Ripple has joined the ranks of 14 other organizations that are from all over the world by coming into partnership with an open source Hyperledger. By joining Hyperledger blockchain consortium that aims for blockchain revolution, Ripple wants to allow the access to Interledger Protocol (ILP).
Ripple joins 14 firm consortium of hyperledger blockchain revolution
Ripple made the announcement of its latest collaboration with the Hyperledger. Governed by Linux Foundation, Hyperledger is an open source initiative to promote the blockchain technology. A consortium of blockchain revolution, it comprises of 14 organizations from Switzerland, the British Virgin Islands to Spain and India among many more from all over the world.
This partnership is an important step for Ripple in establishing as the Internet of Value. Ripple is a part of the 14 companies’ group that belong to various industries viz. Internet of Things, finance, manufacturing, banking, technology, and supply chain.
Hyperledger that was first launched towards the end of 2015 has added about 200 organizations till now. CULedger is another partner of this consortium which in itself is a group that is basically backed by a credit card unions group last year.
An initiative to access interledger protocol
The CTO of Ripple, Stefan Thomas said in a statement:
“Through our partnership with Hyperledger, developers will be able to access Interledger Protocol (ILP) in Java for enterprise use.”
Under the new moniker Hyperledger Quilt, both the companies submitted the reorganized protocol to the Hyperledger.
Thomas further explained:
“The Hyperledger Quilt project connects Hyperledger blockchains with other ILP-capable payment systems such as XRP Ledger, Ethereum, Bitcoin (Lightning), Litecoin, Mojaloop, and RippleNet, helping us to deliver on our vision for an internet of value – where money moves as information does today.”
A few of the recent companies to join Hyperledger are Blockchain Technology Partners, MATRIX Foundation, CULedger, Beijing Truth Technology and Spin Systems among many others. With Hyperledger planning to advance the open-source blockchain platforms and launch an enterprise blockchain tool, it’s a busy year ahead for the consortium.
Though Ripple made headlines with this partnership, it is still experiencing a price fall and is currently at $0.5344.
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