IBM block chain? The North Trust said it was really effective

nnnOn Tuesday, IBM released a generic version of its block-chain platform, and a year ago, the tech giant had already launched its block-chain product. Northern Trust said in February that it was using the platform for actual production rather than pilot projects. Now that it has been in the past six months, the Northern Trust has finally harvested the feasibility of this technology for the business This exciting report. According to the head of the Northern Trust, IBM’s block-chain platform is working well, and they have also managed to manage private equity transactions in the chain.n
nnTranslation: Clovern
nAfter six months of using the IBM chain-chain platform to manage private equity transactions, the Northern Trust has finally harvested an exciting report on the viability of the technology, even though it may still be Scalability.n
nArijit Das, an enterprise technology application manager for Northern Trust, said the platform worked well. “That’s what we want to get,” he says, “and we’ve already implemented the money management in the chain.”n
nHe pointed out that the value of private equity is often high, but the volume is very low. “The technology is doing very well for this use case,” Das said.n
nIt is yet to be seen how such a technology brought by Bitcoin to better perform more frequent deals – especially when the network expansion problem recently faced by the Bitcoin community is taking place.n
nn”You can never know where this technology can be used”n
nnA food business alliance is using the IBM block chain to trace the source of contaminated products. “Food safety is just one of the applications that use the core functionality of the block chain,” says one executive.n
nBloomberg Newsn
nIBM on Tuesday announced a generic version of its block-chain platform, which is a toolkit that businesses can use to create and run distributed categorized books. You may sound familiar, because the supplier launched the product a year ago. The Northern Trust revealed in February that it was using the platform – not a pilot project, but for actual production. A group of Bank of Canada also announced in March that it was using the platform to upgrade its digital identity program.n
nThe blue giant’s block chain platform is built on the Linux Foundation’s open source Hyperledger Fabric v1.0. This is a licensed block chain designed for the enterprise and is scheduled to run on IBM’s cloud or internal zLinux mainframes. And the block chain is to provide a certain degree of privacy, security, flexibility and fault tolerance.n
nIn addition, there are other types of enterprise chain chains, including Corda of R3, Quorum of JPMorgan, Global Synchronization Log of Digital Asset Holdings, and other iterative block chains of the Superbook Agreement. (Microsoft also announced last week its open source block chain framework Coco Framework, which provides security and governance control for existing block chain nodes.)n
nDas said:n
nn”All of these blocks have their own advantages, but also provide a very good function, and in terms of super books, the main factor driving us to choose it is that it is designed for the enterprise. A license to the private classification of books, rather than other technologies are around the public classification of books and development, so this is a private license block chain, for their own to bring a wide range of users and identity management.n
nnAt the same time, IBM on Tuesday announced that a coalition of food companies is also using its block chain to trace the source of contaminated food.n
nJesse Lund, global vice president of IBM’s chain and distributed book market, said:n
nn”Food safety is only one of many applications that use the core functionality of the block chain, which tracks food sources and immutability in the food safety field – the ability to track assets over a period of life and the ability to track these assets in a non-traceable manner The characteristics of the mark. “n
nnLund had been in management positions for nearly two decades at Wells Fargo until January, when IBM sent a recruitment invitation to the Innovation Laboratory.n
nHe said there were many similar use cases in the financial services sector, such as trade and transaction clearing and settlement.n
nLund said:n
nn”The core nature of the block chain is a distributed computing and data sharing platform that allows participants to quickly build a transactional business network and avoid the complexity of the data sharing activities of banks today, which facilitates the cooperation of two or more organizations Inter – agency transaction trust relationship and achieved through the use of encryption and distributed computing as well as consensus algorithms.n
nnLund said that the security of the IBM block chain comes from secure key management.n
nHe explained:n
nn”All block-chain solutions and distributed classification books are based on encryption, and the integration of encryption technology requires key management, so the overall integrity of the solution depends on the organization and the network or platform The ability to manage the key itself, and the governance process around the platform where software development and software are actually running, which is what we are doing from the beginning and will be rolled out with the release. “n
nnThe IBM block chain also provides developers with a configuration tool called Hyperledger Composer. Lund said that Composer has a graphical user interface that allows programmers to start from the template and quickly create basic block-chain networks among the participants.n
nLund said:n
nn”You can build a new network and run the network to issue tokens within minutes, and through the tokens to represent the real assets between the participants in the network.”n
nnWhile public attention turned back to the initial use case of the chain chain (Bitcoin and other encrypted currencies were again popular), Lund said that the use of enterprise chain chains would soon be a breakthrough.n
nHe said:n
nn”I think the fourth quarter of this year, we will see a turning point in the field of financial services.”n
nnLund said that the reason for such a change to spend such a long time lies in the bank’s risk profile and mentality.n
nHe said:n
nn”What I have observed in my long-term banking work is that, according to the nature of the industry, they will not be an early adopter, and emerging technologies need faithful followers, but it is reasonable to take into account their privacy and security conditions. They are essentially conservative organizations, and we want banks to take that attitude as a consumer with a bank account, but I think the threat of competitiveness in the financial sector is driving them to change their attitude. “n

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