IBM-Backed Hyperledger Releases Fabric 1.0 for Blockchain – Fortune.com

IBM-Backed Hyperledger Releases New Blockchain Code ‘Fabric’

Companies of all sorts are scrambling to create standardized versions of blockchain software and, on Tuesday, one group of them reached a major milestone in the space by releasing its vision of blockchain to the public.

The software, known as Fabric 1.0, has been stitched together over the last year by an outfit called Hyperledger, which represents the efforts of IBM and other companies to deploy a blockchain tool that can do things like track food shipments or keep track of diamond sources.

If you’re unfamiliar, blockchain is a software-based ledger system that uses multiple computers to create an indelible, tamper-proof record of transactions.

The most famous example of blockchain in action is the cryptocurrency bitcoin but companies of all sorts—including banks, tech firms, and retailers—have been building their own “chains” in the belief they will dramatically improve supply chains and lower the cost of record keeping.

More at: IBM-Backed Hyperledger Releases Fabric 1.0 for Blockchain – Fortune.com

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