American Express “Looking to Take Full Advantage of Blockchain”

Another strong backer from the established financial order has revealed its commitment to adopting blockchain technology. Credit card giant American Express (NYSE:AXP) has joined the Hyperledger Project – a collaboration of more than 100 institutions creating an enterprise grade, open source blockchain framework and code base.

American Express’ Sastry Durvasula, Senior Vice President of Technology, responsible for leading enterprise-wide big data, blockchain, digital payments and partnerships, will represent the company on the Hyperledger Governing Board.

“It’s always encouraging to see large, global organizations like American Express join Hyperledger,” said Brian Behlendorf, Executive Director, Hyperledger. “As the project continues to grow and take shape, I believe support from leading organizations and their expertise will drive successful pilots of Hyperledger blockchain technology into production later this year. The aim is to then begin to repeatedly build new systems for this emerging industry and its various use cases and applications.”

“We’re excited to join Hyperledger, as we’re looking to take full advantage of blockchain to deliver new and innovative products for our customers and partners, while transforming existing business processes and applications,” said Marc Gordon, Executive Vice President and Chief Information Officer, American Express. “As a Premier member of the project, we’re expecting our expertise and global reach to help advance this open source blockchain ecosystem.”

(Photo: Wikimedia Commons)

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