Our website needs some good Author. Who can write Cryptocurrency and Blockchain related article. If anyone is interested writing article in our website, please SignUp.
great-wall-of-china

Hyperledger’s Next Act: A Blockchain Bridge to China

November 10, 2016 at 7:16 PM | By Jit Sutradhar News

Great Wall of China

If blockchain is done right, borders will begin to disappear.

Immutable, shared ledgers of transactions and goods could come to serve as a reminder that everything we grow, build, buy and sell comes from the same tiny planet.

But this future is far from guaranteed, and the various blockchain developer groups competing to bring it to life have so far struggled to involve talent from all over the world in this global vision.

Blockchain consortium Hyperledger, for example, was initially founded with support from companies in almost exclusively Western nations. Yet, the consortium has grown this year to include more than 20 members headquartered in China and 10 from Japan and South Korea, with a spattering of members from other nations represented as well.

With that success, Hyperledger executive director Brian Behlendorf has faced a new challenge, creating a system that allows information to flow between its multilingual members as seamlessly as data on a blockchain.

The answer, he hopes, is called the Technical Working Group China, and if a proposal he is currently writing is accepted by the members, it could help bridge multiple cultural gaps around the world.

Behlendorf said:

“If we build these systems right, they can help us cross-borders and using a common technology platform to do that helps us get there faster.”

The trick Behlendorf will try to navigate is to create a community that strengthens the Chinese firms’ sense of belonging by making it easier for them to connect, without accidentally turning that bridge into a barrier between them and other members.

Of the companies now headquartered in China, several are startups that specialize in blockchain. But two recent members are also the largest.

The privately held Shenzhen-based electronics firm Huawei joined in October after generating $60bn in revenue last year. Further, in September, another privately held firm, Beijing-based Wanda Group, became Hyperledger’s first China-based premier member after generating an annual income of $38.8bn.

In theory, the more companies that participate, the greater the network effect each would enjoy.

Blockchain China

While Hyperledger’s China contingent has grown, it is not alone.

Nationally, Chinese investors and financial institutions have moved this year to embrace blockchain, even as the government sends mixed signals.

On 11th May, Chinese firms joined together to form the ChinaLedger Alliance, and by the end of that month, 31 firms had partnered to create the Financial Blockchain Shenzhen Consortium. Both groups were designed to help China reap greater rewards from blockchain efficiencies.

Then, days after the launch of the Shenzhen group, Shenzhen-based Ping An became the first financial institution in China to join New York-based R3CEV blockchain consortium.

But the push to build a financial infrastructure that crosses borders also includes work with business on public blockchains.

Less than a month later, blockchain startup Circle announced a $60m Series D investment led by Beijing-based IDG Capital. The investment was positioned as a way to expand the company’s efforts into China.

The proposal

It was against that backdrop that Hyperledger’s executive director sent the first email proposing what he dubbed, the Technical Working Group China.

On 26th October, Behlendorf wrote that the formation of the group could serve as “a bridge” between the global Hyperledger community and the greater China region.

Reaction to the proposal has been positive, Behlendorf said.

In a technical steering committee meeting last Thursday, he further advanced the idea, explaining that the group should consist of 11 people including co-chairs who might take turns attending the English-language technical steering committee meetings.

If the proposal is passed, the co-chairs will likely be comprised of volunteers, he said. A member of the Technical Steering Committee from Huawei volunteered himself in a public listserv to help bridge the gap between the communities and help bridge language barriers.

“It’s not just about asking questions and getting support, it’s got to be about helping those developers become actual contributors to the project,” Behlendorf told CoinDesk. “What we get in terms of intellectual property contributed will more than pay off.”

More than language

Of course, it’s not just language that separates some of the Chinese members of Hyperledger from other members of the community. There’s a lot of distance too.

Another member of Huawei spoke up in perfect English during the meeting last week to say he didn’t think language would be nearly as big an issue as the time-zone differences.

Another possibility currently being discussed is a rotating presence of various chairs on the weekly Technical Steering Committee call.

Already, product manager Zhibei Yu of Hyperledger member, Yunphan Group, confirmed to CoinDesk the firm intends to volunteer to participate, calling the working group a “brilliant idea.”

The founder and CEO of early Hyperledger member, Shanghai-based Bitse, says his company hasn’t experienced issues with collaborating across borders. But nevertheless, sees value in the initiative.

DJ Qian told CoinDesk the group would be especially beneficial as a way to integrate new members to Hyperledger’s own unique multinational culture.

“We think this will be an excellent onboarding tool for the new Chinese members,” said Qian. “This will help accelerate the progress of this global blockchain effort.”

Feet on the ground

Currently, Hyperledger’s executive director is writing up a formal proposal which he intends to present to the group today for a formal vote.

If all goes well, the group should be formed in time for Hyperledger’s first China hackathon, tentatively planned for 7th and 8th January 2017.

One of the hackathon organizers from Wanda Financial Group, also addressed the group during the meeting. He said he expects “every member” will participate in the hackathon.

Now, an unnamed company that specializes in helping foreign companies find professionals in China is working with a recently hired Hyperledger sales and accounting manager to help expand the consortium’s presence.

Behlendorf concluded:

“We see that team growing.”

 

Article Source: http://www.coindesk.com

Comments (215)

  • I and my guys were actually analyzing the best tips and hints found on your site and so immediately came up with a terrible feeling I never thanked the web site owner for those secrets. These women ended up as a consequence warmed to study all of them and have now without a doubt been tapping into these things. Appreciation for getting well thoughtful and then for opting for such high-quality areas millions of individuals are really needing to be informed on. Our sincere apologies for not saying thanks to sooner.

  • I precisely wanted to say thanks yet again. I am not sure the things that I could possibly have handled in the absence of the type of smart ideas shared by you about my problem. Completely was a difficult situation for me, however , looking at the specialised form you treated that made me to jump over joy. I am just thankful for this service and then hope that you find out what a great job you have been getting into teaching others via your web blog. I am sure you have never met all of us.

  • I want to voice my admiration for your kind-heartedness in support of people who require assistance with this area of interest. Your very own commitment to getting the solution throughout had been amazingly interesting and have in every case encouraged folks like me to get to their pursuits. Your entire warm and friendly guidelines implies much to me and especially to my office colleagues. Thanks a lot; from all of us.

  • I definitely wanted to construct a simple comment to be able to express gratitude to you for all of the amazing advice you are showing on this website. My particularly long internet lookup has finally been paid with reputable facts and strategies to go over with my good friends. I ‘d point out that we visitors are very much fortunate to exist in a fabulous place with very many outstanding people with interesting solutions. I feel really happy to have encountered your site and look forward to really more entertaining minutes reading here. Thanks once more for a lot of things.

  • I’m commenting to make you be aware of what a superb encounter our princess enjoyed visiting your web site. She realized numerous pieces, including how it is like to possess a marvelous teaching mindset to have folks clearly grasp various tricky topics. You undoubtedly exceeded our own expected results. Thank you for giving these effective, trustworthy, explanatory as well as fun thoughts on that topic to Sandra.

  • My husband and i felt so thankful Ervin managed to round up his inquiry from your ideas he was given through the site. It’s not at all simplistic just to always be giving for free solutions which often many people may have been selling. So we fully grasp we have got the writer to appreciate for that. The entire illustrations you’ve made, the straightforward site navigation, the friendships your site make it possible to create – it’s most awesome, and it is aiding our son in addition to our family consider that the topic is thrilling, which is certainly unbelievably vital. Thanks for all the pieces!

  • Thank you so much for giving everyone an extremely pleasant opportunity to read from here. It’s usually so superb and also packed with a great time for me and my office mates to search your website particularly three times per week to study the fresh issues you will have. And lastly, I am also usually amazed with the magnificent tips and hints you serve. Certain 1 facts in this article are really the most suitable we’ve ever had.

  • Thank you a lot for giving everyone a very terrific chance to discover important secrets from here. It’s always so pleasurable and as well , jam-packed with fun for me and my office fellow workers to visit your site at the very least three times per week to find out the fresh items you will have. And indeed, we’re certainly pleased concerning the powerful tactics you serve. Some 3 points in this post are particularly the most beneficial we have all had.

  • My spouse and i felt quite relieved Peter managed to complete his analysis because of the ideas he acquired from your very own weblog. It is now and again perplexing to simply find yourself releasing procedures which usually the others might have been trying to sell. And now we realize we now have the writer to thank because of that. The most important illustrations you’ve made, the straightforward blog navigation, the friendships you will help to instill – it’s got everything impressive, and it’s really letting our son in addition to our family imagine that this subject is satisfying, and that is highly fundamental. Many thanks for everything!

  • I definitely wanted to send a remark so as to appreciate you for all the fantastic techniques you are giving on this website. My time-consuming internet investigation has finally been rewarded with reliable facts to share with my visitors. I ‘d believe that most of us readers actually are unequivocally lucky to live in a perfect place with very many awesome people with beneficial points. I feel very fortunate to have used your web site and look forward to tons of more awesome times reading here. Thanks once more for a lot of things.

  • I want to convey my appreciation for your generosity for men and women that require guidance on that theme. Your special commitment to getting the solution all through has been quite good and has surely empowered most people like me to arrive at their desired goals. Your amazing useful hints and tips indicates much to me and extremely more to my office colleagues. With thanks; from all of us.

  • I wanted to put you one very little word in order to say thanks a lot once again on the awesome guidelines you have featured on this website. This has been so shockingly open-handed of you to provide extensively precisely what a few people might have supplied for an ebook to make some profit for themselves, principally now that you could possibly have tried it if you ever wanted. These creative ideas as well acted as a easy way to recognize that other people online have similar dreams really like my personal own to understand significantly more on the topic of this problem. I’m sure there are many more pleasurable occasions in the future for individuals that take a look at your blog post.

  • Thanks a lot for giving everyone such a marvellous opportunity to read articles and blog posts from here. It can be so sweet and also jam-packed with a good time for me personally and my office fellow workers to visit your website at the very least three times in a week to learn the latest tips you have got. Of course, I’m just at all times amazed considering the stunning creative concepts you serve. Certain 3 points in this posting are in truth the best I have had.

  • Thank you for your entire efforts on this site. Debby really likes setting aside time for internet research and it’s obvious why. Many of us know all of the compelling means you deliver both useful and interesting information on the web blog and even attract participation from others on the point then my princess is in fact being taught so much. Have fun with the remaining portion of the year. You’re performing a powerful job.

Write a Reply or Comment

You must be Logged In or Sign Up to post a comment.