Open Source Blockchain Effort, HyperLedger, Elects Leadership Positions and Gains New Investments
LAKE TAHOE, Calif. – Collaboration Summit – March 29, 2016 – The Linux Foundation, the nonprofit organization enabling mass innovation through open source, today is announcing the Hyperledger Project has filled key leadership positions and is welcoming new members. The Hyperledger Project is a collaborative effort to establish, build and sustain an open, distributed ledger platform that will satisfy a variety of use cases across multiple industries.
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HyperLedger Elects Board of Directors and Steering Committee
The results of the Board of Directors and Technical Steering Committee elections for the Hyperledger Project include the following:
Technical Steering Committee Chair: Chris Ferris, distinguished engineer and CTO of open technology at IBM
Technical Steering Committee members include: Tamás Blummer, Digital Asset Holdings; Mic Bowman, Intel; Richard Brown, R3; Stanislav Liberman, CME Group; Hart Montgomery, Fujitsu; Satoshi Oshima, Hitachi; Stefan Teis, Deutsche Börse; Emmanuel Viale, Accenture; Pardha Vishnumolakala, DTCC; and David Voell, J.P. Morgan.
Board Chair: Blythe Masters, CEO of Digital Asset Holdings
Governing Board members: Charles Cascarilla, CEO, itBit; Toshiya Cho, Hitachi; Jerry Cuomo, IBM; Chris Ferris, IBM; Dirk Hohndel, Intel; Todd McDonald, cofounder and COO, R3; Robert Palatnick, DTCC; Kireeti Reddy, CME Group; Stefan Teis, Deutsche Börse; Dave Treat, Accenture; Yoshinobu Sawano, Fujitsu; Santiago Suarez, J.P. Morgan; and Craig Young, CTO, SWIFT. itBit’s Cascarilla and SWIFT’s Young are newly elected board representatives since the formation in December 2015.
These appointments are made by member vote. The TSC drives technical direction of the Hyperledger Project, while the Governing Board manages business direction, including governance, marketing and operational decisions.
The Hyperledger Project today is also announcing ten new companies are joining the effort and investing in the future of an open blockchain ledger: Blockstream, Bloq, eVue Digital Labs, Gem, itBit, Milligan Partners, Montran Labs, Ribbit.me, Tequa Creek Holdings and Thomson Reuters.
“There is no other effort advancing an open blockchain with this level of broad industry representation and level of leadership,” said Jim Zemlin, executive director at The Linux Foundation. “The Hyperledger Project is among our fastest growing projects at The Linux Foundation. The opportunity is great. This leadership team and the community investments among members across industries put the project in the best position possible to accomplish its mission.”
Peer-to-peer in nature, distributed ledger technology is shared, transparent and decentralized, making it ideal for application in finance and countless other areas such as manufacturing, banking, insurance and the Internet of Things. Research reports estimate that the investment in blockchain by financial institutions alone will grow to $400 million by 2019 (see: Aite Group Blockchain Players in Capital Markets: Where Are the Pioneers Headed?, 2015). By creating a cross-industry open standard for distributed ledgers, virtually any digital exchange with value, such as real estate contracts, energy trades, marriage licenses, can securely and cost-effectively be tracked and traded.
“The Hyperledger Project is gaining traction on a daily basis, displaying how vital this effort is in advancing distributed ledger technology,” said Blythe Masters, CEO of Digital Asset Holdings and Board chair for the Hyperledger Project. “Uniting the industry to drive this initiative forward is paramount to the success of distributed ledger technology. The Linux Foundation and its members are collaborating on an open source infrastructure that will increase privacy and scalability, among many other benefits.”
“These member investments demonstrate that blockchain technology continues to grow in importance as the alternative approach to multinational business transactions,” said Chris Ferris, IBM Distinguished Engineer, CTO Open Technology, and Technical Steering Committee chair, Hyperledger Project. “By providing a community for members to collaborate and contribute to an open source blockchain solution, we’re able to advance the technology collectively and ultimately drive quicker adoption and higher value across industries.”
Images from Linux Foundation.