Open-source governance and development tools continue to be essential for governments, organizations, and financial institutions that want to utilize blockchain technology, according to Daniela Barbosa, the executive director of Hyperledger. Speaking at Paris Blockchain Week, Barbosa emphasized the importance of open-source blockchain technology for global institutions. She stated that shifting critical financial infrastructure onto blockchain protocols relies on the network being open-source and having open governance. Barbosa highlighted that organizations choose Hyperledger because of its association with the Linux Foundation and its open governance and development, which is backed by major companies, governments, and organizations. She stressed the significance of not only having open-source tools but also an active community of diverse maintainers and code contributors. Barbosa also discussed the Linux Foundation’s focus on fostering open governance and tool development. She used the Linux Kernel and Kubernetes as examples of the widespread use of open-source infrastructure, stating that all cloud computing runs on Kubernetes. Barbosa questioned whether simply making software and code openly usable on GitHub is enough to ensure open development and governance, emphasizing the role of the foundation in providing these aspects. She highlighted the importance of collaboration among competing banks and companies in the financial services industry, particularly in the face of potential regulatory scrutiny and changes to underlying code. Barbosa also discussed the development history of Hyperledger’s blockchain tools, specifically Hyperledger Besu, which is an open-source Java Ethereum execution client. She explained that institutions became interested in the Ethereum ecosystem in 2019, leading to the contribution of Consensys and the collaboration between the Hyperledger Foundation and the Ethereum Enterprise Alliance. Barbosa mentioned that 12% of Ethereum mainnet users currently run Hyperledger Besu as an execution client, and it is among the top three Ethereum execution clients by user numbers.
The Importance of Open-Source Financial Infrastructure: Understanding Hyperledger