Hyperledger which is a blockchain based project directed by the Linux foundation appeals Oracle to officially become its member as on august 2017. As a platform for its new cloud-based service, the technology giant Oracle intends to use the Hyperledger Fabric Blockchain.
What is Hyperledger Project Background?
This project (Hyperledger project) intends to advance the use of Blockchain technology. It is the open source initiative use to record and verify the transactions. The technology is a peer to peer in nature and has shared, transparent and decentralized system.
However the founding members of the projects are ANZ Bank, CME Group, ABN AMRO and Fujitsu Ltd.
Amit Zavery – Oracle’s SVP for Cloud platforms and Middleware, though the project is key aspect of their projected blockchain-based cloud platforms for commercial use.
“As we develop our Blockchain cloud platform for enterprise use, we believe scalable cross-industry technologies, confidential transactions, and modular architecture promoted through initiatives like the Hyperledger Project, are critical components.”
Earlier Blockchain-based projects of Oracle
In order to improve its internal processes, Oracle was having other blockchain based project in the past. Accordingly, this software giant entered a patent in Sept 2016 and in May 2016 the other patent was in regards to “Accountability and trust in Distributed Ledger Systems”. This aim to present “Fair” governance to permissioned Blockchains.
Related Coverage: Partnership of IOTA Foundation Collaborating with Refugee Nonprofit
Other New members of the Hyperledger Project
Furthermore, Beside the software giant Oracle, BTS and Patientory Foundation are the newest member of initiative. They’ve entered in the project within the election season for new members of the program’s Technical steering committee.