Korean Blockchain Startups Should Know about Hyperledger Iroha

Soramitsu’s Hyperledger Iroha

Japanese Blockchain Fintech startup Soramitsu is focused on developing a digital identity platform for blockchains.  Therefore, they have already developed Hyperledger Iroha which is a next-generation permission based blockchain platform, that is focused on helping businesses and financial institutions manage digital assets.  In addition,  Hyperledger Iroha is written in C++, making it perfect for uses cases where high performance and reliability are needed, or for embedded systems.

Hyperledger Iroha is used to create services for users, including mobile apps for managing digital assets, identity, and contracts.  Therefore, they are aiming to create a more safe and efficient society.

“Our service improves the reliability of crypto safekeeping and brings the ability to recover possession of digital financial assets like cryptocurrencies and tokens in the case of the loss of keys,” commented Ryu Okada, co-CEO of Soramitsu

Soramitsu is the first contributor of Hyperledger Iroha, a distributed ledger project.  Furthermore, Soramitsu is currently working with the National Bank of Cambodia and other major global financial institutions and is very interested in the Korean market.  In addition, they recently released a decentralized custody service with a Moscow stock exchange group.

D3ledger

D3ledger is a software provider for the D3 decentralized crypto assets depository.  It was co-founded by NSD (National Settlement Depository, the central securities depository of the Russian Federation) and Soramitsu.  Furthermore, they have started to provide safekeeping of digital assets and cryptocurrencies using its distributed depository platform.  In addition, D3Ledger addresses the need to make a safe and efficient environment for investors in the cypto asset class.

D3ledger provides a secure decentralized storage and settlements using Hyperledger Iroha blockchain platform built by Sormitsu and the open-source community.  Therefore, Hyperledger Iroha allows asset tokenization based on distributed ledger technology, providing trust and security.

Decentralization, the key feature of D3ledger offering, gives several benefits for crypto investors and financial intermediaries:

1. Sufficient level of regulatory transparency
2. Virtually no risk of infrastructure downtime
3. Easy re-landings of account to a new jurisdiction
4. Safe ownership through identification of each owner via the network of nodes. Ownership records are safe even the in case of default/bankruptcy of one of the partners
5. Easy governance of the network through the steering committee and voting procedure.

“D3ledger is set to become a key pillar for new digital markets ecosystem, enabling geo-distributed compliant custodial and settlement services, which is essential for large-scale institutional adoption”, said CEO and founder of Lykke Richard Olsen.