Daml 2.0 is a significant industry milestone that removes key barriers to distributed ledger technology adoption with groundbreaking capabilities for privacy and cross-domain interoperability
Digital Asset, a software and services provider that helps enterprises build economic value through interconnected networks, announced the general availability of Daml 2.0, the newest version of Digital Asset’s multi-party application platform. This version makes it easier than ever to build and deploy best-in-class, multi-party applications. Daml 2.0 includes Canton, a privacy-enabled distributed ledger that is enhanced when deployed with complementary blockchains. Canton ensures strong privacy and compliance — unique among multi-party systems — while synchronizing transactions across any supported blockchain or database. For example, a Daml asset can now be safely delivered on Hyperledger Besu while the payment can be made using a different Daml asset on Hyperledger Fabric, in a single, atomic transaction.
“Lack of privacy and sovereignty is driving enterprise blockchain users into walled-garden installs”
Today, businesses are increasingly using multi-party applications to drive efficiency and innovation by automating processes and delivering new products and services. However, the lack of reliable privacy protecting platforms means that multi-party applications too often languish in the proof-of-concept phase or fall behind a walled garden — a siloed blockchain implementation with limited reach. Additional challenges exist when connecting these applications that run on different blockchains or databases, requiring complex workarounds that introduce risk and issues with data consistency and privacy. Consequently, businesses have been unable to realize the full potential of blockchain, distributed ledger technologies, and the multi-party applications that can create novel products and experiences.
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“Lack of privacy and sovereignty is driving enterprise blockchain users into walled-garden installs,” said Craig Blitz, Chief Product Officer at Digital Asset. “While walled-garden ecosystems provide some value, they miss the true-tail ROI on a blockchain. Daml with Canton makes DLT feasible for our customers by preserving privacy while allowing market participants to safely exchange assets and share authorized data between multiple business parties across different platforms. None of the existing blockchains have architecture that can handle keeping sensitive information private with the scalability necessary to connect the world’s assets.”
Daml is the underlying technology behind Digital Asset’s vision for the Global Economic Network, an emerging ecosystem of interconnected global networks. Working with customers, partners, and the open-source community, Digital Asset is building and connecting the core services that will bring the world’s assets together — not only within organizations, but also across competitors and other players in the broader market. Daml is the first system to fulfill the key requirements of a network-of-networks for the global economy.
Currently, customers are using Daml to tokenize assets, build new platforms, and create new products and services for the Global Economic Network. Goldman Sachs is using Daml to develop its end-to-end tokenized asset infrastructure supporting the entire digital life cycle across multiple asset classes on permissioned and public blockchains. Deutsche Börse is using Daml for its D7 platform to create and process Digital Instruments, the digital description of electronic securities, to manage the securities alongside the entire value chain.
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Mathew McDermott, Managing Director, Global Head of Digital Assets at Goldman Sachs said, “Daml 2.0 affords us the opportunity to unlock new users, assets, and markets in a growing global ecosystem of interconnected networks. We are looking forward to being able to open our network to potentially interconnect with other networks creating a more open and seamless global marketplace.”
Jens Hachmeister, Managing Director, Issuer Services & New Digital Markets, Deutsche Börse, added, “Common standards and interoperability are key to the development of future digital markets. Digital Asset’s Daml 2.0 is a great match for our digital post-trade platform D7 to seamlessly connect different networks of the industry – no matter if they are central or distributed. We look forward to exploring the future opportunities to truly digitize financial products end-to-end.”
Daml 2.0 with Canton is available as open source, and developers can choose to run Daml Open Source or Daml Enterprise for additional features and support. Daml 2.0 applications are compatible with Daml Hub, a managed cloud service for Daml apps and the easiest way to deploy to and interact with apps in Canton, and with the following blockchain and database platforms: Corda, Hyperledger Besu, Hyperledger Fabric, Oracle Database, PostgreSQL and VMware Blockchain.
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