The deal was signed at Sibos and Lev Khasis, first deputy chairman of the executive board of Sberbank, (pictured left) said the new development with Hyperledger, and its open source platform based on blockchain, offered “access to international expertise and cutting-edge blockchain developments”.
UBS Group AG, after experimenting with blockchain technology for about two years, plans to build a trade finance system that uses distributed ledgers to streamline import-export transactions globally. Working with International Business Machines Corp., the Swiss bank chose the open-source Hyperledger blockchain platform for the project, in part for its deft handling of smart contracts.
For banks eyeing blockchain technology, 2016 has been the year of tests, trials and proofs of concept. By this time next year, however, some 15% of them could be running blockchain solutions in the wild, according to research by IBM.
Geneva-based CLS is to build a Foreign Exchange (FX) payment netting service using Hyperledger Fabric. CLS is one of the founding members of the open source Hyperledger project which takes advantage of blockchain technology. With the help of IBM, CLS is building a settlement system for FX trades that are settled outside of the existing CLS settlement service.
Just when bankers were beginning to understand what it will mean to become digital, IBM’s CEO told them that’s become a new minimum — the next step is cognitive computing.
Huddle several hundred bankers, regulators and geeks into a hotel and you’ll hear how the technology that underpins the internet currency bitcoin is on the brink of changing how the world tracks money, music, identities and even handbags — as well as predictions that real-world applications might emerge fastest in China.
Blockchain consortium Hyperledger today revealed five new members have joined its cross-industry platform.
Project’s Growth Exceeds 85 Members, as Its Participation Kicks Off at World’s Premier Financial Services Event
SAN FRANCISCO, CA and GENEVA, SWITZERLAND–(September 26, 2016) – Hyperledger Project, a collaborative cross-industry effort created to advance blockchain technology, announced today at Sibos in Geneva, Switzerland, that five new members have joined the project to help create an open standard for distributed ledgers for a new generation of transactional applications. Membership has grown significantly since the beginning of the year, making Hyperledger the fastest growing collaborative project ever hosted by The Linux Foundation.
“It’s great to see such strong growth and support behind Hyperledger, as the potential with blockchain is far-reaching and will become pervasive in enterprises, government agencies, and even the public sector,” said Brian Behlendorf, Executive Director, Hyperledger. “Our newest members bring unique value to the community; I look forward to advancing open blockchain standards and continuing to drive development efforts with them.”
Hyperledger Project is working to enable organizations to build and run robust, industry-specific applications, platforms and hardware systems to support their individual business transactions by creating an enterprise grade, open source distributed ledger framework and code base.
The new Hyperledger members join a rapidly growing and diverse group across finance, banking, Internet of Things, supply chains, manufacturing and other technologies. The latest members include: Aesthetic Integration, BLOCKO Inc., Hangzhou Fuzamei Technology, PDX Technologies and Zhejiang Shuqin Technology.
New Member Quotes:
“We’re excited to join Hyperledger as the first formal verification company and be at the outset of this cross-industry effort,” said Denis Ignatovich, co-founder and co-CEO. “We welcome the opportunity to collaborate with other members and help shape open standards for blockchain. We have extensive experience with automated mathematical analysis of safety-critical software and financial risk management, and we hope to contribute our knowledge to this project. In the coming weeks we will organize a series of meetings with interested members to discuss how we may leverage formal verification to ensure stability and safety of the platform.”
“Blocko, a leading provider of an enterprise Blockchain platform, enables companies to get past the complex blockchain application development process, allowing developers to focus on business logic,” said Blocko’s CEO, Wonbeom Kim. “Blocko’s Coinstack is built from the ground up for the needs of enterprise clients, allowing applications to run on both public and permissioned ledgers. We’re thrilled to now collaborate with other members of Hyperledger to continue to push blockchain technology forward.”
“We are being committed to the exchange, supply chain, liquidation and wallet based use cases of blockchain technology, which are most likely to be realized and will definitely have a great impact on the future,” said Mr. Sijin Wu, CEO and Founding Partner of Hangzhou Fuzamei Technology Co. “The purpose of joining Hyperledger for us is to find other participants focusing on blockchain exchange in this powerful organization. Therefore blockchain technology application can be achieved as quickly as possible.”
“As the first technology company devoted to fundamentally reconstructing the blockchain to be a general-purpose PaaS suitable for a wide spectrum of critical real-world use cases, we are thrilled to be a proud member of the Hyperledger Project,” said Mr. Jiangang Zhang (a.k.a. JZ), Founder, CEO, CTO of PDX Technologies, Inc. “By collaborating closely within the Hyperledger Project, our numerous disruptive innovations on smart contract, blockchain and consensus etc. can reach and benefit a much broader audience in the blockchain ecosystem. We look forward to adapting our barrier-less, massively scalable, super low latency, super high concurrency and super high throughput blockchain stack and blockchain PaaS to the Hyperledger codebase.”
“As a team, which started blockchain implementation at an early stage in China, we deeply understand the disruptiveness of this distributed ledger technology even with its imperfections,” said Gao Hang, founder and CEO of Baoquan.com. “Therefore, aligning with the goal of the Hyperledger project, we are aiming to make the blockchain a practical technology which can add value for clients’ business and solve their problems. Hence, it’s our great honor to be a part of Hyperledger, the most prestigious global open source project. We also believe It is the best way to share and push the commercialization of blockchain further ahead.”
You can view all members of Hyperledger here: https://www.hyperledger.org/about/members
You can visit Hyperledger at booth #C90 in the expo center at Sibos. Hyperledger will sponsor the Innotribe Networking event on the evening of Wednesday, September 28, which will include opening remarks from Brian Behlendorf and video demos of the technology. Additional speaking engagements will include:
- Monday, September 26, Behlendorf will speak on the “Blockchain 2020 – What is Next for Adoption by the Financial Industry.”
- Tuesday, September 27, Behlendorf will join “Business Standards in the DLT Stack.”
- Thursday, September 29, Behlendorf will join “Forward Compatibility.”
Hyperledger Project will also be involved in two SWIFT Labs sessions “Discover R&D@SWIFT: Distributed Ledger Technology at the event.
About Hyperledger Project
The Hyperledger project is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration including leaders in finance, banking, Internet of Things, supply chains, manufacturing and Technology. The Linux Foundation hosts Hyperledger as a Collaborative Project under the foundation. To learn more, visit: www.hyperledger.org
Perhaps the pendulum of opinion is swinging back in favour of public blockchains, as opposed to the myopic fervour for private distributed ledger deployments put about by financial institutions and professional services firms over the past year or so.
Brian Behlendorf has made a living out of helping others play well together — and his work with blockchain group Hyperledger builds on this expertise.
