U.S. multinational conglomerate, IBM Corp. has recently launched an operational version of its in-house security testing tool for blockchain solutions dubbed X-Force Red. Sources close to the launch state that X-Force Red Blockchain Testing service is designed to test the security of back-end processes for blockchain-based networks to overcome remaining incompetence in enterprise blockchain deployments.
According to a press release, IBM claims that its X-Force Red speculates that around 70% of solutions that use blockchain depend on traditional technologies for backend operations like authentication, data processing and API (Application Programming Interfaces).
It said that the X-Force Red Blockchain Testing service will help evaluate the entire implementation including public key infrastructure, chain code and hyperledgers, and will also test backend applications, processes, and physical hardware used to manage and control access to blockchain networks.
Sources claim that enterprise blockchain, despite recent criticism from within the blockchain sector, has attained substantial growth in recent years, with IBM pushing the industry to a worth of almost $10bn by 2021.
Charles Henderson, Global Head, IBM X-Force Red, said that blockchain is a breakthrough for protecting the integrity of data, however, the solutions that leverage it are still vulnerable to attackers, which is why security testing is essential during development and after deployment.
Sources cite that the product offering will help tackle areas such as detection and access to enterprise blockchain networks, as well as problems like smart contract flaws.
For the record, in February 2017, IBM announced its partnership with the Government of Dubai to pilot blockchain technology in the fields of transportation, trade logistics and the IoT (Internet of Things). Moreover, in August 2018, the company helped the Australian Government to develop a national blockchain network. Recently the company began contributing in a blockchain trial program aimed at tracking groundwater used by farmers in California's Sacramento-San Joaquin River Delta.