Global tech giant Intel co-sponsors a major blockchain tech firm Hyperledger for a new blockchain programming project, according to a Forbes report on July 3.
Hyperledger Transact was officially released on June 27, aimed at boosting the compatibility of blockchain networks through a standard interface, or a shared software library for smart contracts execution.
Intel’s blockchain program director, Michael Reed elaborated over the main purpose of the company’s efforts in blockchain development in an interview with Forbes, stating that it is to ensure that distributed ledger technology solutions “run well on Intel silicon.” He noted that the company if further working towards finding out the requirements or standards for blockchain developers in consortiums such as Enterprise Ethereum Alliance.
A number of companies specializing in different industries are involved in the Hyperledger Transact, including tech giants IBM and Intel, tech service firm Bitwise IO and global food supplier Cargill.
The Enterprise Ethereum Alliance (EEA) has over 500 participants including Intel, IBM, Microsoft, US’s largest bank JPMorgan Chase, Big Four auditor EY, blockchain incubator ConsenSys, and blockchain consortium R3. Last month, IBM launched an update on its IBM Blockchain Platform, that enabled it to run on multiple cloud networks such as Microsoft’s Azure or Amazon Web Services.
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