Digital Asset Holdings and Hyperledger today announced that they have entered into an agreement under which Digital Asset will acquire San Francisco-based Hyperledger, a technology firm that developed an innovative distributed ledger to allow banks and other financial institutions to clear and settle transactions in real-time.
The Hyperledger and Digital Asset teams will join forces and Hyperledger CEO, Dan O’Prey, will become Chief Marketing Officer of Digital Asset, and CTO Daniel Feichtinger will join the senior engineering team. Hyperledger’s technology enables financial institutions to create multiple private blockchains across a known group of participants. Unlike other distributed ledgers, Hyperledger does not have an inbuilt crypto-currency and uses a proven consensus algorithm capable of thousands of transactions per second.
Hyperledger is also a finalist in the SWIFT Innotribe startup challenge, a year-round competition that seeks to bridge the gap between the startup ecosystem and the financial services community by introducing the world’s brightest startups to highly qualified industry experts, banks and venture capitalists.
Digital Asset has also announced its earlier acquisition of Bits of Proof, a software company based in Budapest that has built and deployed an enterprise level server to integrate blockchain technology into financial applications. Tamás Blummer, Founder and CEO of Bits of Proof has joined Digital Asset Holdings as Chief Ledger Architect.
“Hyperledger and Bits of Proof add valuable new dimensions to our product offering and great talent to our team. We build tools to help clients harness the power of distributed ledgers to serve their own customers. We integrate financial infrastructure with a variety of innovative new technologies inspired by the blockchain. Different ledger technologies serve different purposes and all of those we integrate with are additive,” said Blythe Masters, CEO of Digital Asset.