It can be challenging to resolve the "Peer binary and configuration files not found" error when installing Hyperledger Fabric v3.0 on an Ubuntu system. Incompatible dependencies, such as out-of-date GLIBC versions, which are essential for running Fabric's peer binaries, are frequently the cause of this frequent problem. The issue can be fixed by updating the operating system to a version that supports these dependencies, like Ubuntu 22.04.