The Linux Foundation, announced a new collaborative effort to advance the development of blockchain technologies. The foundation has received support from financial institutions, consultants and corporates. Arvind Krishna, senior vice president at IBM Research, summarized the goal of the foundation by saying, “Creating common code will allow organizations to focus on creating industry-specific applications that enhance the value of this technology.”
The Linux Foundation, the nonprofit organization enabling mass innovation through open source, today announced a new collaborative effort to advance the popular blockchain technology. The project will develop an enterprise grade, open source distributed ledger framework and free developers to focus on building robust, industry-specific applications, platforms and hardware systems to support business transactions. Early commitments to this work come from Accenture, ANZ Bank, Cisco, CLS, Credits, Deutsche Börse, Digital Asset Holdings, DTCC, Fujitsu Limited, IC3, IBM, Intel, J.P. Morgan, London Stock Exchange Group, Mitsubishi UFJ Financial Group (MUFG), R3, State Street, SWIFT, VMware and Wells Fargo.