IOVlabs, the parent company of Bitcoin-powered smart contract platform RSK and its RSK Infrastructure Framework (RIF), has joined the Linux Foundation and Hyperledger. An open source collaboration to advance blockchain technologies, Hyperledger is a Linux Foundation project with more than 250 members, including companies such as Citi, JP Morgan, Telefonica and IBM.
Joining the Hyperledger community paves the way for IOVlabs to utilize Hyperledger Besu technology, alongside its own RIF-based technologies, to develop enterprise and government-oriented projects. Besu is an enterprise-friendly Ethereum client for public and private permissioned networks.
"We are thrilled to become part of the Linux Foundation, one of the leading organizations in the promotion of open source software and ecosystems,” said IOVlabs CEO Diego Gutierrez Zaldivar. “All of the software used within the RSK network and developed by IOV Labs is open sourced, and our ethos closely aligns with that of Linux. Our membership in the Linux Foundation and Hyperledger will accelerate adoption of open blockchain standards that foster financial freedom, transparency, and trust.”
Brian Behlendorf, executive director at Hyperledger, added: "IOVlabs' ambition to establish a fairer and more inclusive financial system lends itself to a number of compelling use cases for blockchain. It's gratifying to envision Hyperledger's open source, community-built technologies as a foundation for that mission. We welcome IOVlab's commitment to creating open, decentralized platforms and the support of its global team in continuing to grow the Hyperledger ecosystem."
IOVlabs has developed a number of blockchain-based solutions for enterprises including Gasnet, a blockchain network focused on Argentina’s natural gas distribution ecosystem, and a proof of concept for the country’s central bank. Now, it plans to expand its offerings through the partnership with the Linux Foundation and the deployment of Hyperledger Besu.
About IOV Labs
IOVlabs develops the blockchain technologies needed for a new global financial ecosystem; one that fosters opportunity, transparency, and trust. The organization currently develops the RSK Smart Contract Network, RIF and Taringa!´s platforms.
The RSK Network is one of the more secure smart contract platforms in the world, designed to leverage Bitcoin’s unparalleled hash power while extending its capabilities. RIF’s suite of open and decentralized infrastructure protocols enable faster, easier and scalable development of distributed applications (dApps) within a unified environment. Taringa is Latin America's largest Spanish speaking social network with 30 million users and 1,000 active online communities.