Technology giant IBM has released a security testing tool for enterprise blockchain solutions. The testing tool has been developed in-house by the American technology major, and the information was revealed in a press release of the company dated March 5. The tool was released by X-Force Red – a special group within the organization tasked with developing security solutions – and will be used to address the concerns related to systemic inefficiencies while deploying enterprise-wide blockchain solutions.
According to the press release, around 70% of blockchain solutions rely upon conventional technologies for processing backend tasks such as application programming interfaces (API), data authentication, and data processing. The new testing service from IBM will evaluate the whole implementation of the processes including hyperledgers, key infrastructures, and chain code. The testing tool will also assess backend processes to manage and control blockchain networks and solutions more efficiently.
Enterprise Blockchain Solutions
Despite the criticism that enterprise blockchain solutions have received from the industry, more and more organizations are coming forward to adopt these solutions. IBM sees a lucrative business opportunity in this segment which is expected to become a category of worth $10 billion by the year 2021. However, concerns related to the security must be addressed before the enterprise blockchain reaches its true potential.
Noting the concern for data security, Charles Henderson, global head of IBM X-Force Red, said that while blockchain protects the integrity of data, it shouldn’t be presumed that the technology itself is immune from the breaches and thefts. Hence, it is essential that security testing must be conducted during the development of the enterprise blockchain and after its deployment.
The security solution developed by IBM will cater to solve a range of issues such as identifying and accessing network on the enterprise blockchain and teething issues like flaws in the smart contract. So that you know, blockchain tools of the IBM have witnessed a steady growth in demand across the globe and the company is also gaining through the various partnerships it is forging with different organizations across the business segments to further its blockchain business.