However, the major concern behind rapid adoption of blockchain are the
major concerns about security. The company is focused to resolve security
issues, and is providing cloud services with the highest Federal Information
Processing Standards (FIPS 140-2) and Evaluation Assurance Levels (EAL) to
promote and support usage of blockchain in government, financial services, and
healthcare sector.
Further,
the company also announced opening of IBM
Garage in New York and London. These garages are a kind of research labs on
the blockchain which were created by several major financial institutions, and
are dedicated to help companies in designing and developing their blockchain
networks. Moreover, the company also announced opening of IBM Garage in Tokyo,
London and Singapore in the coming weeks to enable companies in these countries
for the collaboration with IBM experts over designing and implementation of
blockchain for the profitability and efficiency improvement of their business.
TechSci
Research depicts that with the introduction of new cloud services providing
enhanced secured environment for blockchain along with opening of IBM Garage in
several countries would help companies in improving their financial process,
resulting in the rapid adoption of blockchain technology in government as well
as financial markets.
India
is the key market for cloud computing services and according to the recent
published report by TechSci Research,
“India Cloud Computing Market Forecast and Opportunities, 2020”, the
market for cloud computing services in India is projected to grow at a CAGR of
over 22% during 2015-2020. Increased government spending on National Optical
Fibre Network (NOFN) and various e-governance portals, coupled with growing
acceptance of cloud services in SME segment is expected to drive the market for
cloud computing. SaaS is set to top the charts as the largest cloud service
segment, occupying over 40% share in the market by 2020.