IBM announced has acquired a big contract from a security financial data provider company based in Shanghai China in the domain of risk analysis of the data available in the public domain.
The statement further elaborated that a large Chinese company named as Shanghai Wind Information would allow its public domain financial information of the company to process for the risk the information faces, with the help of the IBM owned software in the cloud. The financial company would neither install any IBM servers at its premises nor will it disclose the portfolio of the holdings. This entire process of risk analysis would be completed under the cloud computing based software platform of IBM in its data centers.
While talking about the prospects of this futuristic contract, the Director of Risk Analytics at IBM Corporation, Mr. Andrew Aziz, in his official statement said,
This is an innovative deployment model in that IBM never receives client information. IBM will respect Chinese law, and the new business model will continue to comply with the local laws, including data privacy laws in China and in all countries in which it operates
. He further insisted that the company is very committed to the privacy, security, and local laws of the land.
It is very important to note that after Snowden Snoopgate, many countries especially those, which have long history of fluctuating relationship with the USA like China, became so cautious about using the hardware and technology made in USA to avoid any kind of security risk to their public data. The situation even worsened when the USA confirmed that it can spy through the hardware made in USA in any other country and company.
With this new security contract of IBM in cloud computing domain would help other businesses to keep their hopes alive in this big market.