Digital Asset Will Start Global Blockchain Network With Deloitte, Goldman Sachs and Others
:format(jpg)/www.coindesk.com/resizer/Bq34fFDLQLAxJq7jRzq--axWcvs=/arc-photo-coindesk/arc2-prod/public/BPHZ3N4FINGKHP4PJNCM265SOM.jpg)
Helene is a U.S. markets reporter at CoinDesk, covering the US economy, the Fed, and bitcoin. She is a recent graduate of New York University’s business and economic reporting program.
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.
Edited by Parikshit Mishra.
DISCLOSURE
Please note that our
privacy policy,
terms of use,
cookies,
and
do not sell my personal information
has been updated
.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
Digital Currency Group,
which invests in
cryptocurrencies
and blockchain
startups.
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
stock appreciation rights,
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG
.
Helene is a U.S. markets reporter at CoinDesk, covering the US economy, the Fed, and bitcoin. She is a recent graduate of New York University’s business and economic reporting program.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Helene is a U.S. markets reporter at CoinDesk, covering the US economy, the Fed, and bitcoin. She is a recent graduate of New York University’s business and economic reporting program.
