Hyperledger Besu Attracts Industry Giants Citi and BNDES for Blockchain Innovation
The Hyperledger Foundation, a global ecosystem for enterprise-grade blockchain technologies, has recently welcomed two esteemed institutions, Citi and the Brazilian Development Bank (BNDES), as new members. This addition underscores the increasing recognition of blockchain’s potential in shaping the future of financial services.
Hyperledger Besu, a Java-based client offering both public and private permissioned networks use cases, has emerged as a linchpin in the digital assets landscape. A recent survey conducted by Blockdaemon revealed that over 40% of surveyed firms, including bank asset managers and clearing houses, prefer Hyperledger Besu for its robust features and flexibility.
To further catalyze innovation in financial services, Hyperledger Foundation has inaugurated the Hyperledger Besu Financial Services Working Group. Chaired by DTCC, this collaborative effort aims to align development priorities and enhance the capabilities of Hyperledger Besu. Notable founding members of this working group include Accenture, Mastercard, Visa, and other leading industry players.
“The financial services market is quickly coalescing around Hyperledger Besu as an institutional-grade Ethereum client,” noted Daniela Barbosa, Executive Director of Hyperledger Foundation. She emphasized the value of community-driven development in shaping the future of financial markets.
Moreover, Hyperledger’s commitment to advancing blockchain education is exemplified by the introduction of the Hyperledger Besu Certification program. This initiative empowers candidates to demonstrate their proficiency in designing production deployments, thereby facilitating the growth of Hyperledger Certified Service Providers (HCSPs).
The establishment of Hyperledger Web3j, an integration library for Ethereum, and the release of Hyperledger Bevel 1.0 underscore Hyperledger’s dedication to accelerating blockchain adoption. These developments not only enhance the scalability and security of blockchain networks but also pave the way for their seamless integration into enterprise ecosystems.
Citi’s decision to join the Hyperledger Foundation reflects its commitment to pioneering innovative solutions in the blockchain space. Biser Dimitrov, Global Head at Citi’s Distributed Ledger Technology Center of Excellence, expressed excitement about shaping the future of finance through collaborative efforts.
In parallel, the Brazilian Development Bank’s participation underscores the global traction of Hyperledger technology, with numerous regional networks leveraging Hyperledger Besu for their blockchain initiatives. From tokenization to central bank digital currencies (CBDCs), Hyperledger Besu’s versatility makes it a preferred choice for a wide range of financial use cases.
The launch of the Besu Financial Services Working Group signals a new chapter in the evolution of enterprise blockchain. By fostering collaboration among industry stakeholders, Hyperledger Foundation aims to accelerate the development and adoption of blockchain solutions, driving innovation and efficiency in the financial services sector.
