partnership

One of Japan's biggest IT corporations is expanding its role in the Hyperledger blockchain project.

NEC Corporation, the Linux Foundation-backed initiative announced today, has become a premier member of the group. Daichi Iwata, who leads the NEC's fintech business development office, is also joining Hyperledger's governing board.

NEC was among a group of companies to join the Hyperledger project in early 2016, just weeks after the effort first began. Hyperledger formally launched in December 2015, backed by firms including IBM, JPMorgan and the London Stock Exchange, and has since grown to include more than 100 startups and established companies among its ranks.

In statements, the firm indicated that its expanded work with Hyperledger would build on its past efforts focused around the tech.

"We believe blockchain is a transformative technology and are committed to advancing its adoption by contributing our expertise and knowledge to the Hyperledger community," Osamu Fujikawa, who heads NEC's business innovation unit, said in a statement.

In addition to its work with Hyperledger, NEC has played a role in blockchain development within Japan's finance space. Last October, Sumitomo Mitsui Trust Bank announced that it was exploring concepts around trade finance and asset custody, working with NEC and IBM’s Japanese arm to test prototypes.

Image via Shutterstock

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