In a significant move towards embracing blockchain technology, Citi and the Brazilian Development Bank (BNDES) have recently joined the Hyperledger Foundation. This strategic partnership aims to leverage blockchain for developing enterprise-grade services and solutions. The Hyperledger Foundation, known for fostering enterprise blockchain technology, now boasts a strong membership of 134 entities, including notable names like DTCC, IBM, and American Express.
A New Era of Financial Innovation
The inclusion of Citi and BNDES marks a pivotal moment in the financial industry’s journey towards integrating blockchain technology for innovative and secure solutions. “We are excited to have joined the Hyperledger Foundation as we are committed to constantly being at the forefront of innovating blockchain and distributed ledger technology,” stated Biser Dimitrov, the global head at Citi’s distributed ledger technology center of excellence.
Besu Financial Services Working Group
In addition to welcoming new members, the Hyperledger Foundation announced the formation of the Besu Financial Services Working Group. This collaborative effort brings together enterprise users and contributors to focus on Hyperledger’s Besu, an open-source Ethereum client that caters to both public and private network use cases.
Industry Giants Collaborate for Blockchain Advancement
The working group includes heavyweights like Accenture, Mastercard, Santander, and Visa, chaired by the Depository Trust and Clearing Corporation (DTCC). This collective effort underscores the financial industry’s recognition of blockchain’s potential and the benefits of open collaboration under the Hyperledger Foundation’s umbrella. “When global financial organizations like DTCC, Citi, Visa, and more step up to collaborate together under this open working group, the market understands the importance of this technology to the financial industry and how working collaboratively in the open under a foundation like ours will drive faster and better outcomes,” explained Daniela Barbosa, executive director at the Hyperledger Foundation.
The Hyperledger Foundation’s growing ecosystem and the launch of the Besu Financial Services Working Group represent a forward-thinking approach to blockchain technology’s role in reshaping the future of financial services.
