By Jamie Redman,
New Jersey-based IPC Systems has partnered with Post-Quantum Solutions to implement biometrics, encryption and blockchain technologies into its Connexus Cloud network.
IPC’s Cloud Will Use Blockchain for Advanced Security
IPC currently specializes in trading turret products and multi-speaker communications devices. Recently the firm launched its Connexus Cloud network, which offers secure communication and data collaboration for financial markets. Post-Quantum offers encryption services that keep its customers’ data safe from theft and fraudulent activity.
Post-Quantum has a list of well-known clientele such as the UK government, Barclays and NATO, while the IPC cloud network connects its community of 200,000 users across 6,000 market participant locations in 700 cities.
Now, the companies will integrate distributed ledger technology with the cloud-based encrypted communications system. IPC’s vice president of product and engineering of the Financial Market Network, Tim Carmody, says this partnership will also help mitigate risk. He states:
Post-Quantum offering these technologies as a service in the IPC ecosystem not only streamlines the ability to integrate biometrics, advanced encryption and blockchain technologies into IPC’s solutions but also makes them available for any providers or customers on IPC’s Connexus Cloud, in a manner designed to be compliant and efficient while mitigating risk.
The Connexus Cloud will deploy the company’s lineup of communications-as-a-service solutions. This will provide clients with an “on-demand and anywhere user interaction model,” the firm explains.
It also plans on announcing numerous partnerships this year that will work with the Connexus Cloud project. One collaborative partner already announced is Algomi, a “network providing information-matching solutions for the optimization of fixed income liquidity.”
Cloud Data to Become More Secure
CEO of IPC, Neil Barua, believes Connexus Cloud users will be able to swiftly and securely connect to their counter-parties. Barua explains:
Financial institutions continue to migrate from on-premise solutions to embrace cloud-based models for infrastructure flexibility. The on-demand access Connexus Cloud provides to our expanding portfolio of IPC and IPC-certified partner products, services and solutions, will foster a growing, dynamic community and the next wave of industry advancements.
Cyber security is on everyone’s lips, particularly since centralized networks have been experiencing a steep rise in cyber attacks in recent years. Thus, the success of such a project could drive clientele like NATO or the UK government to use this blockchain-based solution for securing data and communications.
Meanwhile, many other firms are integrating blockchain technology with the cloud as well. Though Connexus Cloud’s approach focuses more on communications-as-a-service, IT giants such as IBM and Microsoft have been trialling distributed ledger technology with the cloud for some time with a launch expected sometime this September.