Collaberation seems to be the new blockchain paradigm, as the Linux Foundation announced another major blockchain consortium.
Big names from the worlds of finance and technology such as Deutsche Boerse, JP Morgan, Cisco and IBM have come together to work on an open-source framework for using the "blockchain" technology that underpins the web-based cryptocurrency bitcoin. The new project will be run by the not-for-profit Linux Foundation, and will focus on building industry-specific applications, platforms and hardware systems to support business transactions. The initiative will include Digital Asset Holdings, the blockchain start-up run by former JP Morgan executive Blythe Masters, who has become something of an ambassador for the nascent technology. The initiative will also work with the blockchain consortium of banks run by financial technology firm R3, which on Thursday said it had added another 12 banks, including Santander and Nomura, and would soon include some of the world's biggest fund managers.