News from the Ripple (XRP) camp today! Along with thirteen other companies, Ripple is joining Hyperledger, which is an open source collaborative collective of companies seeking to advance cross-industry blockchain technologies. It includes leading members involved in finance, banking, Internet of Things, supply chain, manufacturing, and technology, which includes blockchain technology.
This newly formed Java-based Interledger Protocol was submitted to Hyperledger and has now been accepted. The Protocol is now being called the Hyperledger Quilt.
Stefan Thomas, CTO of Ripple, explained further:
“Through our partnership with Hyperledger, developers worldwide will be able to access Interledger Protocol (ILP) in Java for enterprise use. The Hyperledger Quilt project connects Hyperledger blockchains with other ILP-capable payment systems such as XRP Ledger, Ethereum, Bitcoin (Lightning), Litecoin, Mojaloop, and RippleNet, helping us to deliver on our vision for an Internet of Value – where money moves as information does today.”
The other most recent companies to join forces with Hyperledger include Beijing Truth Technology, Blockchain Technology Partners, CULedger, Greenstream Technology, KompiTech, MATRIX Foundation, REMME, Shenzhen Rongxun Technology, Spin Systems, Versia, and Xiilab Co.
Despite this move, Ripple is currently down 1.29% in the past 24 hours, selling at $0.579847, according to CoinMarketCap data at the time of writing.
Will this move help to contribute to long-term gains for XRP?
Featured image: Make-someones-day