Hyperledger has taken a leadership role to develop cross-industry standards and provide a neutral space for software collaboration. The financial services industry, in particular, is witnessing an unprecedented level of collaboration between institutions that have traditionally been competitors. The advent of a new foundational or infrastructural technology like the blockchain - much like the Internet - requires collaboration of various actors in order to realize the full benefits of the technology. Unless all actors use a certain standard, the pace of technological dissemination will continue to be slow. Technological adoption is characterized by network effects, where the costs decrease with the increase in use of a certain technology. Since shifting to distributed ledger technology involves significant costs, open source software, communities and ecosystems that develop around these have a significant part to play.
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