Watch this animation for a sneak peek to discover the Linux Foundation plans to unite industry leaders to advance open blockchain technology.

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Supporting the best path forward for an emerging, disruptive, and potentially amazing technology often means giving up a proprietary attitude on how it will be developed and opening the responsibility for its future to an entire industry and the community of technologists who will define, build, implement, and improve the mechanisms to drive its acceptance in society.

The Linux Foundation announces a collaborative effort to advance blockchain technology, a project that will develop an enterprise-grade, open source distributed ledger framework to free developers to focus on building robust, industry-specific applications, platforms, and hardware systems that support trustworthy business transactions.

According to Arvind Krishna, IBM Research SVP and Director:

“It’s essential for blockchain technology to be developed following the open source model so a critical mass of organizations will coalesce around it.”

A number of companies have made early commitments to this project and many of the founding members are already investing considerable research and development efforts exploring blockchain applications for industry. IBM intends to contribute tens of thousands of lines of its existing codebase and its corresponding intellectual property to this open source community.

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