2018 isn’t just a time of consolidation for blockchain and crypto, there’s a multiplication and collaboration of consortia that are often overlooked.
Blockchain consortia are groups of companies that collaborate to advance shared objectives for their technology. With regulation on the horizon these kinds of groups are exploding in membership and impact. This all accelerates education, research, and developer opt-in to blockchain and the digital asset (crypto) spaces.
When we think of blockchain we think of these myriad conferences happening every month, every week, nearly every day all over the globe. However, according to Deloitte, there are already 61 blockchain consortia across a dozen industries globally — significant growth since 2017.
EEA Partners with Hyperledger
I consider myself a bit of a blockchain historian and I follow a lot of the relevant news. This one is worth mentioning:
On 1st October, 2018, the Enterprise Ethereum Alliance (EEA) announced its partnership with Hyperledger, an open source collaborative effort built to advance cross-industry blockchain technologies
This is enterprise level stuff, remember the EEA itself is an enterprise blockchain organization created in March 2017 by Santander, JPMorgan, and a variety of other members. It focuses on improving the privacy, scalability, and security of Ethereum (ETH) blockchain applications.
Read the EEA announcement here. The partnerships seeks to enable more active and mutual cross-community collaboration through event participation, connecting with other members, and finding ways for our respective efforts to be complementary and compatible. The collaboration between the organizations will also further accelerate the adoption of blockchain technologies for business.
Essentially, the the two have become the Associate Members mutually within each other’s organizations as well. Mass adoption of the blockchain technology in the business world is well underway and we know what the barriers are. Even by 2022, many of the obstacles that once stood in the way to blockchain and digital assets will have been resolved.
Hyperledger is pretty impressive. Consider that Hyperledger’s Fabric technology has found its way into a raft of enterprise blockchain-based integrations in various sectors of the global economy. At the end of September, even FedEx joined Hyperledger, which now has over 270 members. Blockchain is now already implemented in areas such as supply chains, logistics and transportation — and this will only increase.
Coding the Future of Blockchain and Digital Assets
“This relationship will also enable Hyperledger developers to write code that conforms to the EEA specifications and certify them through EEA certification testing programs expected to launch in the second half of 2019.”
The Enterprise Ethereum Alliance sponsors the development of specifications and standards for enterprise blockchain networks, with a focus on those aligned with the broader Ethereum ecosystem.
Hyperledger fosters the development of open source software for establishing, managing and connecting enterprise blockchain networks. Thus, it was only a matter of time before the two organizations who have similar objectives, with highly complementary approaches to achieving them, would partner in such a manner.
What it amounts to is a win-win for blockchain and blockchain developers for the acceleration of massive enterprise adoption of the technology.