Switzerland's Phoenix Systems Selects IBM LinuxONE for its KORE Platform Empowering Digital Assets
KORE digital asset platform backed by Securosys' multi-signature capabilities is now open to new clients
Zürich, Switzerland, February 5, 2019 - Phoenix Systems today announced it has selected IBM LinuxONE™ and IBM® Secure Service Container for IBM® Cloud Private to support their new digital asset management platform, KORE. KORE will support the growing market for crypto and tokenized assets which is expected to reach over $100 billion by 2020.
„With digitization and blockchain changing the way businesses provide everything from customer service to an investment advice, the physical asset world is being extended into a crypto asset universe,“ says Christian Keller, General Manager, IBM Switzerland. „We see more companies willing to attract institutional capital and trying to invest it in uncharted digital territories - a space where IBM already has a proven expertise through engagements like this one.“
KORE enables corporates to issue, manage, trade and validate digital assets in the most secure and compliant way. It is ready to handle Initial Token Offerings and Security Token Offerings, wallet custody services, blockchain transactions, digital asset management and other Hyperledger applications. KORE ensures end-to-end lifecycle management and security by providing technology and infrastructure from only one source. No third parties, no media breaks.
„We offer banking grade services to the nascent crypto industry, with a special focus on security of data management,“ explains Thomas Taroni, CEO of Phoenix Systems. „This is only possible when working with the best. Both IBM and Securosys offer an unparalleled infrastructure to maintain highest security standards at all times.“
Based on the IBM® Secure Service Container for IBM® Cloud Private, Phoenix Systems is able to protect the workloads into locked down virtual servers to avoid any tampering or admin access to the data.
Combined with Securosys' Primus HSM, KORE is able to securely issue trusted digital assets. Phoenix Systems creates a highly secure on-premises private cloud that enables many different clients — from small companies to big institutional investors — to access KORE in a safe and highly available environment.
With IBM LinuxONE, Phoenix Systems can encrypt 100 percent of application, cloud service, and database data without application changes — delivering unmatched security and privacy for clients.
„By adding Securosys HSM all blockchain crypto operations can be implemented securely in a high availability HSM cluster,“ says Robert Rogenmoser, CEO of Securosys. „Our patent-pending multi-signature capability will provide extensive access control, allowing operators of KORE to implement the required business processes in any enterprise application.“
Companies dealing with Token and Security Token offerings are already using KORE to support their clients in Initial Token Offerings and with banking grade security relying on the solution in such a dynamic market environment. Going forward, every player that is digitizing assets using private keys will need a provider with this kind of infrastructure offering.
Phoenix Systems AG
Phoenix Systems develops the systems of tomorrow as established software and infrastructure service provider in Switzerland. Operating for more than ten years and specialized in developing individual ERP systems for SME's, the company fully embraces new technologies such as blockchain.
Covering services from big data, digitization of business processes, high performance search engine and IoT, the implementation of projects using blockchain technology now completes the scope of the company. Its key asset lies in operating all software development projects in its own Swiss based, banking-grade data center. This way the company is able to provide all required services from one hand without any media breaks on an unparalelled security level and highest efficiency.
Through its new venture KORE Technologies, these services are now offered to a vast client base specifically interested in implementing projects on blockchain technology.
IBM is a global cloud platform and cognitive solutions company, which has continually evolved over the past century to remain at the forefront of technological innovation. IBM`s mainframe, cognitive systems and storage offerings provide the world`s most powerful, secure and flexible foundation for AI and data-intensive applications and workloads.
Securosys SA is a market leader in cyber security and encryption based in Zurich, Switzerland. Since its foundation in 2014, Securosys has secured the Swiss financial markets on behalf of the Swiss National Bank and protects transactions worth over 100 billion Euros daily. The company serves more than half of the Tier 1 banks worldwide with the help of hardware security modules built and developed in Switzerland.