A Tokyo-based blockchain company, Soramitsu announced that the company has joined a joint development project of blockchain technology called “Hyperledger Project” which was established by a non-profitable organization, The Linux Foundation.

Blockchain technology is expected to be as the next-generation IT infrastructure technology and to be adapted to various services including financial ones. However, its global standard hasn’t been formed yet, so openly contributing to the advancement of the blockchain technology is necessary.

As a blockchain technology startup, Soramitsu has developed an identity service. The company believes that identity is as infrastructure of all transactions and is significant for the development of blockchain. Soramitsu will contribute to the global open-sourced project.

The number of participation companies to the Hyperledger Project totals 48 including financial infrastructures companies, financial institutions, IT vendors as of May 19, 2016.

Makoto Takemiya, the CEO of Soramitsu, said in the press release, "The adoption of blockchain and distributed ledger technology will be an important step forward in moving towards a protocol-driven economy, where actors can make informed decisions and manage data and assets in an efficient way. We look forward to working with the Hyperledger project to create and promote global standards for interaction with blockchains and distributed ledgers.”

(Source: Soramitsu via PRTIMES )

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