Hyperledger blockchain consortium is losing some of its members, a new report from Reuters has revealed.
According to the documents seen by the media giant, over 15 members have either cut their financial backing or have quit the consortium altogether over the past couple of months.
Premier members CME Group and Deutsche Boerse will downgrade to general membership, starting January 2018. R3 is also downgrading its premier membership next year.
Downgrading from premier to general membership is directly tied to the project’s funding as the former pay a fee of $250,000 a year, as compared to $5,000 to $50,000 fee range for the general members.
“We have seen some members who were part of the initial December 2015 cohort shift their spending priorities but remain members of the organization,” Hyperledger executive director Brian Behlendorf said. “We have seen others who never really engaged decide not to renew. This is normal and expected.”
Earlier this year, a number of big banks quit another such initiative led by R3, including JP Morgan Chase & Co.,Goldman Sachs Group Inc, Banco Santander, and others.
Reuters said that the dwindling support for Hyperledger blockchain consortium underscores “how large firms have become more selective with their blockchain efforts as the technology matures.” At the end of January 2018, Hyperledger’s premier members would stand at 18, compared to 21 at present.
