The increasing adoption of distributed ledger technology by companies has made it hard for the enterprise solutions providers to ignore the blockchain. In order to keep up with the changing times, SAP – a leading proprietary enterprise solutions provider has joined forces with the Hyperledger project.
An initiative of Linux Foundation, Hyperledger Project has some of the leading names from technology, banking and financial solutions working together to create a blockchain platform. The new addition to the consortium was reported by various tech and open source news publications.
According to reports, by becoming part of the Hyperledger project, SAP is exploring the possibility of integrating distributed ledger technology into its existing range of products including the SAP Ariba network. Regarding the partnership, SAP’s Chief Innovation Officer Juergen Mueller was quoted by a publication saying,
“In joining Hyperledger, we plan to share our expertise and knowledge to help bring open distributed ledger technology to all businesses. We believe blockchain is a transformative technology for enterprise businesses. We are committed to advancing its adoption via the creation of new standards, use cases, platforms and open applications.”
As a part of the Hyperledger Project, SAP Innovation Centre Network will be playing an important role in the research and development activities of the consortium. The vice president of the innovation engineering at SAP, Dominik Heere will become part of the Hyperledger governing board.
In the same report, the executive director of Hyperledger, Brian Behlendorf welcomed SAP’s participation in the initiative. Behlendorf said,
“Having support from an enterprise software and cloud leader like SAP is an important step in the right direction… The diversity of our members is a real strength, as we look to advance open blockchain technology POCs, pilots, and production deployments across many industries this year.”
With Hyperledger’s Fabric blockchain entering the production phase, the distributed ledger technology is already witnessing adoption across industries. Now, SAP will be using the technology to create use cases for provenance scenarios, digital object representations, and collaborative transaction execution.
So far, Hyperledger has exhibited few promising trends which could as well make it the most preferred blockchain solution for enterprise needs.
Ref: Open Source for U | Image: Shutterstock