Absa joins blockchain foundation

Absa has joined the Hyperledger Foundation to broaden its blockchain-related knowledge and expand its network in the distributed ledger community.

The Hyperledger Foundation is an open global ecosystem for blockchain technologies hosted by the Linux Foundation.

“The financial services industry is facing an increasingly competitive landscape driven primarily through the application of new technologies, such as distributed ledger,” said Michelle Anderson, head of strategy and digital partnerships for the Information Technology office at Absa.

“Absa has become a member of 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 added.

The Hyperledger Foundation enables organisations to develop industry-specific applications, platforms, and hardware systems to support individual business transactions with enterprise-grade, open-source distributed ledger frameworks, libraries, and tools.

In addition to Absa, the foundation added eight other members: Datachain, Global Shipping Business Network, Indicio, IoBuilders, Marketnode, MDxBlocks, PalmNFT Studio, and Zeeve.

The foundation said that several new members are already developing and deploying a variety of Hyperledger technologies.

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Absa joins blockchain foundation