NEW YORK, NY, Feb 16, 2016 — (ACN Newswire) — Loyyal, an exciting blockchain and smart contract based loyalty solutions startup, today announces that it has joined The Linux Foundation, the nonprofit organization enabling mass innovation through open source.
More specifically, Loyyal has joined the Hyperledger Project, a collaborative effort to advance blockchain technology by identifying and addressing important features and currently missing requirements, for a cross-industry open standard for distributed ledgers that can transform the way business transactions are conducted globally.
The project was announced in December with 30 founding members, including: ABN AMRO, Accenture, ANZ Bank, Blockchain, BNY Mellon, Calastone, Cisco, CLS, CME Group, ConsenSys, Credits, The Depository Trust & Clearing Corporation (DTCC), Deutsche Borse 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.
Loyyal will actively participate in the global discussion and contribute code and expertise throughout the development of a modular and standardized approach to distributed ledger technology.
“Loyyal is very excited to be part of such a prestigious and high-profile project as The Linux Foundation. It’s like a dream come true to be able to contribute to the Hyperledger project and to work with the level of players within the Foundation. We have much to offer, and believe that we will make our mark in contributing to the furthering of blockchain technology utility,” said Greg Simon, CEO and Co-Founder of Loyyal.
The Loyyal platform includes the Abstracted Value Consensus Protocol (AVCP), a next-generation blockchain and smart contract solution for enterprise users and service providers. Loyyal has taken a modular approach in its development, anticipating changes in the distributed ledger technology landscape that is complimentary to the Hyperledger Project.
Loyyal is reinventing how loyalty is created and rewarded. Using blockchain and smart contract technology, Loyyal has built an interoperable loyalty and rewards platform to address a highly fragmented industry, and offer multiple industries an innovative way to incentivize customer behavior.
For information about Loyyal, please visit www.loyyal.com or email to firstname.lastname@example.org.
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Loyyal Co-Founder & COO