Linux Foundation's open source Hyperledger Project has announced the addition of seven new members to the collaborative cross-industry effort that aims to advance blockchain technology by identifying and addressing important features and currently missing requirements.

The new members have joined the project to help create an open standard for distributed ledgers for a new generation of transactional applications. By creating an enterprise grade, open source distributed ledger framework and code base, the Hyperledger Project is working to enable organizations to build and run robust, industry-specific applications, platforms and hardware systems to support their individual business transactions.

“The enterprise application of blockchain technology is set to change the way we conduct business and will have a profound impact across all sectors of business,” said Brian Behlendorf, Executive Director of Hyperledger Project. “To be able to welcome this many new members each month is not only a testament to what we are doing, but is paramount to our success in developing distributed ledger technology for the world.”

Belink Technologies, BitSE, INVeSHARE, MonetaGo, Moscow Exchange, Norbloc and Onchain are the new members. They join a rapidly growing and diverse group across finance, banking, Internet of Things, supply chains, manufacturing and other technologies.

“Blockchain technology is a game-changer for the world of finance and ultimately all industries; with secure distributed ledgers, real-time information will make markets safer, more efficient and reduce costs," said Jesse Chenard, CEO at MonetaGo. "Open source projects like Hyperledger Project have the capacity to make long-lasting benefits and innovations across industries. It is a bold vision and we are proud to join forces to standardize Blockchain technology."

The announcement follows the joining of eight new members in May, which included Beijing AiYi Digital Finance Technology Co. Ltd, Broadridge Financial Solutions, Cloudsoft Corporation Ltd., Coinplug, Cuscal Limited, Eurostep Holdings Ltd., Skry (Coinalytics) and Soramitsu.