Blockchain consortium Hyperledger has today announced two new projects, broadening the scope of their research and development of distributed ledger solutions.
The open-source project, which draws significant support from over 100 member companies, unveiled the new projects at a showcase this week, in a move that has been welcomed by the blockchain community.
The first of the two projects is a system known as ‘Project Indy’, which will focus on tools for identity verification on the blockchain.
Pioneered by identity specialists the Sovrin Foundation, the project will aim to develop a suite of applications for users to assist in identification, an essential protocol for a number of use cases including financial services compliance.
Phil Windley, who heads the group, said its aim was to encourage more developers to join forces in developing new proof-of-concept models for the technology.
“Our hope is to attract even more developers who want to unleash the transformative power of digital identity that is truly decentralized, self-sovereign, and independent of any silo.”
Meanwhile, IBM and Oxchain are pioneering the launch of Hyperledger’s second new project this week, known as ‘Project Composer’. Project Composer will seek to develop the commercial networking potential of the blockchain, through developing ‘business networks’ on top of its platforms, such as Fabric.
As with Project Indy, the drive for increased collaboration is said to be at the heart of Project Composer’s objectives.
“By working with the community, we would like to continue to develop Composer to be a powerful and complete development framework that allows users to easily and rapidly build blockchain business networks”, said the group, responding to the launch.
These projects complement the core work of Hyperledger, which has seen the group make significant progress in developing an open source standard for blockchain development.
Its Fabric infrastructure is one of the most widely used development protocols for the blockchain, with IBM having already developed enterprise solutions for specific commercial applications on top of the platform.
The project is fronted by the not-for-profit Linux Foundation, and brings together expertise from across a diverse set of industries to focus on blockchain development.
Members of the Hyperledger consortium, which engage in mutual development of various open-source blockchain projects, include companies as diverse as Daimler, Fujitsu, IBM, JP Morgan, ABN Amro and Nokia.