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Cryptocurrencies

Hitachi and blockchain startup Soramitsu work on "Iroha" Project

Wednesday 2 November 2016 | 10:29 AM CET

Hitachi, Soramitsu, a blockchain startup, and several Japanese companies have been working on a blockchain project called "Iroha".

The project has been accepted into the Hyperledger blockchain initiative and was first unveiled during a meeting of the project’s Technical Steering Committee in October 2016. Iroha is being pitched as both a supplement to other Hyperledger-tied infrastructure projects like IBM’s Fabric (on which it is based) and Intel’s Sawtooth Lake.

Furthermore, Soramitsu is positioning Iroha as a means to encourage the development of mobile applications within the Hyperledger community. The project was developed in partnership not only with fellow Hyperledger members like Hitachu and NTT Data, but with other blockchain startups like Colu as well. The Soramitsu team is also working with the University of Aizu, Sompo Holdings and Rakuten Securities. The startup is also pursuing other research initiatives as well, using Iroha as a basis.

Since launching in December 2016, Hyperledger has seen a range of projects submitted by contributors, including a distributed ledger platform named Juno, from JPMorgan. Intel, which contributed Sawooth Lake, previously demonstrated a fantasy sports trading game built using the technology.

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