Absa joins global blockchain foundation

Absa Bank has joined the Hyperledger Foundation, an open, global ecosystem for enterprise blockchain technologies. It’s one of nine new members from markets around the world to the grouping.

The foundation allows organisations to “create solid, industry-specific applications, platforms and hardware systems to support their individual business transactions by offering enterprise-grade, open-source distributed ledger frameworks, libraries and tools”, the organisation said in a statement on Wednesday.

General members joining the community are Absa, Datachain, Global Shipping Business Network, Indicio, IoBuilders, Marketnode, MDxBlocks, PalmNFT Studio and Zeeve.

In a statement, Absa’s head of strategy and digital partnerships, Michelle Anderson, said: “The financial services industry is facing an increasing competitive landscape driven primarily through the application of new technologies, such as distributed ledger. Absa has become a member of the Hyperledger Foundation to expand our knowledge and network in the distributed ledger community.

“We intend to broaden our understanding of the use of the technology in the financial services sector and leverage Hyperledger’s enterprise blockchain ecosystems and global open-source collaboration to deliver on new propositions to meet our evolving customer needs,” Anderson said.  – © 2022 NewsCentral Media