The Linux Foundation revealed yesterday new members of the Hyperledger Project and its formal open governance structure.

Announced at the end of 2015, the Hyperledger Project is an open source project to advance the blockchain digital technology for recording and verifying transactions.

Representing a diverse group of stakeholders, the founding members of the new project include the following: ABN AMRO, Accenture, ANZ Bank, Blockchain, BNY Mellon, Calastone, Cisco, CLS, CME Group, ConsenSys, Credits, The Depository Trust & Clearing Corporation (DTCC), Deutsche Börse Group, Digital Asset Holdings, Fujitsu, Guardtime, Hitachi, IBM, Intel, IntellectEU, JPMorgan, NEC, NTT DATA, R3, Red Hat, State Street, SWIFT, Symbiont, VMware and Wells Fargo.

Since announcing the intent to form in December, the Hyperledger Project has received proposed code and technology contributions from several companies, including Blockstream, Digital Asset, IBM and Ripple. Other community members are contemplating contributions of their own.

Technical contributions will be reviewed by the newly formed Technical Steering Committee (TSC), which is comprised of industry-leading technical experts. The TSC will oversee the project’s technical direction and working groups, manage multiple contributions to the code base, evaluate proposed contributions and go through an open community process to build out the initial and unified codebase.

Blockchain technology firm Digital Asset acquired Hyperledger last year and moved the technology and trademark to the Linux Foundation. The Project is a collaborative effort to focus on an open platform that will satisfy a variety of use cases across multiple industries to streamline business processes, including finance and countless other areas such as manufacturing, banking, insurance and the Internet of Things.

Jim Zemlin, executive director at The Linux Foundation.

“The Hyperledger Project has ramped up incredibly fast, a testament to how much pent-up interest, potential and enterprise demand there is for a cross-industry open standard for distributed ledgers. Working on its own even the largest global corporation could not match the speed at which our new members are moving blockchain technology forward. Such a broad effort and investment is sure to have a great impact on our personal and professional lives.”

The Hyperledger Project also announced its ratified governance structure. A Board of Directors will guide business decisions, marketing and ensure alignment between the technical communities and members. Nominations are currently open for TSC members.