The Banque de France and the Central Bank of Nigeria were among eight new members announced by the Hyperledger Foundation on 12 September. Other names include CasperLabs and DSR Corp.
The Banque de France had previously completed a trial for a wholesale CBDC in partnership with Hyperledger, IBM, and nine other organizations.
The Central Bank of Nigeria launched a live CBDC on Hyperledger Fabric in October last year.
What is Hyperledger?
The Hyperledger Foundation, which was founded in 2015, is an open ecosystem for enterprise-facing blockchain solutions. It is a venture by the Linux Foundation where developers from around the globe collaborate and contribute to open-source software.
The Foundation aims to leverage the power of distributed ledger technology (DLT) in order to make enterprises more efficient.
According to the whitepaper published by the Hyperledger foundation, it exists to “foster community development of enterprise-grade open source blockchain, distributed ledger, and related technologies, and to drive broad adoption of these technologies.”
The Hyperledger Foundation connects enterprises with similar interests that are deployed on its network and utilize its technology to support their businesses. The foundation boasts more than half of the companies named in the Forbes Blockchain 50 list as in its clientele.
According to a report published by Blockdata, Hyperledger technologies are used by more of the top 100 public companies in the world than any other blockchain platform. Big names include Accenture, IBM, VISA, and Ripple.
Hyperledger CBDC ventures
A number of governments around the world are exploring digital alternatives to their official currency, including Central Bank Digital Currencies (CBDCs). Hyperledger projects that cater to digital currencies are Hyperledger Besu, Hyperledger Fabric, and Hyperledger Iroha.
The Hyperledger community has played an active role in the development and deployment of multiple digital currencies used by central banks.
Research conducted by the European Central Bank found that Hyperledger Foundation products like Hyperledger Besu and Hyperledger Fabric were “fully interoperable with existing fiat systems.” The central banks of Italy, Luxembourg, Spain, France, Lithuania, Austria, and Belgium participated in the research.
The Bank of Thailand, during its demonstration of Project Inthanon, used Hyperledger Besu to meet the functional and non-functional requirements of a retail CBDC. The program was witnessed by fellow Hyperledger members like Consensys and Digital Ventures.
Project Aber, the CBDC pilot program launched by the central bank of Saudi Arabia in association with the central bank of UAE, tested the viability of a shared digital currency.
The program utilized Hyperledger Fabric and concluded that DLT can improve cross-border transactions without compromising financial privacy.
Billionaire Hedge Fund Founder Ray Dalio Steps Down As Co-CIO Of Bridgewater Associates
Billionaire hedge fund founder Ray Dalio has stepped down as chief executive of Bridgewater Associates, according to a transfer of...
NFT Collection Veefriends Physical Collectibles To Debut At Macy’s And Toys’R’Us
In recent times, non-fungible tokens (NFTs) and their physical counterparts have started to debut at well known retail stores and...
This Tether update may finally bear some good results in the weeks to come
Tether, the firm behind USDT, the largest stablecoin made some key changes to its asset reserves. On 3 October, Chief...
Pro-Russian Groups Raised $400,000 In Crypto Since Ukraine Invasion, Report Reveals
Groups supporting Russia’s war effort in Ukraine have been actively collecting cryptocurrency to fund paramilitary operations and evade sanctions, researchers...
MATIC – The how and why of this buying opportunity
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice....
Over $4B laundered through DEXs, coin swaps and cross-chain bridges, Elliptic reports
Over $4B laundered through DEXs, coin swaps and cross-chain bridges, Elliptic reports Oluwapelumi Adejumo · 11 mins ago · 2...
Can MakerDAO’s latest development drive MKR towards its next bull rally
MKR holders that aped in towards the end of September are pleased with their decision considering the healthy run-up in...
Bankrupt Crypto Lender Celsius’ Asset Sale Is Scheduled, Sources Say FTX CEO May Bid
According to a filing published by the U.S. Bankruptcy Court for the Southern District of New York, the crypto lending...
DOGE up 8% as Elon Musk makes new acquisition offer for Twitter
DOGE up 8% as Elon Musk makes new acquisition offer for Twitter Liam ‘Akiba’ Wright · 16 mins ago ·...
Cardano’s [ADA] price reacts this way as Voltaire hint airs
Late in September, Cardano [ADA] released the Vasil hardfork. Positive feelings persisted after the fork, as the network continued to...
Sears Home Warranty Review
Sears Home Warranty Ratings at a Glance While you likely already know Sears for the company’s series of department stores,...
Riot Blockchain produced over $7.1M worth of BTC in September
Riot Blockchain produced over $7.1M worth of BTC in September Andjela Radmilac · 2 hours ago · 1 min read...
Crypto giants criticize Twitter on scam, bot accounts impersonating them
Crypto giants criticize Twitter on scam, bot accounts impersonating them Oluwapelumi Adejumo · 2 hours ago · 2 min read...
Will Litecoin’s new update improve its chances of winning the PoW race
Litecoin [LTC] has been making improvements to its existing technology for quite some time now. In line with the same,...
Ethereum Marks Three Consecutive Red Weekly Closes, Will Uptober Change Its Trajectory?
Ethereum has been one of the cryptocurrencies that have received major support from the crypto community regardless of how the...
Mastercard Debuts Blockchain Surveillance Tool For Banks And Crypto-Centric Card Issuers
On Tuesday, the multinational financial services corporation Mastercard revealed that it is launching a new crypto monitoring product called Crypto...
Research: Grayscale’s GBTC drops to all-time low of $12.5K; conversion to spot ETF could trigger rebound
Research: Grayscale’s GBTC drops to all-time low of $12.5K; conversion to spot ETF could trigger rebound Christian Nwobodo · 2...
Biggest Movers: MATIC Hits 3-Week High, LINK Up Almost 10%
Polygon raced to a three-week high during today’s session, as bullish sentiment returned to cryptocurrency markets. Chainlink was also in...
I’m6 days ago
I’m Doing What Most Parents Are Scared To — Handing My Son A Pile Of Cash When He Turns 21. Here’s Why
Cryptocurrency5 days ago
Is Do Kwon Guilty? How Investors Are Dealing With the Terra Collapse?
Bancorp5 days ago
Circle Launches Cross-Chain Transfer Protocol, USDC Issuer Acquires Payment Orchestration Firm Elements
Alladin4 days ago
A Recent SEC Filing Shows The World’s Largest Asset Manager Blackrock Plans To Launch A Metaverse ETF
Analysis5 days ago
Bitcoin, Ethereum Technical Analysis: BTC, ETH Continue To Consolidate Ahead Of U.S. Consumer Sentiment Data
Brazil5 days ago
Brazilian Securities And Exchange Commission CVM Subpoenas Mercado Bitcoin On Fixed Income Token Investments
Company News5 days ago
Web3 Wellness Platform Amino Celebrates Historic Career of Four-Time NBA Champion Klay Thompson in Inaugural Drop of the GRAILS NFT Collection
Analysis5 days ago
Bitcoin, Ethereum Technical Analysis: BTC, ETH Continue To Consolidate Ahead Of US Consumer Sentiment Data