In an era where digital security is paramount, blockchain technology emerges as a transformative force for cloud services. Offering unparalleled transparency, immutability, and trust, blockchain stands to revolutionize how we secure our data and transactions in the cloud. For our clients and partners, this means an elevated layer of security through immutable audit trails, guaranteed data integrity, and innovative approaches to identity management. By decentralizing security, blockchain technology not only enhances protection but also redefines trust in the digital space.
As we navigate this journey together, the integration of blockchain into cloud services promises to fortify our digital defenses and pave the way for a more secure and trustworthy digital ecosystem.
Blockchain: a game-changer for healthcare and finance sectors
Widely known as a disruptive technology with the potential to transform many industries, blockchain has evolved much over the years. In the early days, blockchain was primarily used for cryptocurrency transactions. Today, blockchain is being used by a multitude of businesses and organizations for a broad spectrum of applications including supply chain management, healthcare and finance. The global blockchain market is expected to grow at a compound rate (CAGR) of 87.7% from 2023 to 20301. The growth of blockchain is propelled by a number of factors including:
- Rising demand for secure and transparent transactions
- Need for a more efficient way to track and manage data
- Potential for blockchain to disrupt traditional industries
Cloud computing can offer the foundational infrastructure that is needed to support blockchain applications. Here, we explore the challenges that partners encounter during the deployment of blockchain solutions for their clients, and how OVHcloud can help partners to overcome these challenges.
Decentralization: enhancing your blockchain technology
Decentralization is a key feature of blockchain technology and refers to the distribution of nodes across a network. However, any hosted node can be vulnerable to attacks from malicious actors targeting any hosting service, making it difficult to defend. Distributed denial-of-service (DDoS) attacks, a common security threat in blockchain that have caused significant disruption to blockchain networks, can disrupt and prevent legitimate users from conducting transactions leading to financial losses for businesses that rely on its functionality.
By default, all OVHcloud products are delivered with Anti-DDoS protection. We operate our own large distributed global network that provides enough throughput to mitigate attacks, no matter where they originate. Partners can also customize protection rules via the control panel if they have additional requirements. As such, OVHcloud’s partners are reassured by our commitment to ensure optimal security for their infrastructure, hosted with OVHcloud.
In addition, the decentralised nature of blockchain networks makes them reliant on multi-locality of a cloud service provider. With OVHcloud’s 37 datacenters globally, partners can leverage on OVHcloud solutions to scale their resources as needed when their network grows, without having to worry about managing the hardware. Blockchain platforms are designed to be scalable, meaning they can be easily expanded to accommodate more nodes. We help partners to quickly adapt their infrastructure to meet changing demand.
Costs: how to make the most out of OVHcloud best price-performance ratio?
The cost of setting up and maintaining a blockchain network can be significant, and typically includes cost of blockchain application development, hardware and initial node deployment. Ongoing maintenance costs involve hardware maintenance, security and compliance adaptation. OVHcloud offers pay-as-you-go pricing to help clients reduce cost and save on unused resources. We provide a transparent pricing structure to allow partners to budget efficiently and keep their clients well informed.
Depending on the blockchain network, ingress and egress traffic may be high if the network is used to process a large number of transactions. Simply put, ingress is the flow of data into the cloud while egress is the flow of data out of the cloud. OVHcloud does not charge ingress and egress traffic for all data moving in and out of our European and North American data centres. Our performance/price ratio is among the best in the market, enabling partners to stay competitive with predictable pricing structure.
Compliance
Compliance in blockchain is an ongoing process. As laws and regulations evolve, organizations need to be prepared to adapt to the changes. Some of the most common compliance-related issues that arise with blockchain technology are data security and data sovereignty.
We certify our solutions to the highest security standards to demonstrate our commitment to data security and sovereignty. In sectors such as supply chain, banking and finance, and healthcare, where blockchain is finding new uses, we are taking a tailored compliance approach to meet the specific needs of these industries. For instance, ISO 27001/27017/27018, ISO 27701, ANSSI SecNumCloud, PCI DSS and GDPR.
Partnerships: Use OVHcloud Know-How to Leverage Your Business
At OVHcloud, we work with partners like Zeeve DeepTech which has a wealth of expertise in blockchain technology. Zeeve DeepTech helps clients with their enterprise-grade automation platform that provides deployment, monitoring and management of blockchain nodes and networks while OVHcloud offers the underlying infrastructure that businesses need to run the blockchain applications on.
As blockchain technology develop, OVHcloud will continue to work with partners to harness the full potential of the technology and address any challenges they may face.
Sources:
- https://www.grandviewresearch.com/industry-analysis/blockchain-technology-market
Find out more on blockchain!
Our dedicated web page: https://www.ovhcloud.com/en/learn/what-is-blockchain/
Our labs page: https://www.ovhcloud.com/en/case-studies/bware-labs/
Our other blog post on How To Use Cloud to Solve Blockchain Challenges: https://blog.ovhcloud.com/how-to-use-cloud-to-solve-blockchain-challenges/
Our Whitepaper: https://www.ovhcloud.com/en/powering-your-blockchain-technology-with-cloud/
Omar Abi Issa is an award winning Blockchain Expert, with over 7 years of experience working with clients in the B2B SME/Enterprise areas. Specialising in helping tech companies with a strong focus on blockchain sector achieve higher performance and lower operational costs.
