Problems Hyperledger: the consortium has lost a few members, funding is reduced

Hyperledger, the international blockchain-a consortium of leaders of industry, Finance, banking, Internet of things and many other sectors, are faced with problems. More than 15 members has reduced the financial support of the group or completely withdrew from the consortium over the last couple of months.

The number of leading players in Hyperledger, has always been significant as the financial support received by the group from its richest members. In the list of Hyperledger was attended by representatives of American Express, IBM, Intel and J. P. Morgan. Unfortunately, the community may reduce the pace of development due to the fact that the reasons for continued membership in the consortium is getting smaller. In addition, some members of the Association began to pay more attention to other professional associations.

For example, JP Morgan Chase left R3, another blockchain consortium, which is also included in Hyperledger. Shortly thereafter, Goldman Sachs, Banco Santander and several other companies followed in the footsteps of the Bank Jamie diamond. Participants who retained their membership, has significantly reduced financial support, abandoning the premium membership in favor of common – did exchange operators CME Group and Deutsche Boerse. All these changes will come into effect from January 2018.

Premium membership gave the participant the right to sit on the Board of Directors of the consortium and worth $ 250,000 a year. For comparison, a regular membership costs from 5 000 to 50 000 $ depending on the size of the company.

Although it seems that Hyperledger is weakened, consortium’s General Director Brian Behlendorf (Brian Behlendorf) believes otherwise. Behlendorf, even noted that the number of consortium members «increased significantly» this year:

«Some members of the group who were participants of the consortium since its inception in the year 2015, changed your priorities, but remained part of the group. The other members that never participated in the consortium, left it this year. This is normal and quite expected».

With bitcoin reaching new heights and technology of the blockchain, spreading more and more in different industries, Behlendorf really don’t need to worry. Because technology can reduce costs for businesses, more organizations can join other groups or form their own, such as Enterprise Alliance Ethereum and R3.

To date it has been implemented several full-scale applications based on the technology of the blockchain, but in order for the results of their implementation in the sectors of Finance, health and logistics become apparent, companies still need to invest millions of dollars in research and development to gain competitive advantage.

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