Elemential Labs Pvt Ltd announced that it’s participating in Hyperledger, an open source collaborative effort created to advance cross-industry blockchain technologies hosted by The Linux Foundation.
Julian Gordon, Vice President, Asia Pacific, Hyperledger, Linux Foundation APAC Limited, said
Elemential is a key contributor in the Indian ecosystem. They are building large projects with major enterprises across a multitude of industries including KYC, capital markets and trade finance. We are delighted to have them on board as part of our open source community and are even happier to see them using our frameworks for their use cases.
The Linux Foundation is a non-profit organization and dedicated to building sustainable ecosystems around open source projects to accelerate technology development and industry adoption. Hyperledger is a global collaboration, hosted by the Linux Foundation and started in 2015. At present, it has more than 250 members worldwide. Hyperledger aims to build an ecosystem where members and non members can collectively maintain open, cross-industry, code bases and frameworks built upon blockchain technologies.
Speaking about the membership, Raunaq Vaisoha, CEO of Elemential Labs Pvt Ltd said
Hyperledger has recognized that in order for Blockchain to get mainstream adoption in the enterprise world, it has to separate itself from permissionless ledgers like Bitcoin and Ethereum. Distributed systems require trust between parties to succeed. Permissioned ledgers create an environment of trust. We are excited to be members of an ever growing global community of blockchain evangelists from enterprises all over the world.
Elemential is currently building NSE’s CKYC Blockchain implementation to transform the KYC process in India. Beyond this, it is also building three other projects with NSE and its clearing and settlement subsidiary NSE Clearing, tackling the issues of collateral management, institutional trade confirmations and proxy voting, all powered by Hyperledger Fabric.
About Elemential
Elemential is a blockchain start-up based out of Mumbai. It enables enterprise engineering teams to build, deploy and manage blockchain networks seamlessly using its product suite – Elements [Smart Contract Framework], Command Centre [Administration Console] and Hadron [Open Source Installer]. Elemential’s platform has been trusted by several major Financial Institutions and has been leveraged by NSE. It is backed by major investors such as Matrix Partners, Lightspeed Venture Partners, Hinduja Group and DCG.