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Blockchain Giants Unite: VeChain (VET) Partner Deloitte, Norges Bank, and More Join Hyperledger’s Elite Ranks

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  • Hyperledger Foundation welcomes seven influential members, spotlighting the escalating enterprise gravitation towards tokenization and CBDC.
  • Japan’s JSCC integrates blockchain in commodity settlements, while Norges Bank delves deeper into CBDC projects, marking a transformative phase in the financial sector.

The New Pioneers: Hyperledger’s Newest Affiliates

In what can be construed as a testament to blockchain’s expansive grip over modern enterprise infrastructures, the Hyperledger Foundation – renowned for its facilitation of enterprise-level blockchain innovations – has unveiled the addition of seven dynamic members. Each new associate accentuates the burgeoning enterprise interest in the triad of tokenization, blockchain, and central bank digital currencies (CBDC).

Decoding the New Entrants: JSCC and Norges Bank at the Forefront

The Japan Securities Clearing Corporation (JSCC) stands out as a cardinal name in Japan’s financial arena. Serving as the linchpin counterparty clearinghouse for both the Tokyo Stock Exchange (TSE) and various Japanese commodities, JSCC operates under the aegis of JPX, a conglomerate with vested interests in the stock exchange and emergent blockchain technologies.

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Earlier this year, the financial world took notice as JSCC integrated blockchain technologies to streamline the settlement of rubber futures. Here’s the innovation: On maturity, futures holders traditionally receive a ‘delivery order’, distinct from a warehouse receipt, signifying entitlement to the physical rubber. With blockchain infusion, this erstwhile manual process metamorphoses. A token, symbolic of the delivery order, undergoes digital verification by the warehouse operator. Subsequently, this token, embodying the delivery entitlement, undergoes an online transfer to the prospective buyer.

JSCC’s technological pivot, Kei Miyazato, Head of IT Innovation department, elucidated,

“The amalgamation of open-source software, paired with Hyperledger Besu, has fostered JSCC’s monumental launch of our maiden DLT-based production solution this January. It mirrors the immense advantages harvested from the synergies between Hyperledger and the Linux Foundation communities.”

On the European front, Norges Bank’s affiliation with Hyperledger amplifies its consistent involvement in a myriad of CBDC explorations. Contrary to prevalent narratives, Norges Bank’s CBDC sandbox does not employ public blockchain. Instead, it utilizes a bespoke version of Hyperledger Besu. In an international stride, Norges collaborated on Project Icebreaker, partnering with central banking counterparts in Israel and Sweden.

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Pivoting to the subcontinent, the National Payments Corporation of India (NPCI), overseeing prominent payment structures like UPI, has a vision: constructing a quintessential Indian Blockchain Platform, notwithstanding the central bank’s ongoing digital rupee CBDC explorations.

The Hyperledger cohort is further enriched with the inclusion of trailblazers like Blocklabs, Toposware, and Validation Cloud.

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Jack Williams
Jack Williams
As a Blockchain Analyst, I specialize in analyzing the performance of decentralized systems and optimizing their efficiency. Through data analysis, I provide insights on blockchain technology, smart contracts, and cryptocurrencies to help businesses make informed decisions and improve their operations.
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