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On December 17, 2015, Beijing time, the non-profit Linux Foundation announced a new collaborative program to promote cutting-edge blockchain technology. The project will develop an enterprise-level open source distributed ledger framework to allow freelance developers to focus on building powerful industry-specific applications, platforms and hardware systems to support commercial transactions. Early participants include Accenture, ANZ, Cisco, CLS, Credits, Deutsche Börse, Digital Asset Holdings (DAH), DTCC, Fujitsu, IC3, IBM, Intel, JPMorgan Chase, London Stock Exchange Group, Mitsubishi UFJ Financial Group (MUFG), R3, State Street, SWIFT, VMware, and Wells Fargo. Many of the founding members have conducted extensive research and development work to explore blockchain applications in the industry. IBM will contribute its existing tens of thousands of lines of code and the corresponding intellectual property rights to this open source community. Digital Asset Holdings (DAH) will contribute the " Hyperledger " brand as the name of the project, including enterprise-level code and developer resources. R3 will contribute a new financial transaction architecture to meet the needs of its global banking members and other financial institutions. These technical contributions, as well as other companies participating in the project, will be reviewed in detail by the Technical Steering Committee in a few weeks. Blockchain is a digital technology used to record and verify transactions. This distributed ledger is a permanent, secure tool that can be used to create cost-effective business networks without the need for centralized control points. With a distributed ledger, almost anything of value can be tracked and traded. The application of this emerging technology shows great potential for enterprises. For example, it allows securities to be settled in minutes instead of days. It can also be used to help companies manage the flow of goods and related payments, or enable manufacturers to share production logs with original equipment suppliers and regulators to reduce product recalls. “Distributed ledgers are poised to transform a wide range of industries, from banking and shipping to the Internet of Things, and beyond,” said Jim Zemlin, executive director of the Linux Foundation. “As an early-stage, highly complex technology with the power to change the way we live and do business, it requires a cross-industry open source collaborative initiative to advance its use.”
Distributed ledger systems are being built across industries, but to realize the promise of this emerging technology, an open source and collaborative development strategy that supports multiple industry participants will be necessary. This type of shared or external research and development (R&D) has been shown to deliver billions of dollars in economic value. For more information on the project and how to get involved, visit: https://blockchain.linuxfoundation.org/ Comment Accenture “Distributed ledger technology will unlock the potential for full ‘digitalization’ of capital markets and the broader financial services industry by moving away from existing expensive and inefficient systems,” said David Treat, managing director of Accenture Financial Services. “Critical to the journey will be the development of standards and shared platforms that can be leveraged by participants across the industry. The Open Ledger Project is a huge step forward in this journey and we are delighted to be a part of it.”
ANZ Bank ANZ Chief Technology Officer Patrick Maes said: "We are delighted to confirm our participation in this open ledger project because we recognize that there is currently no industry-accepted enterprise-grade blockchain framework suitable for the banking industry. We will work hard to learn and explore, and contribute to the development of a global framework together with partners in the ecosystem. ANZ is in a unique position in this regard because we operate across 34 markets." ANZ's General Manager of Payment Transformation Nigel Dobson said that he believes participating in the project is an opportunity. "I see significant potential opportunities to improve our user experience in the future and have the potential to solve real business challenges. The initial application is in payments, especially banking agency business."
Cisco "This Open Ledger project is a critical turning point for industries to build enterprise-grade blockchain technology. Its main contribution is to enable an open developer community around blockchain technology for various industries. This is great, so many colleagues have joined this community and supported the advancement of the entire Internet community," said Dave Ward, senior vice president and chief architect of Cisco Systems.
CLS
“CLS is delighted to be involved in this project which aims to standardise and advance distributed ledger technology,” said David Puth, CEO of CLS.
Credits “Distributed ledger technology is quickly becoming the most exciting space to explore,” said Nick Williamson, CEO and founder of Credits. “This open ledger project will help cut through the noise of the hype cycle and bring substance to this emerging industry.”
Deutsche Börse
“Deutsche Börse Group believes that blockchain technology has great potential and we are pleased to join this initiative. As a market infrastructure covering the entire value chain, we believe that industry initiatives such as Hyperledger are needed to realize the true value of blockchain,” said Jeffrey Tessler, member of the Executive Board of Deutsche Börse Group.
Digital Asset Holdings “We are pleased that the Linux Foundation has provided a broadly supported vehicle for us to contribute the Hyperledger brand and enterprise-grade blockchain solutions to the open source community,” said Blythe Masters, CEO of Digital Asset Holdings. “The resulting momentum will benefit our clients and the entire global financial services industry.”
DTCC “DTCC, as an industry owned and governed financial infrastructure, is deeply interested in the potential of distributed ledger technology and is excited to be part of the industry’s efforts to create governance standards for the Hyperledger initiative and ensure the core technology is open source and collaborative,” said Mike Bodson, CEO and President of DTCC.
Fujitsu Limited “Blockchain is a technology that must be embraced,” said Takahito Tokita, senior vice president and head of Fujitsu’s Financial Systems Division. “Fujitsu is pleased to participate in the Open Ledger project and contribute to the advancement of this technology.”
IC3 “IC3 (Initiative for Cryptocurrencies and Contracts): We are excited to be part of this initiative and to bring the strength of academic researchers with expertise in rigorous security analysis, distributed systems, state-of-the-art cryptography, and across disciplines to this vibrant new community,” – Ari Juels, Jacobs Institute; Andrew Miller, University of Maryland; Elaine Shi and Gun Sirer, Cornell University.
IBM “A broad, cross-industry and open source approach is key to advancing blockchain technology and taking it mainstream,” said Arvind Krishna, senior vice president and director of IBM Research. “Establishing common code enables companies to focus on building industry-specific applications, which enhances the value of this technology.”
Intel Imad Sousou, vice president and general manager of Intel’s Open Source Technology Center, said, “This open ledger project can help industries converge on a shared infrastructure to help create value and impact innovation.”
London Stock Exchange Group Moiz Kohari, head of technology innovation at London Stock Exchange Group, said: “London Stock Exchange is committed to an open source, collaborative approach to the development of blockchain technology. We believe this technology has the potential to advance the industry, but requires an open source approach, developed in partnership with clients and other industry participants.”
Mitsubishi UFJ Financial Group (MFUG) "New products and services supported by open innovation platforms will be key to the Japanese and global economies, and MUFG supports this project to create innovative financial services," said Satoshi Murabayashi, Chief Information Officer of Mitsubishi UFJ Financial Group.
R3 “R3 has long believed that an open source approach is the best vehicle for developing the fundamental elements of a shared financial ledger that will benefit all market participants and their customers,” said David Rutter, CEO of distributed ledger initiative R3. “We are delighted to be part of this initiative at the Linux Foundation, a leading voice in the development of open source technologies.”
State Street Bank Antoine Shagoury, global chief information officer at State Street, said: “The Open Ledger Project is focused on working with an important first step to harmonise on open standards that will help make this technology a reality.”
SWIFT “SWIFT is pleased to support the industry’s efforts to advance distributed ledger technology together,” said Craig Young, SWIFT’s Chief Technology Officer. “Cooperation and collaboration – hallmarks of SWIFT collaboration – will be key to ensuring the scalability and adoption of this technology.”
Wells Fargo “Many companies are evaluating the potential of blockchain technology for innovation in transactions, transparency and settlement, and it could be effective,” said Steve Ellis, head of Wells Fargo’s Innovation Group. “The Open Ledger Project enables industry organizations to collectively explore how to create value, reduce costs and improve accessibility of financial systems and services for customers.”
About the Linux Foundation
The Linux Foundation was founded in 2000 to collaborate with developers from around the world through leading technologies. The Linux Foundation protects its members and open source development community resources to ensure that Linux remains a free, technologically advanced Linux. Original article: http://www.linuxfoundation.org/news-media/announcements/2015/12/linux-foundation-unites-industry-leaders-advance-blockchain
Author: Linux_Foundation
Compiled by: Satuoxi
Source (translation): Babbitt Information (http://www.8btc.com/linux-foundation-blockchain)
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