We live in an era of active development and application of distributed Ledger technologies, big data, cloud computing, and cryptocurrencies. There is a great demand for these areas – both from traditional players and from innovators.

The development of these industries creates new requirements for financial services around the world. As digital banking has rapidly spread over the past few years, a number of banks have noticed that their private cloud environments do not provide sufficient momentum for digitalization and have begun to look for solutions in the open cloud that are more powerful, reliable and secure.

Responding to the challenges of the time, Smart Block Laboratory – a registered partner of IBM, a member of the Hyperledger consortium and a silver representative of the Linux community – set a task to create a blockchain infrastructure for digital banking. After more than three years of development, CRYPTOENTER © was created-a unique project based on the Hyperledger Fabric framework. It allows you to conduct cross-border transfers in real time and with minimal fees, with support for all existing Fiat currencies and cryptocurrencies, with the possibility of p2p lending and a social network for investors.

To launch and bring CRYPTOENTER to the market, the Smart Block Laboratory team successfully applied for participation in the startup with IBM startup support program, designed to provide access to IBM resources and expertise totaling up to $120 thousand, including enterprise-class cloud services, IoT technologies, blockchain and artificial intelligence.

Among the cloud services we use is IBM Cloud Object Storage. It is a service for storing unstructured data with a high level of reliability, stability, and security. It also helps you manage and provide access to vast amounts of digital information. In the CRYPTOENTER project, IBM Cloud Object Storage is used for storing all types of data.

The second is the IBM Kubernetes Cluster (IKS). In CRYPTOENTER, this service simplifies application deployment, provides fault tolerance (three data centers connected by high-speed trunks for deployment of masters and nodes for workload), and automatic load balancing, which allows you to more fully use the resources of computing nodes.

The third solution is the Load Balancer service, which increases uptime by distributing traffic and conveniently scaling applications by quickly adding or removing servers with minimal impact on traffic flows. This service is used for balancing incoming connections.

In addition, the security of storing and managing private keys in CRYPTOENTER is provided by the Key Protect service, which allows you to fully control data encryption keys and provides a high level of security for cloud data and digital resources.

Finally, we use Cloud Activity Tracker with LogDNA, which is used to track access to the Key Protect service, and can perform a General event audit function on our IBM Cloud account.

Thanks to the IBM Cloud public cloud, all the tasks were completed, and as a result, there was a blockchain infrastructure for digital banking CRYPTOENTER, which is now in beta testing.

Integration with stores, cross-border transfers in real time, p2p lending, cryptocurrency lending-all these features allow CRYPTOENTER to combine the functionality of interbank payment systems, acquiring services, electronic and telephone payment systems.

In CRYPTOENTER, a user can create their own virtual digital Bank, attract liquidity to expand their business, become an investor and gain control over the intended use of invested funds. The new blockchain infrastructure is presented in the global catalog of IBM partner solutions.

Source : ibm.com

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