Blockchain Consortium Hyperledger Loses Members: Reutersbr>
Blockchain consortium Hyperledger Project is reportedly losing its members. The consortium has seen more than 15 members either reduce their financial stake in the group or quit during the course of the past few months, according to documents seen by Reuters.
Hyperledger Project is an umbrella project of open source blockchains and related tools, started in December, 2015 by the Linux Foundation to support the collaborative development of blockchain-based distributed ledgers. The consortium has more than 180 members, including such industry giants as International Business Machines (IBM), Cisco, JP Morgan Chase, and the Bank of England.
Early premier members CME Group, Deutsche Boerse, and blockchain consortium R3 will downgrade to general membership, starting in January. According to Hyperledger’s website, premier members are given board seats in the consortium and pay a fee of $250,000 a year. General memberships range from $5,000 to $50,000 based on the size of the companies. Membership in Hyperledger also requires a separate membership with the Linux Foundation.
“We have seen some members who were part of the initial December, 2015 cohort shift their spending priorities, but remain members of the organization,” Hyperledger executive director Brian Behlendorf said. “We have seen others who never really engaged decide not to renew. This is normal and expected.”