Open-source governance and development tools continue to be essential for governments, organizations, and financial institutions looking to utilize blockchain technology. During an interview with Cointelegraph at Paris Blockchain Week, Daniela Barbosa, the executive director of Hyperledger and general manager of the Linux Foundation, emphasized the importance of open-source blockchain technology for global institutions. Barbosa stated that the successful implementation of critical financial infrastructure onto blockchain protocols relies on the underlying network being open-source and governed openly. She highlighted that organizations choose to work with Hyperledger because it operates under the Linux Foundation, which ensures open governance, open development, and has the support of major companies, governments, and organizations.
Barbosa stressed that organizations not only seek open-source tools but also value open development and an active community of diverse maintainers and code contributors. She also discussed the Linux Foundation’s role in fostering open governance and tool development. Barbosa gave examples of the Linux Kernel’s use in various computing systems and Kubernetes’ dominance in cloud computing, emphasizing the embeddedness of open-source infrastructure.
Barbosa questioned whether simply making software and code openly accessible on GitHub is sufficient for ensuring open development and governance. She explained that the Linux Foundation facilitates open governance and development, allowing banks and competing companies like Accenture and IBM to collaborate for the benefit of the community. This approach is crucial in the long term, particularly as regulators may scrutinize ownership and make changes to the underlying code in the financial services industry.
Barbosa also discussed the development history of Hyperledger’s blockchain tools, specifically highlighting Hyperledger Besu as a significant infrastructure offering. Hyperledger Besu is an open-source Java Ethereum execution client that supports both public and private functionality, allowing the execution of all Ethereum smart contracts. It also supports Ethereum token standards, including nonfungible token standards ERC-20 and ERC-721. Barbosa mentioned that in 2019, institutions showed great interest in the Ethereum ecosystem, leading to the collaboration between the Hyperledger Foundation and the Ethereum Enterprise Alliance, with ConsenSys contributing to the development. She revealed that 12% of Ethereum mainnet users utilize Hyperledger Besu as an execution client, with ConsenSys Linea and Hedera Hashgraph also running on the client.
Overall, open-source governance and development are crucial for the successful adoption and implementation of blockchain technology, as they ensure transparency, collaboration, and a diverse community of contributors.