Indian institutions and startups are continuously achieving great new things in the blockchain space. In latest instance Kerala Blockchain Academy, a joint venture between Indian Institute of Information Technology and Management – Kerala (IIITM-K) and Blockchain Education Network (BEN), has been selected as a member of Linux Foundation’s Hyperledger project. It’s first institution in India to achieve this feat, which is a major achievement and also a proud moment for all of us. Let’s understand what this means for the academy and our nation.
Hyperledger Project: What Is It?
To understand the importance of this achievement and what will KBA do after becoming a member of project it’s important to first of all get some background information on Hyperledger project. It’s an open source joint initiative under the oversight of Linux Foundation with mission of advancing the blockchain technology. As many as 231 institutions (both educational and corporates) from 25 countries are part of it.
The experts involved in it come from many different backgrounds including Internet of Things (IoT), finance, banking, construction, distribution and other areas. Linux Foundation has 70 Hyperledger-like initiatives under its oversight, but among all of them Hyperledger is growing the fastest.
Recently 14 major companies also joined the group, which include Huawei, Swiss telecom giant Swisscom AG, German automobile maker Daimler and Chinese internet giant Baidu. As you can see, it quite possibly is a club of some of the best technical minds in the world.
What will KBA do as a member of Hyperledger?
KBA has been granted an associate membership in the project along with Cambridge University’s Centre for Alternative Finance. As a member its role will include devising code bases and ledger frameworks of enterprise standards that can be used for easier business transactions around the globe. It may also work on some frameworks that aid in development of market oriented apps and hardware.
Hopefully in the coming days we may hear about some great blockchain innovations coming out of Kerala. Let’s hope for the best!