IBM announced Friday a new set of offerings involving blockchain, the encrypted database architecture best known for its use with Bitcoin.
The company said it will offer a new set of blockchain services running on IBM Cloud and Docker, in addition to setting standards for both security and regulatory compliance.
IBM’s announcement may lay the foundation for other organizations and enterprises to get involved in with blockchain technology.
One of the key appeals of blockchain is that transmissions and movements can be audited through log data. Beyond financial applications it also has potential for a wide range of uses in areas such as education and logistics. The technology is growing in acceptance and many companies, like IBM, are working to get in on the ground floor.
Blockchain is now used for several types of non-Bitcoin financial transactions and other activities that require secure tracking, according to a TechCrunch report. Blockchain enables a "new generation of transactional applications that establishes trust, accountability and transparency while streamlining business processes," according to IBM.
Last month, IBM said it would invest in startups building blockchain-based services. Not long after, the company announced plans to launch "blockchain-as-a-service."
IBM’s new offering "will allow production blockchain networks to be deployed in minutes," according to the company.