Clear, the developer of blockchain-based settlement and clearing networks, announced today it has completed a successful Proof of Concept (PoC) trial with Hyperledger Fabric, an enterprise distributed ledger framework hosted by the Linux Foundation for developing solutions with a modular architecture.
The deployment demonstrates how Clear’s software can connect users to any network, including Hyperledger Fabric networks, meaning enterprises are no longer forced to choose or switch DLT platforms in order to interact with other parties.
Until now, enterprises were forced to invest in processes and solutions that could only interact with a single Distributed Ledger Technology (DLT), as cross-platform interoperability hasn’t been possible, limiting the ability of enterprises to seamlessly interact, share information, and settle financial transactions.
This breakthrough means that Clear’s customers can now have a broader scope of choice when it comes to the ledgers they can interact with and be able to use the best-of-breed and stay up-to-date with future evolution.
“This PoC is a clear demonstration of how our abstraction layer works when running on Hyperledger. Our DLT-agnostic solution will make it significantly easier for our customers to run applications on any network – a real game-changer for the enterprise blockchain space. As an industry first, this new solution will provide our customers with more flexibility, allowing them to focus on what matters most by saving them time and money. Instead of using five systems, with Clear they are using just one.”
– Gal Hochberg, CEO, and Co-Founder of Clear
Clear, who was announced as a Hyperledger member in March 2020, has developed a powerful toolset to create blockchain-based settlement and clearing networks for global enterprises across a variety of industry verticals.
Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. Hyperledger hosts many blockchain technology projects including enterprise-grade, open source distributed ledger frameworks, libraries, and tools. Hyperledger’s expansive member network includes Walmart, Accenture, IBM, JP Morgan, and Consensys.
“Cross-platform interoperability is vital to enabling broad-based transactions in telecom and other complex industries. As champions of open technologies, Hyperledger welcomes this effort to connect disparate DLTs to enable wide-spread sharing and reconciliation of data and information. It’s great to see Hyperledger Fabric serve as a foundation for multi-blockchain environments.”
– Brian Behlendorf, Executive Director at Hyperledger
This is the latest in a string of high profile announcements for Clear, who announced a $13 million Series A investment in February and last month revealed that three of the world’s largest telecommunications companies, Deutsche Telekom, Telefónica, and Vodafone have successfully automated the reconciliation of roaming discount agreements using their solution.
“As a leading provider in the telecom industry, Clear operates in numerous networks and with multiple DLTs, and we are looking forward to expanding and supporting more ledgers and enterprises in achieving a seamless trade process. We want to break the DLT silo mindset, and it is important to us that our customers can enjoy all of Clear’s enterprise features irrespective of their DLT of choice. By facilitating this kind of collaboration, Clear and Hyperledger Fabric will open up a range of exciting new use cases.”
– Eran Haggiag, Co-Founder and Executive Chairman of Clear