IBM researchers helping to make blockchain fit for 5G auctions

Due to the transition towards 5G, the next generation of wireless networks, bandwidth allocation auctions are being held in many countries. Governments auction off portions of the 5G frequency spectrum to cell phone service providers. In order to guarantee that these auctions are conducted fairly, they can be held anonymously via blockchain.

IBM Research Zurich and Intel have now developed a Fabric Private Chaincode (FPC), as detailed in a press release. This has been designed for use with blockchain applications where the requirements with regard to protection of the private sphere are very high – such as the bandwidth allocation auctions, for example. Using the FPC for such auctions can ensure that that neither bidders nor auctioneer can manipulate the process. According to the information available, the FPC can be integrated into existing blockchain solutions such as the Hyperledger Fabric.

The FPC is now to be tested within the framework of a series of pilot projects. The researchers hope that the solution could help to cut costs in future, as it removes the necessity of additional security mechanisms or insurance. Should everything go to plan, the solution is likely to be used in many Trusted Execution Environments (TEE). IBM has compared the use of TEEs in blockchain applications with the https communications protocol for the internet. Within the context of the World Wide Web, https guarantees that data can be transferred securely.

IBM Research, which is based in Rüschlikon, is one IBM’s 12 global research institutes. It was founded back in 1956.