Hyperledger Is Losing Members
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Hyperledger Is Losing Members

Hyperledger Is Losing Members

Led by the Linux Foundation, Hyperledger was launched in 2015 to develop blockchain technology. Blockchain is a shared record of data that is maintained by a network of computers on the internet. Hyperledger thus is a consortium of firms working together.

Now, over 15 members of the blockchain consortium have either cut their financial support for the project or quit the group over the past few months. Among these are the CME Group and Deutsche Boerse. They were premier members of the group and will now downgrade to a general membership. Spokespeople for CME Group and R3 confirmed the companies had downgraded their membership. Deutsche Boerse declined to comment.

Hyperledger executive director Brian Behlendorf said in a written statement that the group has seen “tremendous growth in membership” in 2017. “We have seen some members who were part of the initial December 2015 cohort shift their spending priorities but remain members of the organization,” Behlendorf said. “We have seen others who never really engaged decide not to renew. This is normal and expected.”

Not all members feel the same as the CME Group and Deutsche Boerse. “As one of our key areas of business is providing consulting services to help companies decide whether blockchain or other distributed ledger technologies is right for them, as well as which one would be best, it was natural for us to decide to become a member of Hyperledger,” said Travin Keith, Founder of Agavon. “This way, we join many other great businesses taking blockchain technology forward in the right way.

We look forward to being active members of the community by collaborating with others and contributing to the ecosystem, especially since some members of our team have already been doing so over the past year.”

Elias Haase, Founder of B9lab added, “We have been watching the enterprise blockchain space for a while, and the work of everyone involved in Hyperledger has been the most consistent and convincing by far. We decided to build an in-depth developer course for Hyperledger Fabric, and more courses will be following for the other incubated projects. Our aim is to bring more talent into the market where the community and technology really merit it. We’re thrilled to be a part of the growing Hyperledger ecosystem.”

“China Minsheng Bank continues to focus on and explore the applications of blockchain technology in the financial industry,” said Niu Xinzhuang, general manager of the science and technology department of China MinSheng Bank. “Also, through technology leading business, change and innovation, China Minsheng Bank provides more efficient, more convenient, more intelligent financial services for clients. We’re very excited to join Hyperledger and contribute to this community.”

Megha Shah
Megha Shah
A dreamer, traveler, aspiring entrepreneur and a bookworm beyond repair, Megha Shah is extremely fond of writing and has been doing so since she was a child. Apart from being a part-time writer, Megha is currently in college, pursuing B. Com. (Hons). Megha is an ardent follower of ‘Hardship, Hustle and Heart’ and firmly believes in the power of hard work and destiny!

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