C - Hyperledger Foundation welcomes Citi and BNDES forms Besu Working Group

2024-03-19 09:24:17 ET

The Hyperledger Foundation, an open-source blockchain software developer, has welcomed two new members, Citi (NYSE: C) and the Brazilian Development Bank (BNDES), into its expanding ecosystem.

With these additions, the foundation now boasts 135 members, reaffirming its position as a leader in enterprise blockchain technology.

Membership expansion and working group formation

Citi and BNDES join a diverse array of organizations within the Hyperledger Foundation, including banks, central banks, tech firms, nonprofits, educational institutions, and retailers.

This membership growth underscores the increasing interest and participation in blockchain technology across various sectors.

In line with its commitment to fostering collaboration and innovation, the Hyperledger Foundation has formed the Hyperledger Besu Financial Services Working Group.

Chaired by the Depository Trust & Clearing Corporation (DTCC), a premier-level member of the foundation, this working group aims to strengthen alignment between service developers and organizational users of Hyperledger Besu.

Hyperledger Besu leads the way in tokenization

Hyperledger Besu, a Java-based software with an extractable implementation of the Ethereum Virtual Machine (EVM), has emerged as a leader in asset tokenization.

According to Blockdaemon, more than 40% of surveyed firms cited Hyperledger Besu as their preferred software for tokenization, highlighting its widespread adoption and versatility.

The tokenization landscape, while fragmented, presents significant opportunities for blockchain technology to revolutionize various industries.

With Hyperledger Besu at the forefront, organizations are poised to leverage tokenization for enhanced efficiency, transparency, and security in asset management and transfer.

Fostering collaboration and innovation

As part of the Linux Foundation, the Hyperledger Foundation promotes open-source collaboration and development, enabling a diverse ecosystem of contributors to advance enterprise-grade blockchain solutions.

With support from key industry players such as Accenture, Mastercard, and Visa, Hyperledger continues to drive innovation in blockchain technology across sectors.

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