Eight new members have joined Hyperledger, including several firms targeting tokenization initiatives.

Hyperledger is a consortium of firms working on open-source enterprise solutions using distributed ledger technologies (DLT). Launched in December 2015 by the Linux Foundation, the project has since received contributions from IBM, Intel, and other leading tech firms exploring blockchain applications.

Blockchain veterans among the new members, include IOHK, the company behind Cardano (ADA), IOV Labs — formerly RIF Labs — and crypto-friendly payments platform Public Mint. 

Other new entrants include Japanese consulting and PR firm Binarystar, and Atomyze, a tokenization platform launched by Switzerland’s TokenTrust AG.

DB Systel GmbH, is a digital-focused subsidiary of German railway company Deutsche Bahn. Moritz von Bonin, the company’s head of blockchain and DLT solutions, said the company is working on applications for distributed ledger technologies in the context of mobility services, logistics supply chains, and rail control systems.

Brian Behlendorf, Executive Director, Hyperledger said:

“As our line-up of new members underscore, the Hyperledger community is about putting blockchain to work in impactful ways around the world and across industries."

Associating with Hyperledger

The Global Blockchain Business Council (GBBC) and the InterWork Alliance are also joining Hyperledger as new associate members.

The non-profit InterWork Alliance launched earlier this month with the aim of establishing standardized frameworks across platforms supporting distributed applications and tokens.

The GBBC works to engage lawmakers, publishes research on tokenization, and promotes its Global Blockchain Standards Initiative.

Hyperledger pushes for tokenization standards

Earlier this month, Hyperledger established an alliance alongside tech conglomerates Microsoft and IBM to develop global standards for tokenized ecosystems.

In an interview with Cointelegraph, IWA chairman Marlay Gray emphasized the importance of widespread standardization as a requisite foundation for the widespread adoption of tokenization:

“Without a standardized set of common terms, definitions and business level specifications, developers have to interpret inconsistent business requirements and translate them to write code for every blockchain platform and each token standard for a token-based business use case to work. This complexity makes wide-scale adoption difficult,” Gray said.