Today Digital Asset announced the results of a pilot with 45 institutions who simulated the use of 22 different DLT applications on the Canton Network. The network launched last July and aims to provide DLT interoperability to address the silos being created by numerous institutional permissioned blockchains.
With public blockchains and the first enterprise blockchains, the idea was to have extensive networks where industry participants could share data, trade and settle transactions. Instead, today there are a large number of permissioned blockchain networks, pretty much one for every application. Given there are so many of them operating as islands, only a few have gained traction.
Individually connecting networks through bridges or other means is relatively costly. Plus, it risks recreating many of the maintenance issues that exist in the current infrastructure.
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