The Linux Foundation, the nonprofit organization enabling mass innovation through open source, today is announcing new members from across the industry, a formal open governance structure and technical updates to the new Hyperledger Project.
The intent to form the Hyperledger Project, an open source project to advance the blockchain digital technology for recording and verifying transactions, was announced at the end of 2015. Founding members of the initiative represent a diverse group of stakeholders, including: ABN AMRO, Accenture, ANZ Bank, Blockchain, BNY Mellon, Calastone, Cisco, CLS, CME Group, ConsenSys, Credits, The Depository Trust & Clearing Corporation (DTCC), Deutsche Börse Group, Digital Asset Holdings, Fujitsu Limited, Guardtime, Hitachi, IBM, Intel, IntellectEU, J.P. Morgan, NEC, NTT DATA, R3, Red Hat, State Street, SWIFT, Symbiont, VMware and Wells Fargo.
“The development of Blockchain technology has the potential to redefine the operations and economics of the financial services industry,” said Richard Lumb, chief executive – Financial Services, Accenture. “It emerges at an important time, as the industry strives to be leaner, more efficient and more digital. Open source development will accelerate the innovation and help drive the scalability of this technology, and we are proud to support the Hyperledger Project.”
Global Business Leaders Contribute to Hyperledger
Since announcing the intent to form in December, the Hyperledger Project has received proposed code and technology contributions from several companies, including Blockstream, Digital Asset, IBM and Ripple. Other community members are contemplating contributions of their own.
“Blockchain technology can help enable secure transfer of digital assets among known and unknown parties,” said Imad Sousou, vice president and general manager, Open Source Technology Center, Intel Corporation. “Intel looks forward to collaborating with the Hyperledger Project to advance the security, scalability, and privacy of transactions in enterprise and permission-less systems.”
As with all open source projects, technical contributions are welcome at any time, from anyone and will be reviewed by the newly formed Technical Steering Committee (TSC), which is comprised of industry-leading technical experts. The TSC is committed to open and transparent discussion, processes and decision-making. This group will oversee the project’s technical direction and working groups as well as manage multiple contributions to the code base. The TSC will be evaluating proposed contributions and go through an open community process to build out the initial and unified codebase.
“As a broad, open initiative inclusive of many different blockchain experts, the Hyperledger Project will advance the open blockchain standard for uses across many industries,” said Jerry Cuomo, vice president blockchain, IBM. “By focusing on an open platform, there’s no limit to the types of applications and frameworks that will one day be built on top of it.”
Digital Asset has donated the trademark for the ‘Hyperledger’ name to the Linux Foundation. Use of the mark will be managed exclusively by the Governing Board of the Hyperledger Project with the approval of the Linux Foundation.
“R3 is excited to bring our deep bench of subject matter experts and broad network of over 40 global financial institutions to the Linux Foundation’s distributed ledger initiative,” said David Rutter, R3’s co-founder and CEO. “Working together, we can drive innovation across financial services that will impact our industry in the same way the Internet revolutionized media and entertainment.”
The Hyperledger Project is a collaborative effort to focus on an open platform that will satisfy a variety of use cases across multiple industries to streamline business processes. Peer-to-peer in nature, distributed ledger technology is shared, transparent and decentralized, making it ideal for application in finance and countless other areas such as manufacturing, banking, insurance and the Internet of Things. By creating a cross-industry open standard for distributed ledgers, virtually any digital exchange with value, such as real estate contracts, energy trades, marriage licenses, can securely and cost-effectively be tracked and traded.
“The Hyperledger Project has ramped up incredibly fast, a testament to how much pent-up interest, potential and enterprise demand there is for a cross-industry open standard for distributed ledgers,” said Jim Zemlin, executive director at The Linux Foundation. “Working on its own even the largest global corporation could not match the speed at which our new members are moving blockchain technology forward. Such a broad effort and investment is sure to have a great impact on our personal and professional lives.”
Members Adopt Open Governance Structure
The Hyperledger Project today is also announcing its ratified governance structure. A Board of Directors will guide business decisions, marketing and ensure alignment between the technical communities and members. Nominations are currently open for TSC members.
“Hitachi would continuously invest our resources and actively support the HyperLedger project. With numerous global organizations backing the effort, we believe blockchain will quickly mature and spread to more industries,” said Masayoshi Ogawa, President of Financial Information Systems Division, Information & Telecommunication Systems Company at Hitachi, Ltd.
“The formation of Hyperledger marks a milestone in the advancement of distributed ledger technology,” said Blythe Masters, CEO of Digital Asset. “Digital Asset believes that it is vital for shared infrastructure to be open to critical inspection and collaboration, and this initiative will be pivotal in driving the global adoption of solutions to real-world problems.”
To stay connected or to be part of the technical discussions, be sure to subscribe to the TSC or Technical-Discuss mailing lists at lists.hyperledger.org. Hyperledger Project is a Linux Foundation Collaborative Project.
- Lykke Crowdfunding – One -year Lykke Forward Offering - February 22, 2017
- Daimler AG Joins Hyperledger Blockchain Consortium as Premier Member - February 21, 2017
- Voatz and Clear Ballot to Explore Blockchain Technology for Remote Voting - February 20, 2017
- New Blockchain Smart Contract Token Developed By GameCredits - February 20, 2017
- Blockchain Could Be a New Operating System for the Planet Says Jeremy Wilson, Vice Chairman of Barclays Corporate Banking - February 20, 2017
- JAAK and the Guardian Initiative Announce MΞTA: A Blockchain Pilot for The Media & Entertainment Industry - February 18, 2017
- The StabL Project – Hadrien Charlanes Plans Stable Tokens and Derivative Products For Ethereum Blockchain - February 17, 2017
- Blockchain Energy Trading Trials Kickoff with Canada’s BTL Group and Austria’s Wien Energie - February 16, 2017
- Smart Dubai Office (SDO) and 1776 Launch Blockchain Challenge - February 16, 2017
- BOScoin, a New Cryptocurrency, Introduces “Trust Contracts” to Overcome the Shortcomings of Ethereum Smart Contracts - February 16, 2017
- European Commission Working on Blockchain – Plans Actively Seeking Pilot Partners - February 16, 2017
- Canadian Blockchain Company SecureKey Awarded U.S. Department of Homeland Security Grant - February 16, 2017
- Microsoft and KPMG Cut Deal and Kickoff Blockchain Nodes in Frankfurt and Singapore - February 16, 2017
- Global Blockchain Project FERMAT Announces Significant Alpha Release for the “Internet of People” - February 16, 2017
- Russian Blockchain Startup Exscudo Aims to Bridge Traditional Finances And The Cryptocurrency Market - February 15, 2017
- Active Year Ahead for Blockchain Solutions in Financial Services, says Corporate Insight - February 14, 2017
- BlockApps and Red Hat Cut Deal to Deliver Hybrid Cloud Solution for Blockchain Applications in the Enterprise - February 14, 2017
- Hyperledger Blockchain Turns One – Director Brian Behlendorf Updates - February 14, 2017
- The State Bank of India Initiates National Blockchain Bank Consortium - February 14, 2017
- The National Bank of Abu Dhabi (NBAD) Introduces Real-Time Cross-Border Blockchain Payments - February 14, 2017
- China Turning Hard to Blockchain – Focus on Fraud Reduction - February 13, 2017
- U.S. Department of Health and Human Services to Kick Off Blockchain in Heathcare Code-A-Thon - February 13, 2017
- Hexayurt Capital presents the Internet of Agreements at the World Government Summit - February 13, 2017
- EquiChain – Blockchain for Emerging Markets Post-Trade - February 13, 2017
- UK Government Approves Tramonex Labs to Issue Currency on Blockchain - February 12, 2017
- US Congress Buckles Down With Blockchain – Launch Congressional Blockchain Caucus - February 11, 2017
- Nick Szabo: Some Private Blockchains Qualify as Bona Fide Blockchains - February 10, 2017
- Bitfury Group and Government of Georgia Expand Blockchain Land Titling Project - February 10, 2017
- Expanse Project Announces Launch of the Expanse Bond System (EBS) - February 10, 2017
- WISeKey to Establish IoT Blockchain Center of Excellence in New York - February 10, 2017
- Blockchain Startup Coinfirm Gets $700k Growth Equity Via VC Funding - February 10, 2017
- Blockchain Health Startup Hashed Health Raises Nearly $2 Million in Initial Funding Round - February 10, 2017
- IBM Kicks Off Blockchain Initiative with Dubai Government - February 10, 2017
- Blockchain Pioneer Medici Ventures Invests in Factom, Inc. - February 7, 2017
- Canadian Blockchain Startup Equibit Raises Quarter Million Dollars in Day One of Initial Coin Offering (ICO) - February 5, 2017
- Blockchain-Fuelled Grantcoin Foundation Distributes Universal Basic Income (UBI) Grants To 1,132 People In 79 Countries - February 5, 2017
- Blockchain Startup Chronobank partners with NEM to create ChronoNEM wallet - February 3, 2017
- dotBlockchain Music Project Announces Partners - February 2, 2017
- Switzerland Promises to Ease Rules for Fintech and Blockchain Startups - February 2, 2017
- Netherlands’ ING Bank Completes 27 Blockchain POCs - February 2, 2017
- South African Blockchain-Based AR Game nears $1 Million in ICO Funding Goal - February 2, 2017
- The Wall Street Blockchain Alliance Announces New Blockchain Assets Working Group - February 2, 2017
- Tel Aviv’s Colu Launches Local Digital Currency for Liverpool – East London Next - February 2, 2017
- South Africa Mulling Over Blockchain Digital Currency - February 2, 2017
- Nine in Ten Governments Investing in Blockchain by 2018 Says IBM Study - February 2, 2017
- NATO Awards Estonian Blockchain Company Guardtime Contract for Next-Generation Cyber Range - February 2, 2017
- Microsoft and Tierion Collaborate on Attestations and Blockchain Proofs - February 2, 2017
- Irish Funds and Deloitte Trial Blockchain Proof-of-Concept - February 2, 2017
- Cambridge Blockchain Raise $2 Million for Digital Identity Enterprise Software - February 2, 2017
- National Altcoins – a Toy for Market Sharks or Godsend for Local Communities? - February 1, 2017