Ribbit.me, a universal loyalty solution built on blockchain technology, announced today that it has joined the Linux Foundation's open source Hyperledger project.

The startup said that it will actively participate in the global discussion and contribute code and expertise throughout the development of a modular and standardized approach to distributed ledger technology.

"Ribbit.me is very excited to be part of such a prestigious and high-profile project as The Linux Foundation. It's like a dream come true to be able to contribute to the Hyperledger project and to work with the level of players within the Foundation. We have much to offer, and believe that we will make our mark in contributing to the furthering of blockchain technology utility," said Greg Simon, CEO and Co-Founder of Ribbit.me.

The Hyperledger project a collaborative effort to advance blockchain technology by identifying and addressing important features and currently missing requirements, for a cross-industry open standard for distributed ledgers that can transform the way business transactions are conducted globally.

The project was announced in December and the members involved in the initiative have grown to 30 and include: ABN AMRO, Accenture, ANZ Bank, Blockchain, BNY Mellon, Calastone, Cisco, CLS, CME Group, ConsenSys, Credits, The Depository Trust & Clearing Corporation (DTCC), Deutsche Börse Group, Digital Asset Holdings, Fujitsu Limited, Guardtime, Hitachi, IBM, Intel, IntellectEU, J.P. Morgan, NEC, NTT DATA, R3, Red Hat, State Street, SWIFT, Symbiont, VMware and Wells Fargo.