The Wall Street Blockchain Alliance Teams Up With Hyperledger

The Wall Street Blockchain Alliance (WSBA) announced on Wednesday, 12th December that it had joined Hyperledger as an Associate Member.

The WSBA is a non-profit trade effort taken by industry insiders to guide and promote the widespread adoption of Blockchain technology and crypto assets across the industry. Hyperledger, on the other hand, is a leading multi-project, multi-stakeholder effort that has 11 business blockchain and distributed ledger technologies as of now. Its primary goal is to help organizations build versatile and robust, industry-specific applications of Blockchain tech, and to build platforms and hardware systems to support their transactions through open source distributed ledger frameworks and code bases.

The Executive Director of Hyperledger, Brian Behlendorf was happy about the new partnership and said,

“We are very pleased to onboard the WSBA to Hyperledger. As an advocate for the adoption of blockchain technology in the financial sector, the Wall Street Blockchain Alliance is a great fit for the Hyperledger community. Blockchain is quickly becoming strategic technology for financial organizations around the world, and we look forward to seeing WSBA and its members help fuel that growth as part of Hyperledger.”

The new partnership will strive to help financial institutions by identifying, prototyping, developing, and implementing Blockchain solutions all across the industry. The main focus on their areas of collaboration will include identity management, and trade finance, smart contracts, asset tokenization, supply chain, accounting, payments, and legal services.

The Chairman of the WSBA echoed Mr. Behlendorf’s optimism about the membership and said,

“We are excited to join Hyperledger, as it is one of the most progressive, experienced, and dynamic organizations in the blockchain industry. The broad reach of Hyperledger’s projects, combined with its commitment to open source technology finds the necessary balance between interoperability, scalability, and customization to facilitate widespread adoption of blockchain technology throughout the financial sector. I am sure that our members will enjoy and benefit from our close collaboration with this leading industry body.”

Only time will show if this partnership of industry leaders turns out to be fruitful for the parties involved and the industry as a whole, exploiting the collective experience and knowledge of the people involved. But as of now, the leaders of the companies seem to have quite some confidence in their joint efforts.