Hyperledger Blockchain Project Is Not About Bitcoin
VIDEO: Brian Behlendorf, executive director of the Hyperledger Project, explains what the open-source blockchain effort is about and why it's very different from Bitcoin.
The technology concept of blockchain gained notoriety due to the rise of the Bitcoin cryptocurrency, but blockchain has much wider implications and uses, according to Brian Behlendorf, executive director of the Hyperledger Project.
In December 2015, the Linux Foundation announced the launch of the Hyperledger Project in an effort to build an open-source blockchain platform. Blockchain is an approach that enables a ledger of transactions that can be verified through a distributed model. Among the backers of the Hyperledger project are Accenture, ANZ Bank, Cisco, CLS, Credits, Deutsche Börse, Digital Asset Holdings, DTCC, Eris Industries, Fujitsu, IC3, IBM, Intel, J.P. Morgan, London Stock Exchange Group, Mitsubishi UFJ Financial Group (MFUG), R3, State Street, SWIFT, VMware and Wells Fargo.
Behlendorf joined the project in May 2016 as executive director helping to lead the effort forward. Behlendorf is well-known in the open-source community as one of the founders of the Apache Software Foundation.
In a video interview with eWEEK, Behlendorf discusses why blockchain matters as well as how the effort is very different from Bitcoin, which was created by a mysterious developer known as Satoshi Nakamoto. However, the origination of the blockchain idea doesn't matter to Behlendorf or to Hyperledger.
"Blockchain is very transactional, and the ordering of events is very consistent," Behlendorf said.