A group of top tech and finance companies including IBM, Wells Fargo and the London Stock Exchange Group, are joining forces to develop a new open source blockchain separated from the Bitcoin blockchain, Bloomberg Business reports .
The group will work with the Linux Foundation to create a public network that lets blockchain applications built on top of it communicate with each other. The open-source software will enable others to transform the way business transactions are conducted, according to a statement released by the Linux Foundation. The statement, not yet available in the open at the time of writing, has been shared on the Pastebin social sharing site.
The group also includes Accenture, ANZ Bank, Cisco, CLS, Credits, Deutsche Börse, Digital Asset Holdings, DTCC, Fujitsu, IC3, Intel, J.P. Morgan, Mitsubishi UFJ Financial Group (MFUG), R3, State Street, SWIFT, VMware.
“Distributed ledgers are poised to transform a wide range of industries from banking and shipping to the Internet of Things, among others,” said Jim Zemlin, executive director at The Linux Foundation. “As with any early-stage, highly-complex technology that demonstrates the ability to change the way we live our lives and conduct business, blockchain demands a cross-industry, open source collaboration to advance the technology for all.”
Digital Asset Holdings is contributing the Hyperledger mark, which will be used as the project name, as well as enterprise grade code and developer resources. Digital Asset Holdings bought San Francisco-based Hyperledger in June. The hyperledger.com URL now redirects to blockchain.linuxfoundation.org .
“The blockchain for business is ready in 2016,” states the brand new website. “Linux Foundation has united industry leaders to advance blockchain technology with a new open ledger project to transform the way business transactions are conducted around the world.”
“We are delighted that The Linux Foundation is providing a broadly-supported vehicle through which we can contribute the Hyperledger […]
