Verizon Enterprise Solutions will create global blockchain platform services

NEW YORK – In the ever-evolving security landscape, large enterprises and government agencies are constantly seeking new ways to maintain the integrity of critical infrastructure, protect physical and digital supply chains, and safeguard customers’ essential information systems. Understanding this, Verizon Enterprise Solutions later this year will launch a portfolio of blockchain platform services based on Guardtime’s KSI Blockchain® capabilities. Consumed as a service, Verizon’s enterprise and government customers will be able to integrate proven blockchain solutions into their existing business processes.

“Increasingly, our enterprise customers want to effectively leverage blockchain to meet the security demands from their customers,” said Alex Schlager, executive director security services, Verizon Enterprise Solutions. “They are looking for proven, reliable solutions and Verizon is recognized as a market leader in managed security services. Combining our security expertise with Guardtime’s blockchain platform offers customers an advanced solution.”

The Verizon blockchain platform services will focus on privacy, portability and scalability – adding proven managed security services on top of leading technology from Guardtime. Typically, blockchain technologies require customer data be copied into a blockchain, but with Verizon’s solution that data won’t leave the customer premises. Additionally, Verizon’s solution will work seamlessly around the globe. The service will also scale easily and predictably, regardless of the overall volume of data being monitored.

Guardtime’s KSI Blockchain uses well-known security functions, including Secure Hash Algorithms, Hash Trees, and a distributed consensus protocol to establish an immutable audit trail for data movement within and between organizations. KSI Blockchain is different from other blockchain approaches in several ways:

• Secrecy – the pattern of hashes does not betray the underlying business activity
• Privacy – the data itself never leaves the enterprise
• Scalability – The rate of growth - and speed of response - of the Blockchain is unchanged, regardless of the volume of business
• Time – KSI Blockchain always anchors immutably within one second
• Cross-border and cross boundary – Abstracted meta-data can be moved seamlessly around the globe

“Verizon’s security practice has global scale and a deep understanding of customer security challenges,” said Matthew Johnson, CTO of Guardtime. “Our customers now get proven managed security services to manage our blockchain technology stack.”