Today Digital Asset, known for its DAML smart contract language, unveiled plans for the Canton Network, a network of blockchain networks enabling interoperability for financial institutions. Thirty organizations will participate in the network starting in July, including major Digital Asset clients such as BNP Paribas, Deutsche Börse Group, Goldman Sachs and Equilend.
While there’s a belief that the future of institutional finance revolves around blockchain and tokenization, to date, many of the efforts create new siloed blockchains. And a key benefit of a distributed ledger was precisely to address silos. Interoperability is the answer to unlocking the tantalizing potential of composability and collateral mobility.
Public blockchains have shown the way, particularly on these two points, although Digital Asset has no plans to integrate with them. “They’ve created absolutely the North Star of what’s possible,” said Digital Asset’s Eric Saraniecki.
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