Soramitsu Open Sources Blockchain Platform “Iroha” – Offers Code to Linux Foundation’s Hyperledger Project

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Japanese Blockchain company Soramitsu  has just  announced today the open sourcing and proposal of a distributed ledger technology (Blockchain) platform called “Iroha” to the Hyperledger Project, an open source Linux Foundation collaborative project for the enhancement of Blockchain and distributed ledger technology.

Soramitsu made the proposal of Iroha to Hyperledger from Geneva, today, on September 26, 2016, and the proposal is jointly sponsored by leading Japanese technology firms, including NTT DATA Corporation (14.6 billion USD (2016). 

Soramitsu is a Japanese fintech startup, focusing primarily on creating a digital identity platform using Blockchain technology, and is a member of the Hyperledger project. Soramitsu has commenced development of derivative insurance contracts using Blockchain technology, such as weather derivatives, together with Sompo Japan Nipponkoa Holdings, Inc., a leading insurance company.

Soramitsu also has created a joint research project with The University of Tokyo, The University of Aizu, and the Center for Global Communications (GLOCOM) of the International University of Japan, to study the economics of local currencies and their effects on regional development in the area around Aizu, in Fukushima Prefecture, Japan, and will include experiments using local currencies running on Iroha.

In addition, Soramitsu and Rakuten Securities, Inc., have announced that they are working together to develop a KYC [2] system using Blockchain technology.

About Richard Kastelein

Richard Kastelein is the Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News, partner of token design and ICO architecture company Cryptoassets Design Group and co-founder and director at education company Blockchain Partners.

As a prominent keynote presenter, Kastelein has spoken on Blockchain at events in Gdansk, Beijing, Venice, Nanchang, Shanghai, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Munich, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona, San Meteo etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

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