The blockchain consortium Hyperledger was launched in 2016 with the goal of advancing multi-industry blockchain technologies. It is backed by the Linux Foundation and encourages collaboration between leaders in finance, manufacturing, banking, and technology.
In essence, the Hyperledger is an operating system for all online services, including data-sharing networks, online marketplaces, and digital currencies, and provides the infrastructure for running a service, or company, on the blockchain.
Hyperledger is hoping to bring the elements of transparency, trust, and adoption to blockchain technologies that is needed to make them mainstream.
In order to advance their mission, they have been consistently adding new companies to their consortium. Hyperledger announced this past Wednesday that cryptocurrency company Ripple will be joining their ranks, along with 14 other companies. In total, over 200 companies and organizations have joined Hyperledger over the past two years.
Stefan Thomas, Ripple’s CTO, released a statement on the partnership, saying “Through our partnership with Hyperledger, developers worldwide will be able to access Interledger Protocol (ILP) in Java for enterprise use. The Hyperledger Quilt project connects Hyperledger blockchains with other ILP-capable payment systems such as XRP Ledger, Ethereum, Bitcoin (Lightning), Litecoin, Mojaloop and RippleNet, helping us to deliver on our vision for an Internet of Value - where money moves as information does today.”
The addition of cryptocurrency companies and settlement companies, like Ripple, enhance Hyperledger’s platforms as they allow for greater efficiency and diversity of the blockchain. In the field of finance, Ripple and Hyperledger both share a similar goal of improving the current settlement systems by creating greater liquidity and increasing the transparency of financial transactions across the globe.
Hyperledger is planning on debuting an enterprise blockchain tool that speeds up the development of blockchain applications later this year. They are also advancing three of their open source platforms to production status at some point this year, making 2018 a big year for the consortium.
Hyperledger’s executive director, Brian Behlendorf, recently told Coindesk that many of their projects are gaining a significant amount of traction, with “multiple companies now participating in development…And in some cases already in production...”