IBM`s VP Jerry Cuomo Talks About Hyperledger

IBM`s VP Jerry Cuomo Talks About Hyperledger

The person behind the Hyperledger Fabric talks about IBM`s collaborative cross-industry project dedicated to the advancements of blockchain technology

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The person behind the Hyperledger Fabric talks about IBM`s collaborative cross-industry project dedicated to the advancements of blockchain technology.

Hyperledger Fabric is a framework for creating enterprise blockchains that is being used in trial projects by Wal-Mart, Maersk and Northern Thrust, among others. Wal-Mart works on a trackable supply chain to increase food safety, while Maersk is looking to digitize the supply chain.

The start of Hyperledger

IBM has explored different blockchain frameworks like Ethereun, when the company started looking into the technology.

Ethereum is not very modular. We approached the core team to see if we could work with them on a more business and regulatory friendly blockchain system. Unfortunately the Ethereum team couldn’t spend time with us modifying Ethereum.”, said Cuomo in an interview with cryptocoinnews.com.

According to him, IBM was searching for a more business-friendly blockchain system.

“There are some strict EU regulations concerning privacy for businesses and you have to be able to identify whose manipulating the data. That is hard to come around with a project like Ethereum. We looked for other possible partners to work with for a more business oriented blockchain system. We reached out to the Linux Foundation that have a significant track record in how to manage open source projects, and we learned that several companies wanted the same. That’s when we began working with the Linux Foundation on Hyperledger.”, Jerry Cuomo added.

Hyperledger Fabric is an implementation of blockchain technology that should be a foundation for developing blockchain applications or solutions. As cryptocoinnews.com elaborated, it offers a modular architecture allowing components, such as consensus and membership services, to be plug-and-play. Furthermore, containter technology is being leveraged to host smart contracts called “chaincode” that comprise the application logic of the system.

As Cuomo sees it, there isn`t “one” blockchain to rule them all. He explained as quoted by cryptocoinnews.com:

“For creating the optimal solution for businesses, we need blockchains that can talk to each other, that are interconnected. There won’t be one blockchain to rule them all. We believe Hyperledger is a solution where we can create multiple blockchains, but still let them integrate with one another.”

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