Greenstream Technology Joins Global Blockchain Community Hyperledger

A slew of new companies has joined Hyperledger and the Linux Foundation, including the organizations’ first ever Quebec member.

Hyperledger has announced 14 new organizations that have joined their project, including the Montreal-based Greenstream Technology. Other new members include the popular cryptocurrency Ripple and Versia. Overall, the new members represent countries including China, Switzerland, Canada, India and more.

As an open source collaborative effort, Hyperledger was created to advance cross-industry blockchain technologies. Overall, the community has grown to 231 organizations, including powerhouses like Baidu, Accenture, IBM and Intel.

“The accelerating pace of growth and adoption of Hyperledger across industries and geographies underscores the power of our community and the technologies it is building,” said Brian Behlendorf, executive director of Hyperledger. “It also reflects a global awakening to the impact of blockchain for business. Every day, we hear from organizations with new ideas and new applications for our frameworks. Our growing and diverse membership is key to turning that energy and innovation into the building blocks for increasingly business-critical deployments.”

Hyperledger’s goal is to help companies build out industry-specific iterations of blockchain technology through a collection of open source distributed ledger frameworks. The community released Sawtooth 1.0 at the end of January which offers on-chain governance, an advanced transaction execution engine, and support for ethereum.

Greenstream is a company that is focused on building innovative blockchain products focusing on large-scale problems. Their latest focus has been on the legal cannabis world, and they use Hyperledger’s flexible network to build proofs of concept. Hyperledger’s features create the ability to unite several arms of the industry—producers, merchants, customers and regulators—leaving Greenstream with a holistic approach to blockchain and cannabis.

“Every emerging industry needs a technology enabler to help with its challenges,” says Manu Varghese, Greenstream’s CPO. “We are focused on creating a fully compliant, secure & tamper-proof platform that connect different industry stakeholders to transact within the cannabis ecosystem.”

Greenstream is focused on three pain points within the industry: supply chain integrity, a digital payment and settlement solution, and a fully compliant & cohesive decentralized identity solution. Hyperledger helps Greenstream achieve these goals ahead of Canada’s impending legalization in mid-2018.

Hyperledger is no stranger to Canada. In September 2017, they worked with RBC to help the bank to implement blockchain with the goal of improving the speed of payments, reducing complexity and lowering costs.