Ripple just added another feather to its collaboration cap, and this partnership is not a meager one.
It was announced by Hyperledger that it is welcoming Ripple on board as a general partner.
The revered consortium also welcomed 13 other organizations from all over the world to collaborate with it in order to accelerate collaborative research efforts for blockchain and distributed ledger technologies.
Hosted by the Linux Foundation, Hyperledger remains one of the most respected and sought after collaborations in the blockchain industry with 10 business blockchain and distributed ledger technologies. It has members from all over the world, including but not limited to Intel, IBM, Baidu, Daimler AG, and JP Morgan Chase.
Therefore, while Ripple is known for forging partnerships after partnerships with organizations and institutions globally, this could very well be one of the most important alliances for the company.
By the looks of it, Ripple has also proved its mettle to Hyperledger by collaborating towards the utilization of the Interledger Protocol (ILP) in Java for enterprise use.
Ripple’s CTO Stefan Thomas sounds very confident of the partnership and aims towards taking one more step for the company’s vision of seamless cross-border funds transfers through the use of blockchain technology.
Ripple, commonly known as the banker’s coin has been making moves across the banking world as it helps them get caught up to speed with the blockchain and the possibilities that come with. The company has partnered with prominent institutions like Moneygram, Western Union and more.
Ripple provides one frictionless experience to send money globally using the power of blockchain. By joining Ripple’s growing, global network, financial institutions can process their customers’ payments anywhere in the world instantly, reliably and cost-effectively. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets.
With offices in San Francisco, New York, London, Sydney, India, Singapore and Luxembourg, Ripple has more than 100 customers around the world.
“The Hyperledger Quilt project connects Hyperledger blockchains with other ILP-capable payment systems such as XRP Ledger,” Thomas mentioned and added that his will work towards helping Ripple achieve its objective of a world where “money moves as information does today.”
Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration, hosted by The Linux Foundation, including leaders in finance, banking, Internet of Things, supply chains, manufacturing, and Technology.
Why Create Hyperledger?
Only an Open Source, collaborative software development approach can ensure the transparency, longevity, interoperability, and support required to bring blockchain technologies forward to mainstream commercial adoption. That is what Hyperledger is about – communities of software developers building blockchain frameworks and platforms.