IBM demonstrated its commitment to Hyperledger and enterprise blockchain development by contributing the largest-ever open-source code contribution.

It is estimated that in the next five years, the global blockchain technology market will reach 72 billion US dollars. However, to ensure this growth, blockchain solution providers must continue to evolve and innovate.

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Advancing Open, Permissioned Blockchain Networks

Most recently, computing giant IBM announced that it has made public most of its blockchain platform code to help increase enterprise blockchain adoption.

According to Kareem Yusuf, general manager of IBM's artificial intelligence and blockchain applications division, this is one of IBM's largest contributions to open source code. He further pointed out that the company will launch a new Hyperledger Fabric support product, and at the same time donate the code that supports token transactions on the Hyperledger Fabric platform, the Fabric Token SDK.

For example, Hyperledger executive director Behlendorf noted that Fabric's "Token SDK" will help formalize Fabric's approach to token management. Creating tokens on Hyperledger has always been possible, as Metacoin (MTC) was the first cryptocurrency to be created on Hyperledger and get mainnet launched in 2018.

Another lab, the "Fabric Smart Console," makes managing clusters of Fabric nodes across the network easier to monitor and manage, Behlendorf added. Once IBM's fully supported offerings become available this fall, it will be easier for developers to take advantage of both labs. The offering will include access to IBM-certified images, code security scanning and 24/7 customer support.

Yusuf said, “Being able to manage Hyperledger Fabric has been a challenge. The main consideration here is the support aspect. If all support costs are embedded in one project, then it cannot be monetized in other projects, and the cost will higher. However, it is possible to create a standardized support offering to accommodate multiple use cases."

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The Hyperledger community is expected to grow

In addition to advancing enterprise blockchain adoption with an open, permissioned network, IBM's code contributions may attract more developers to the Hyperledger community.

Behlendorf believes that the impact of IBM's open source offerings will bring more developers to Hyperledger Fabric and the community at large. This will inspire more people to become code contributors and core maintainers.

Hence, businesses using Hyperledger Fabric are likely to grow. For example, the Filecoin Foundation recently announced that it has become a member of the Hyperledger community. Marta Belcher, Chairman of the Board of Directors of the Filecoin Foundation, commented that Filecoin (FIL) distributed storage capabilities have great potential in the enterprise space. We are excited to join Hyperledger, the technology leader in enterprise blockchain, to explore these possibilities, and it is worth noting that IBM's code contributions to Hyperledger Fabric demonstrate the company's commitment to advancing enterprise blockchain, which is key to understand, Because there were previous rumors that the IBM blockchain team was "disbanding".