Other participants of the network include BNP Paribas, Cboe Global Markets and Microsoft.
Financial technology company Digital Asset will start a privacy-enabled interoperable blockchain network designed to provide a decentralized infrastructure for institutional clients, the firm announced on Tuesday.
Participants of the network, which is called the Canton Network, include BNP Paribas (BNP), Deloitte, Cboe Global Markets (CBOE), Goldman Sachs (GS), Broadridge (BR), S&P Global, and Microsoft (MSFT), among many others.
“The Canton Network is a powerful answer to industry calls for a solution that harnesses the potential of blockchain while preserving fundamental privacy requirements for institutional finance,” Chris Zuehlke, partner at DRW and global head of Cumberland, another participant, said. “This unique approach, coupled with the ability to execute an atomic transaction across multiple smart contracts, is the building block needed to bring these workflows on chain.”
The network connects applications built with Daml, Digital Asset’s smart-contract language, allowing various systems in financial markets to interoperate and synchronize.
“Such solutions are a key building block for future digital and distributed financial market infrastructures,” Jens Hachmeister, head of Issuer services and new digital markets at Deutsche Börse Group said.
While Digital Asset provides and owns the technology behind the infrastructure, the Daml smart contracts and the Canton protocol which enables the applications, it does not own the network itself as it is owned by its participants, which include Digital Asset.
Disclaimer: CryptoNewsBook is an online aggregator that fetches latest crypto news from different sources. This article is provided for general information purposes ONLY and contains data fetched from third party sources; hence, we do not endorse its accuracy. For more details, kindly visit The Source. Please report any fake news or false statement to Our Support Team. If you are the original owner of this content and wish it to be removed on this platform, kindly forward your request to Our Support Team.
Also Note: Cryptocurrencies are unregulated, and no part of this article should be understood nor interpreted as a recommendation/advice. #s5