Blockchain Insights from Hyperledger at BlockShow Asia 2019

Gordon’s Take on Xi Jinping’s Blockchain Remarks

At BlockShow Asia 2019, Julian Gordon, the Vice President of Hyperledger for the Asia-Pacific region, couldn’t contain his excitement over Chinese President Xi Jinping’s pro-blockchain statements. “Xi Jinping made that announcement 10 days ago,” Gordon shared, grinning. “The reason I know that is because my phone is sitting on my desk — my WeChat started buzzing and hasn’t stopped since.” Talk about a not-so-subtle hint about the buzz in the industry!

What is Hyperledger?

For those scratching their heads, Hyperledger is an open-source blockchain endeavor hosted by the Linux Foundation. Its mission? To serve as a collaborative environment for blockchain development across various sectors. Major players like IBM, Airbus, and JP Morgan Chase have united with Hyperledger to push the envelope on cross-industry blockchain technologies.

Collaborating with Chinese Firms

Hyperledger is not just a name in the blockchain space; it’s actively working with notable Chinese companies. Both trade finance and letters of credit are areas where Hyperledger shines. For instance, it’s joining forces with e-Visible—a Hyperledger member company—to explore supply chain finance applications. Furthermore, they’re engaged with leading banks in China, including China Minsheng Bank and China CITIC Bank, to sidestep the need for SWIFT in local letter of credit settlements.

The Burgeoning Chinese Blockchain Market

The potential for blockchain in China is sky-high. Gordon expressed sheer admiration for the entrepreneurial spirit of giants like Alibaba and Tencent. Hyperledger evidently shares an endless fascination with the relentless innovation bubbling up from these tech titans.

Connecting Permissioned and Permissionless Ecosystems

In a sector where clarification is crucial, it’s essential to note that Hyperledger operates as a permissioned blockchain. So, what does that mean? Unlike permissionless technologies which feature anonymous participants (looking at you, Bitcoin!), Hyperledger’s ecosystem is curated. But wait, there’s hope! Gordon posits that both ecosystems can coexist. He even mentions that the Ethereum Foundation joined Hyperledger last June—talk about a blockchain meetup!