Red Hat, provider of open source solutions launches OpenShift and would manage container application deployment with OpenShift support for those financial institutions which are interested in experimenting with blockchain.

In April this year, Red hat announced this initiative and said that it is free to join and aims to meet the needs of fintech startups and financial services independent solutions vendors who are developing blockchain applications and technologies.

The company said in a statement, “We are pleased to partner with Red Hat and have initially deployed BlockApps STRATO, our Ethereum Blockchain infrastructure on OpenShift.” The company added, “This platform supports the development of smart contract solutions and can allow developers to build and deploy their blockchain applications very quickly. The collaboration was a logical direction and BlockApps is incredibly excited to work with Red Hat as the first blockchain provider on the OpenShift platform.”

Ethereum has been a considerable part in Red Hat’s plans and is a decentralized platform that runs smart contracts. These contracts without the possibility of downtime, censorship, fraud or third party interference are designed to run as programmed.

Global Director of financial services at Red Hat Rich Feldmann said to CCN , “This technology is key component of many of the blockchain solutions we evaluated by the financial services industry.” OpenShift Dedicated through its container application platform technology will enable blockchain solutions. “We believe the open source model is the best way to develop enterprise software as it gives a broader set of developers the opportunity share and collaborate on ideas,” Feldmann added.

In recent times, many traditionally proprietary technology software companies are contributing to open source projects thus providing further evidence of the trend heading to open source development for blockchain.