Credits announced as one of 30 Founding Members for Linux Foundation’s Hyperledger Project
Distributed Ledger Effort Establishes Open Technical Governance Structure, Receives Influx of Code Contribution Proposals
February 9th, 2016, London UK: Credits, the bespoke blockchain platform provider, today announced it has been selected to become one of the founding members of The Hyperledger Project — an open source project that aims to advance the blockchain digital technology for recording and verifying transactions. The initiative was launched in 2015 by the Linux Foundation, a nonprofit organisation that enables mass innovation through open source.
Founding members of the Hyperledger Projects represents a diverse group of stakeholders, including: ABN AMRO, Accenture, ANZ Bank, Blockchain, BNY Mellon, Calastone, Cisco, CLS, CME Group, ConsenSys, 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.
Commenting on the news, Nick Williamson CEO and founder of Credits said: “Credits is delighted to be contributing to the open source Hyperledger project and to bring our expertise to the first widespread initiative focused on applying blockchain technology outside of cryptocurrency. The Linux Foundation’s Hyperledger will allow us to find real world blockchain solutions to the many challenges in authenticity, provenance and reconciliation which enterprises face today.”
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.
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.
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.
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.
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.
About The Linux Foundation
The Linux Foundation is the organization of choice for the world’s top developers and companies to build ecosystems that accelerate open technology development and commercial adoption. Together with the worldwide open source community, it is solving the hardest technology problems by creating the largest shared technology investment in history. Founded in 2000, The Linux Foundation today provides tools, training and events to scale any open source project, which together deliver an economic impact not achievable by any one company. More information can be found at www.linuxfoundation.org.
