HPE, Global Blockchain to create P2P cloud marketplace
It has been revealed that Hewlett Packard Enterprise (HPE) is working with Canadian blockchain startup Global Blockchain Technologies to develop a new proof-of-concept (PoC) peer-to-peer (P2P) marketplace for enterprise cloud services.
The platform will look to match firms that have excess cloud resources with those who are looking to expand their technology-based capabilities built on the Global Blockchain’s Laser Network.
“Emerging technology may soon enable users to experiment in the sharing economy,” said Bill Philbin, Senior Vice President and Chief Technology Officer of Hybrid IT, HPE.
“The goal of the PoC network is to demonstrate how a user can monetize under-utilized storage assets by supplying them to the network, and how they can migrate existing data to the network with minimal disruption.”
The blockchain Laser Network has been selected as the home of the cloud marketplace due to the security benefits that blockchain technology offers, ensuring the efficiency and reliability of decentralized transactions between enterprises.
“This PoC will do for enterprise cloud services what AirBnB did for accommodations,” said Shidan Gouran, President and CEO of Global Blockchain.
“With computing resources becoming increasingly in-demand in enterprise organizations, the ability to buy and sell excess capacity will revolutionise enterprise IT.”
The marketplace has a forecast release date of Q3 2018.
IT Employees Predict 90% Increase in Cloud Security Spending
As companies get back on their feet post-pandemic, they’re going all-in on cloud applications. In a recent report by Devo Technology titled “Beyond Cloud Adoption: How to Embrace the Cloud for Security and Business Benefits”, 81% of the 500 IT and security team members surveyed said that COVID accelerated their cloud timelines. More than half of the top-performing businesses reported gains in visibility. In fact, the cloud now outnumbers on-premise solutions at a 3:1 ratio.
But the benefits are accompanied by significant cybersecurity risks, as cloud infrastructure is more complex than legacy systems. Let’s dive in.
Why Are Cloud Platforms Taking Over?
According to Forrester, the public cloud infrastructure market could grow 28% over the next year, up to US$113.1bn. Companies shifting to remote work and decentralised workplaces find it easy to store and access information, especially as networks start to share more and more supply chain and enterprise information—think risk mitigation platforms and ESG ratings.
Here’s the catch: when you shift to the cloud, you choose a more complex system, which often requires cloud-native platforms for network security. In other words, you can’t stop halfway. ‘Only cloud-native platforms can keep up with [the cloud’s] speed and complexity” and ultimately increase visibility and control’, said Douglas Murray, CEO at cloud security provider Valtix.
Here’s a quick list of the top cloud security companies, as ranked by Software Testing Help:
What are the Security Issues?
Here’s the bad news. According to Accenture, less than 40% of companies have achieved the full value they expected on their cloud investments. All-in greater complexity has forced companies to spend more to hire skilled tech workers, analyse security data, and manage new cybersecurity threats.
The two main issues are (1) a lack of familiarity with cloud systems and (2) challenges with shifting legacy security systems to new platforms. Out of the 500 IT employees from Devo Technology’s cloud report, for example, 80% said they’d sorted 40% more security data, suffered from a lack of cloud security training, and experienced a 60% increase in cybersecurity threats.
How Will Companies React?
They certainly won’t stop investing in cloud platforms. Out of the 500 enterprise-level companies that Devo Technology talked to throughout North America and Western Europe, 90% anticipated a jump in cloud security spending in 2021. They’ll throw money at automating security processes and investing in security upskilling programmes.
After all, company executives will find it incredibly difficult to stick with legacy systems when some cloud-centred companies have found success. Since moving from Security Information and Event Management (SIEM) offerings to the cloud, Accenture has saved up to 70% on its processes; recently, the company announced that it would invest US$3bn to help its clients ‘realise the cloud’s business value, speed, cost, talent, and innovation benefits’.
The company stated: ‘Security is often seen as the biggest inhibitor to a cloud-first journey—but in reality, it can be its greatest accelerator’.