Hyperledger, the open source Distributed Ledger Technology, lately inked collaborations with more than 12 major global brands. The company brought in Alibaba Cloud, Citi, Deutsche Telekom, and several other big names into their technology integration. This recent stride will impact Hyperledger Blockchain Development services strongly as a prominent Distributed Ledger technology in the enterprise sector.
Per Brian Behlendorf, Executive Director at Hyperledger, the growing “community reflects the increasing importance of open source efforts to build enterprise blockchain technologies across industries and markets”. Behlendorf said the latest breakthrough with several global brands is a “showcase” of the “widening interest in the impact of DLT and Hyperledger.”
Hyperledger being an open source distributed technology platform is setting innovative ways to operate business processes. Most of the brands in the recent collaboration are either Blockchain Service Providers or Cloud Services. Utilizing Hyperledger Blockchain Development services they will expand their services. These brands are expecting to develop new technologies leveraging distributed ledgers and Hyperledger frameworks to assist in their business dynamics.
YI Li, from Alibaba Cloud, wants to increase their market share through Hyperledger, being a BaaS provider. While Citi Groups Beth Devin believes, Hyperledger will help the financial company to “advance” their “exploration.” Citi is working on new technologies based on Distributed ledgers. Meanwhile, Deutsche Telekom is focussing on use cases such as Identity Management and confidentiality aspects like multi-stakeholder environment.
More About Hyperledger Applications:
Hyperledger is a Distributed Ledger Technology platform for multiple frameworks and platforms to develop enterprise-grade applications. It is the Blockchain vertical of Linux, with primary collaborations from IBM and SAP. Hyperledger Blockchain Development Services is backed by all its collaborators, as they contribute to creating open source platforms to utilize them in their own particular use cases. Hyperledger Projects has contributions from developers across the globe. The community develops and maintains the code for the frameworks and tools. The member contributors also govern, apart from providing assistance in developing existing as well as new tools.
Hyperledger now has five primary frameworks and five tools to create distributed ledger applications. Hyperledger Fabric is one of the most popular frameworks for developing enterprise-grade solutions. Lately, Hyperledger developed Project Ursa, which is an open source Cryptography Library. This Library will assist in the development of any blockchain application using other platforms along with Hyperledger. Featuring modularity, security and cross-platform compatibility, Project Ursa has an objective to avoid duplication of codes and to offer experts review of codes. The library is expected to standardize Cryptographic algorithms and codes in the blockchain industry.
Read: How Hyperledger Fabric Cultivates Business Interests.
The collaboration of Alibaba Cloud and Hyperledger indicates a clear roadmap to cloud compatibility of Hyperledger in a short time. Contributions from Citi and Deutsche Telekom is ensuring strong Hyperledger based frameworks for the FinTech industry. Other members of the latest collaboration include Guangzhishu Technology, KEB Hana Bank, HealthVerity, Guangzhou Technology Innovation Space Information Technology, MediConCen, Xooa, BlockDao, and Techrock. Presently, Hyperledger has more than 260 members.
With its increasing consortium, Hyperledger is developing as a new standard for Decentralized Ledger application development. On-Demand Data Retrieval and Modular Structure are the most effective advantages of Hyperledger Blockchain. Permissioned-Blockchain has been one of the prime product based on this technology, which is now the new buzzword in enterprise infrastructure to replace conventional IT frameworks.