IOHK, the Cardano Development Company to Join Hyperledger Project and W3C

• Toshendra Kumar Sharma
• May 21, 2020

The founder and CEO of Cardano and co-founder of IOHK, Charles Hoskison, recently confirmed that Cardano will join the Hyperledger Project & W3C.  IOHK is a leading engineering and technology company, founded in 2015 by Charles Hoskinson and Jeremy Wood that is committed to using peer-to-peer innovations to provide financial services to three billion people. The group aims to design, build, and maintain the Cardano platform through to 2020.

Cardano will be joining the two organizations focusing on the enterprise use cases as part of its bid for the next five years.

 

Partnership to Help in Bidding Procedure 

 

Hoskinson thinks that IOHK will benefit from their shared knowledge and feels that the partnership will provide an edge in the bidding process. He stated that “We would like to start consolidating some of our enterprise ledger ideas and bring it there, “A,” because there’s just a lot of knowledge in that circle. And “B,” it helps us with the bidding process. When we’re deploying a permissioned system, government procurement and corporate procurements, a little bit more familiar with Hyperledger.”

 

Founded by the Linux Foundation, Hyperledger is an umbrella for numerous enterprise-focused blockchain protocols. According to Hyperledger’s official website, it as an open-source community that is focused on developing a suite of stable frameworks, tools, and libraries for enterprise-grade blockchain deployments.

The World Wide Web Consortium is an international community where Member organizations and the public work together to develop Web standards. It is the leading international standards organization for the World Wide Web that aims to lead the Web to its full potential.

 

IOHK’s Bid Launches Enterprise Version of Cardano Corporate

 

The IOHK contract with the Cardano Foundation is going to expire at the end of this year when the company will submit its proposal to extend the contract to the community. An essential part of this proposal will be the roadmap for creating a business version of Cardano.

According to Hoskinson, “One of the things that we will explore is how do we create an enterprise version of Cardano? And we’ll propose that at the end of the year when we’re proposing to the community IOHK contract renewal for the next five years for Cardano. And there’s going to be certainly an enterprise component to that renewal. And we’d love to pursue that strategy through the hydrologic group at the Linux Foundation.” “The way that we design Catano, we made it very easy to switch between a permissionless and a permissioned mode.”, he added further.

 

Potential of Blockchain Continues to be in Trend 

 

There has been a recent trend in the growth of the blockchain domain. Hyperledger has always been in the limelight as it is an umbrella for various enterprise-focused blockchain protocols. While interoperability continues to pose severe challenges for enterprises leveraging blockchain networks, on May 13, 2020, a new project from Accenture and Fujitsu aim to solve DLT interoperability and joins the Hyperledger Greenhouse. Moreover, billion-dollar industries are using blockchain platforms powered by Hyperledger Fabric to bring trust to traditionally nontransparent markets.

 

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