IBM and Intel create an open-source project Fabric Private Chaincode that enables a new form of smart contract to attain the Intel Software Guard Extention (Intel SGX) advantages and further aid privacy and integrity in The Linux Foundation’s Hyperledger Fabric blockchains.
The new model of smart contracts is appropriate for applications where it is profitable to use the known blockchain properties of allocating, decentralized execution, and immutable ledger. This is exactly how it is supposed to work. During the process, the data is meant to be kept private, even from the participants running the blockchain network.
The Fabric Private Chaincode project is an excellent example of how IntelSGX, which enhances the value of blockchain by accrediting new business models which is primarily based on a new model of trust. The existing Hyper Ledger ensures smart contract integrity by having multiple peers to execute similar chain codes and verify if their results match. This works better for use cases and not for systems that require private execution.
It is not just the Confidentiality that is sufficient to ensure if the participants can trust the smart contracts, meanwhile, it also requires integrity to allow participants to be confident about their choice of using smart contracts.
IBM believes that the adoption of Trusted Execution Environment technology for the probability of high risks in use cases today will help to cover the way for more general adoption in many other use cases in the future.