The Hyperledger Foundation, a prominent open-source blockchain software developer, has welcomed two new members, Citi and the Brazilian Development Bank (BNDES), and established the Hyperledger Besu Financial Services Working Group. This working group aims to enhance alignment between service developers and organizational users within the financial services sector.
Citi and BNDES join the ranks of 133 existing Hyperledger Foundation members, including banks, central banks, tech firms, nonprofits, educational institutions, and retailers. Members provide support to the foundation financially or through active contribution, ensuring the sustainability of its 13 projects, which produce enterprise-grade code. According to executive director Daniela Barbosa, a significant portion of Hyperledger’s funding is allocated to training expert users, reflecting the increasing demand as the foundation’s projects gain traction.
Hyperledger Besu, a Java-based software featuring an extractable implementation of the Ethereum Virtual Machine (EVM), originated from Consensys and was contributed to the Hyperledger Foundation in 2019. Barbosa emphasized that all 13 Hyperledger projects receive contributions from various companies, fostering collaborative development and a broader ecosystem. Open-sourcing projects accelerates development and encourages collaboration among companies, governments, and organizations.
Chaired by the Depository Trust & Clearing Corporation (DTCC), the new Besu Financial Services Working Group comprises esteemed members such as Accenture, Banco Central do Brasil, Consensys, Citi, Japan Securities Clearing Corporation, Mastercard, Santander, and Visa. This group aims to leverage Besu’s capabilities for asset tokenization and facilitate collaboration among stakeholders in the financial services sector.
Hyperledger Besu is recognized as the most widely adopted software for asset tokenization, reflecting its prominence in the industry. However, the tokenization landscape remains dynamic and fragmented, with Blockdaemon cautioning about potential scenarios where a few interoperable private chains dominate tokenized flows. As part of the Linux Foundation, the Hyperledger Foundation remains committed to advancing open-source blockchain technology and fostering collaboration within the industry.
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