Blockchain
Financial technology firm Digital Asset will launch a privacy-based interoperable blockchain network designed to provide a decentralized infrastructure for institutional clients, the company announced Tuesday.
Members of the network, called the Canton Network, include BNP Paribas (BNP), Deloitte, Cboe Global Markets (CBOE), Goldman Sachs (GS), Broadridge (BR), S&P Global and Microsoft (MSFT). others.
“The Canton Network is a powerful response to industry demand for a solution that harnesses the potential of blockchain while preserving fundamental privacy requirements for institutional finance,” said Chris Zuehlke, partner at DRW and global head of Cumberland, another participant. . “This unique approach, coupled with the ability to perform an atomic transaction across multiple smart contracts, is the building block needed to chain these workflows.”
The network connects applications built with Daml, Digital Asset’s smart contract language, enabling different systems across the financial markets to work together and synchronize.
“Such solutions are an important building block for future digital and distributed financial market infrastructures,” said Jens Hachmeister, Head of Issuer Services and New Digital Markets at Deutsche Börse Group.
While Digital Asset provides and owns the technology behind the infrastructure, the Daml smart contracts and the Canton protocol that powers the applications, it does not own the network itself as it is owned by its participants, including Digital Asset.