IBM, the global tech giant and data storage firm Seagate are now partners in an initiative to make sure that computer hard drivers are authentic, by using blockchain technology.
The companies will use the IBM Blockchain Platform to enhance “a new level of multi-layered security protection to the data management industry,” according to a Seagate press release. The project is expected to benefit other manufacturers, integrators, and business partners.
IBM and Seagate’s solution will provide a method by which all the hard drives produced by Seagate will be logged to the IBM Blockchain Platform in the IBM cloud. Seagate will place a physical marker Seagate SecureTMElectronic ID (eID) on every hard driver produced and the electronic key will be stored on IBM’s blockchain.
The estimated value of global trade in counterfeit and pirated physical goods has reached more than $1.7 trillion in value, according to the International Anti-Counterfeiting Coalition.
“The ability to work with Seagate to combine blockchain with advanced cryptographic product identification technology is what sets this work apart, and signals blockchain’s potential to reimagine the electronics product life cycle management processes. Counterfeit electronic components are a global issue that requires an ecosystem-wide effort to address,” said Bruce Anderson director for IBM Electronics Industry.
According to Bruce, the partnership is significant as it would create an avenue for the companies to ensure that every hard drive in a server can be traced directly back to their manufacturer.
IBM remains a ferocious seeker of blockchain technology development, hence this new enterprise will be used to understand the legitimacy of these pieces of equipment.
Bruce Anderson has also acknowledged that the blockchain technology can be used for many other activities such as ceasing paperwork and even lessening administrative costs of the project. As forging is a severe challenge in the industry, IBM has laid out plans for the technology to be implemented swiftly, and so that it will save a lot of money.
The immutable record of events spanning the product’s provenance and life cycle will be made available to all participants including the technology vendors, service providers, or end users because it is a blockchain technology.
It is expected that the multi-pronged solution will help reduce data loss and confirm product assurance for consumers. Also, lower warranty costs incurred by fake products are expected to reduce because of the new technology.