HyperLedger Sees Its Momentum Speed Up As More Firms, Including Deutsche Bank Partner Up
Hyperledger's momentum has gathered a faster pace this week with new collaborators joining the space. An area of enterprise which comprises of over 235 organisations working closely together to innovate within the realm of blockchain technology.
Events such as the intention of the multinational Deutsche Bank to join the project as a premier member is conjoined with the decision on the parts of companies like Experian, Evernym and China Systems Holding joining the open-source collaborative project.
HyperLedger, for those unfamiliar, is an umbrella term used to define various open-source blockchain projects and tools. As a term, Hyperledger boasts hundreds of different projects, with new companies adding to that number constantly.
Powered by the Linux Foundation, Hyperledger is a testament to collaborative efforts between businesses. And has strived to tempt over new, multinational businesses like American Express and Cisco since 2016.
While it doesn't occupy the same flashy area of the market as known organisations like Ethereum. The projects that Hyperledger gets involved with are nonetheless addressing distinct daily needs that companies desperately looking for solutions to.
It's within these projects that the greatest level of collaboration makes Hyperledger distinct from its counterparts. The dynamic between companies within this sphere allow for aspects of business like financial solutions to streamline daily business.
In the first quarter of 2018, more than 16 additional companies have seen the successes of companies under the Hyperledger and decided to join the network. Bringing the total number of collaborating organisations up to 235.
Brian Behlendorf, Hyperledger's executive director, states that the company's intent has always been centred around the introduction of innovative blockchain applications and their use for streamlining businesses.
“From healthcare to banking to digital identity management, our members are developing both the use cases and the code for distributed ledgers that scale, connect and interoperate. The accelerating growth we are seeing shows the widening footprint of enterprise blockchain and increasing recognition of a community-based approach to advancing the technology and business models.”
The logistics of dealing with a meteoric rise in the number of collaborating companies places is no easy thing to keep up to standard. The same is true in building production-ready software across a multitude of different industries is no small feat.
Competitors like R3 and Ethereum's EEA centre their business model around a dynamic and scalable system with an underlying stability, capable of being a leader in innovation for businesses around the world.
Hyperledger, on the other hand, boasts frameworks like Sawtooth and Fabric. Which are both focused on distributed ledgers capable of highly effective scaling. While also carrying the back-end abilities to enable turnkey decentralised applications.