Blockchain technology became famous thanks to the virtual currency Bitcoin / Chris Ratcliffe / Bloomberg

Two sources familiar with Acronis' partners told Vedomosti that the Russian developer of backup systems Acronis is going to implement blockchain technology in its products. They claim that Acronis already has a product ready. One of Vedomosti's sources knows about the pilot project for this product. A source familiar with Acronis' managers also knows about Acronis' plans to develop blockchain technology.

Blockchain technology is known mainly due to its use in the Bitcoin cryptocurrency. It allows the user of this technology to be sure of the immutability of the transferred data, says Alexander Yakubov, curator of the FinNet working group of the National Technology Initiative. This is achieved by the fact that each data block has a calculated checksum of the previous block built into it - a similar technology is used in torrents. Thus, the blocks are arranged in a linked chain and it is impossible to either change the block in the middle or extract it - this will inevitably be discovered when checking subsequent blocks, he explains. It is the property of block chains to control the safety and integrity of data that interested Acronis, whose products should ensure the safety and integrity of backup copies, says a source familiar with the company's management, who spoke to Vedomosti.

Acronis develops data storage and copying systems and sells them on the international market. The company's headquarters are located in Singapore. Russia accounts for about 3% of the company's sales, 35% of income comes from North and South America, 40% from Europe, 25% from Asia and other countries, the company's founder and CEO Sergey Belousov said in an interview with Vedomosti in the spring of 2015. If the company used to sell boxed software, now it is trying to develop sales of cloud products as a service, he explained. The company's turnover was about $200 million.

Trying on blockchain

Acronis isn't the only one interested in blockchain technology. IBM will begin testing blockchain technology this year to improve service for clients who lease its equipment, The Wall Street Journal reported.

Using blockchain in backup ensures immutability of data and its safety, but not confidentiality, because its operating principle is similar to a torrent, and there the data is available to all network participants, says Oleg Seydak, a former partner of the Flint Capital venture fund (invests in financial IT technologies). In addition, since blockchain technology implies multiple copying of data, then making backup copies of large volumes of information using blockchain technology is not optimal and it is more suitable for protecting such information, the loss or change of which would be critical for the company, he believes.

Such a product would be more useful for the corporate sector, but not for private users of Acronis, says a source familiar with the company's management. He knows that Acronis is developing a prototype of a product called Xray. The source does not know how much money Acronis will invest in the development, but, according to his information, the company itself does not have such an estimate. He believes that the decision may be made based on the results of several pilot projects on the implementation of block chain technology, in which Acronis is participating.

Bitcoin uses blockchain technology to record all transactions in a single, unbroken sequence. These records are distributed across many different computers, and their authenticity is verified by network participants rather than by a single controlling authority. Bitcoin technology promises to revolutionize the banking system: it allows information to be updated in ledgers located far from each other, without central control. In September 2015, it became known that nine major investment banks, including Goldman Sachs, JPMorgan, Credit Suisse, Barclays, RBS, BBVA and UBS, had created a New York startup, R3, to develop common standards for blockchain technology. In December 2015, Kommersant reported that Sberbank could join R3.

Acronis representative Ekaterina Turtseva declined to comment.

Acronis to Use Blockchain Technology