Telefónica joins Hyperledger to develop new services with blockchains

Telecommunications corporation Spanish Telefónica joined Hyperledger, of the Linux Foundation, to develop new services targeted to their customers and business models with blockchains. So informed both parties this Thursday 21 November.The alliance formalizes the relationship that began this year and that has in TrustOS the first product to blockchain of Telephone-based Hyperledger Fabric, one of the solutions of Hyperledger to implement this original technology of Bitcoin as the digital system.On this association, José Luis Núñez, responsible for the Competence Center of Blockchain of Telefónica, says that the key word is confidence that blockchains can offer to the industrial sector. At its discretion the implementation of proposals with blockchains, in the field of business, will only be successful if it is done in an open and collaborative manner.”It is a firm commitment to build ecosystems and networks that provide confidence to the operations of the companies (…) to join Hyperledger reinforce the strategy of Telefónica to create business in networks blockchain by adding a layer of trust to the operations of our customers. Open innovation and collaboration between industries is the only way of dealing with blockchain”, shared the executive on Twitter.

Development and innovation

The that Telephone set an agreement with Hyperledger confirms the trend, among large international companies, wanting to adopt networks, blockchains to integrate them into their production processes, but with actors that are already recognized in the ecosystem and do so in a collaborative way.In addition to Telefónica, Hyperledger also announced that it welcomed its community to BlocWatch, BondEvalue, Ledger, Leopard, LimeChain, Tech Mahindra and Vonechain Technology. Other companies who are already working in Hyperledger are IBM, Cisco, American Express, Consensys, Intel, NEC, SAP, Hitachi, and J. P Morgan, among others.It is important to remember that the Phone also features Wayra, a network of acceleration of projects being developed by the program Blockchain Activation. The intention in this case is to foster the creation of solutions with blockchains so that more companies local or international the incorporate, and thus to improve its productive processes, in case you need an application based on this technology. It is here where works TrustOS.In recent statements offered to Breaking News Núñez noted that the company relies on the blockchains due to the fact that “no one has to validate, certify, or audit what is happening on the network, because the network itself will through that new layer of blockchain”.Hyperledger Fabric is not the only enterprise solution of Hyperledger for the use of blockchains, but the most well known. They are also Hyperledger Besu, Burrow, Indy, Iroha and Sawtooth, each with their specific characteristics for use, for example, contracts intelligent, network, test, algorithms, consensus, or interoperability with other strings.Also known as the technology blockchain technology or accounting distributed (DLT) it is a mechanism that allows you to make secure and reliable transactions peer-to-peer, over the internet, without the intervention of a central authority or intermediaries.It is an articulation of various technologies in that it has action mining, digital nodes, digital wallets and ledger in which are grouped the transactions in the form of a block which are linked linearly to each other. In the case of Bitcoin is used in the area of finance with cryptocurrencies, while that in the business cases what is sought is to improve processes, services or products, without the need for the use of cryptocurrencies.

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