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Tranquility Base – A New Open Source, Multi-cloud Datacenter as Code (DaC) Capability




Tranquility Base lands at Google Cloud Next ’19 in London.  At Google Cloud Next, GFT is hosting the first public showing of Tranquility Base – a vendor agnostic open source initiative which delivers a full multi-cloud datacenter written in code (Datacenter as Code [DaC]). DaC fully automates the numerous manually intensive infrastructure and application setup tasks, delivered through a feature-rich self-service portal. Approved and regulatory-compliant activators, based on DevOps-ready application reference architectures can be deployed from the developer portal – often by a single click.

Tranquility Base provides users with the ability to deploy all infrastructure and applications as integrated coded modules written in Terraform. It delivers ease-of-use and fast-track cloud deployment capabilities which have never been seen before. Supporting all of the major cloud service providers (CSPs), it enables full compliance, consistency and replicability across any organisation.

Tranquility Base Lead, Andrew Rossiter commented. “Without question, cloud migration is hard and most firms lack the skilled resources, necessary controls and operating models required to create a secure managed cloud environment. Development teams also struggle to access best-practice deployment strategies – particularly around continuous delivery and deployment. Very early on we identified there was an urgent need to find a common solution, across all industries, to these critical issues. Drawing on years of experience in this area and the belief it would make a significant difference to the industry at large, GFT donated a team of highly skilled global developers to kick start the Tranquility Base open source initiative.”

Google is the first cloud provider to be showcased on Tranquility Base during the upcoming Google Cloud Next ’19 London conference. There the team will demonstrate how the activators can be used to build a specific reference architecture on Google Cloud Platform (GCP), supporting numerous applications and workloads. This enables ‘first time right’ cloud adoption to be achieved faster than ever before.

Andrew Rossiter continued: “Collaborating with the authors, architects and engineers of Tranquility Base, users can very quickly create tailored landing zones and deploy activators in line with their own organisation’s needs and priorities. The contributor community is already gaining pace with major banks and automotive firms either already on board or keen to get involved. The Tranquility Base open source community is on a fast-track path to becoming an independent positive force for change, enabling all participants to learn, develop and contribute code, all with a common purpose. Join in!”

Marika Lulay, GFT’s CEO concluded. “GFT has been pivotal in pioneering this open source initiative, as we believe the ‘first time right’ approach will become the industry’s way forward to enable an accelerated cloud migration for all. Tranquility Base is very relevant for our existing clients too, as it fully supports the stringent risk and compliance requirements imposed on highly regulated firms. And it will liberate users from the onerous challenges and associated high costs created by single vendor lock-in scenarios. Based on the feedback of everyone we are talking to, we really are very optimistic about the opportunities Tranquility Base will unlock. Playing a founding role clearly demonstrates not only GFT’s commitment to this open source community, but also the pioneering capabilities of our global, highly skilled, in-house development teams.”

Tranquility Base lands at Google Cloud Next ’19 in London’s Excel centre on 20-21 November 2019, where GFT is a premium sponsor.




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Financial industry bodies defend permissionless blockchains against Basel Committee’s classification




Five financial industry bodies have pushed back against the treatment of permissionless blockchains by a global banking supervision authority.

In December, the Basel Committee on Banking Supervision (BCBS) published a report on proposed amendments to bank capital requirements for digital assets, stablecoins, and tokenized assets.

The report classified all permissionless blockchains as high-risk, claiming that some risks could not be mitigated through existing solutions. BCBS was particularly concerned about banks’ lack of control over third parties who conduct most operations on these blockchains. It also warned about their privacy, finality, liquidity, and political, legal, and policy risks.

In response, five global financial industry regulators have defended permissionless blockchains. In a joint response, they stated that the industry “has all necessary expertise and robust compliance frameworks to fully identify, manage and mitigate these risks.”

The five are the International Swaps and Derivatives Association, the Global Financial Markets Association, the Institute of International Finance, the Futures Industry Association, and the Financial Services Forum.

Blockchain’s application in the financial industry is evolving, and regulators must not disincentivize banks from exploring the technology, the regulators stated. By putting up unnecessary hurdles, the BCBS would only push these institutions to the non-regulated shadow banking space, which would be riskier for them.

The regulators further noted that dozens of global banks have conducted successful pilots using permissionless blockchains. These pilots have shed more light on the technology’s application and allowed them to understand and control emergent risks.

The BCBS approach is unfair to blockchain and veers away from the regulator’s long-held “same asset, same risk” approach, they added.

“While we acknowledge that risk mitigation techniques are evolving for permissionless crypto assets…we are confident that solutions already exist in respect of specific use cases,” the five stated.

They believe deciding whether to build on permissionless blockchains should be left to the banks.

The financial sector has been a leader in blockchain adoption, with some, like JPMorgan (NASDAQ: JPM), developing their own permissioned networks, albeit unsuccessfully. However, most have relied on existing solutions to build applications spanning settlement, bond issuance, tokenization, etc.


The post Financial industry bodies defend permissionless blockchains against Basel Committee’s classification appeared first on HIPTHER Alerts.

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