Justin Newton is the CEO and co-founder of Netki. Netki produces standards for the blockchain ecosystem and Justin believes it’s important that the standards they deliver to other blockchains can be used universally across all of them. Being part of Hyperledger helps create that continuity across the different blockchains that they work on.
Advancements in blockchain technology will dramatically change the way most businesses operate in the future. Much like how the internet started out doing things we already did like long distance communication but in a lower cost way, blockchain’s first and main focus has been on increasing efficiency and lowering costs like in payments or sharing information
The bigger promise of blockchain for Justin is that it is an open network for use and innovation around financial services, value transfer, and data ownership, which will lead to dramatic and sweeping changes across all industries as the technologies mature and they become more scalable.
Netki decided to get involved with Hyperledger because it brought together two important areas for development of blockchain: one is the focus on open source and open standards, and two is it provides a strong and predictable governance model around that open source project. Hyperledger gives a stable and predictable path for the development of the technology and a governance process that allows enterprises to feel comfortable with the go forward path. Netki can work with other technologists to help create best of breed standards for blockchain.