Digital Asset Partners with VMware for Smart Contracts Integration
Digital Asset, a fintech firm that created the DAML smart contracts language who also claims to deliver flexible infrastructure that enables regulated financial institutions to share processes and data securely, has joined forces with VMWare Blockchain to enable the latter to integrate the former’s DAML smart contracts into its platform, according to a press release on April 11, 2019.
Digital Asset Join Forces with VMware
As stated in its press release, Digital Asset, a New York-based financial technology company has inked a strategic partnership deal with VMware Blockchain, a platform that focuses on building cloud infrastructure and digital workspaces, to make it possible for the latter to integrate the DAML smart contracts programming language into its enterprise-grade blockchain platform.
For those who are unaware, DAML is an open-source smart contract programming language developed for use in multi-party business processes.
With the new alliance, the teams firmly believe that the combined offering will promote adoption and offer users more value.
Commenting on the partnership, Michael DiPetrillo, Senior Director of Blockchain at VMware, noted that DAML has proven over time that it can handle massive transactions seamlessly, as such the integration of the smart contracts programming language into VMWare will give users a whole new experience.
In his words:
“DAML has been proven it is one of the few smart contract languages that can model truly complex workflows without scalability drawbacks. VMware is delighted to be working together on customer deployments to merge VMware with DAML. Users demand a choice of language execution environments from their blockchain solutions and DAML provides them with a robust and enterprise-focused language set to a blockchain platform with multi-language support.”
A Formidable Alliance
Established in 1998 by Diane Greene, Mendel Rosenblum, Ellen Wang, Edouard Bugnion, and Scott Devine, VMware is listed on the NASDAQ stock exchange.
In 2018, VMware reportedly generated almost $9 billion in revenue. The firm specializes in the provision of cloud computing services as well as other solutions. It currently has a vast array of products including vCloud Director, a solution that makes it easy for cloud providers to provide efficient, secure and elastic cloud resources to IT team across the globe.
On April 9, 2019, Digital Asset announced its partnership with the International Swaps and Derivatives Association (ISDA) to create a DAML powered solution for derivatives trading.