Digital Asset News

DAML: the contract language of distributed ledgers

Posted by Digital Asset on Nov 6, 2019 3:19:10 PM

In the September issue of Communications of the ACM, Camille Fournier, the head of platform development for a leading New York City hedge fund, sits down with Shaul Kfir, CTO and co-founder of Digital Asset, to discuss distributed-ledger technology  (DLT) and DAML, the open source smart contract language developed by Digital Asset. 

In the interview, "DAML: The Contract Language of Distributed Ledgers," Camille and Shaul discuss the value that distributed ledgers and DAML can provide to financial services firms and the market at large. They also cover how DAML has evolved since it was first introduced in 2016, the difference between blockchain and DLT platforms and the challenges of applying DLT to certain use cases. 

Should we find ourselves in a world where every large enterprise is
part of one of these distributed networks that does mutualize infrastructure, then people would be able to iterate very quickly on these sorts of ideas. Basically, they would be able to propose new products and deploy them as smart contracts.  
- Shaul Kfir, co-founder and CTO of Digital Asset in DAML: The Contract Language of Distributed Ledgers

Read full article here >

Topics: Smart Contracts, DAML, DLT, ACM, Shaul Kfir, blockchain

Broadridge: Distributed Repo

Posted by Digital Asset on Jul 17, 2019 3:03:17 PM

 

Broadridge Financial Solutions writes about why the repo market presents an ideal use case for distributed ledger technology and why they're using DAML to build an innovative  bilateral repo platform.

Distributed Repo

Imagine a world where all participants on a repo transaction share a single view throughout the lifecycle of the trade. Where having a single source of record on a platform that defined the rules of the market meant that fails and disputes were nearly eradicated. Where true simultaneous settlement decreased the capital requirements needed to trade. Imagine that this platform was built by a neutral and trusted market solutions provider.

Given Broadridge’s existing reach and network, we identified the repo market as an optimal use case for DLT.  Feedback on our approach from existing market participants and potential new players further validated the market benefits of this platform.

After testing the feasibility of various technology providers and DLT platforms for our repo solution, we’ve emerged with our partnership with Digital Asset.

Our collaboration is built on a shared vision to transform the way repo trades are captured, processed, cleared, and settled globally.

Using DAML, Digital Asset’s open-source smart contract language, specifically designed to model and execute multi-party workflows, we have been able to rapidly build upon this vision.

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Topics: Repo, Smart Contracts, DAML, DLT

Risk.net: Functional programming reaches for stardom in finance

Posted by Digital Asset on Apr 3, 2019 3:46:39 PM

Would you like your software to be more reliable, harder to hack and cheaper to run? Then, if you aren’t already in on the act, it may be time to embrace functional programming – a maths-based approach that is challenging the status quo at financial firms.

Proponents of functional languages say they are better at handling certain financial operations than the dominant, so-called imperative languages. They will become even more relevant, these fans argue, with greater adoption of the distributed ledger technology (DLT) in finance, spurred in part by the International Swaps and Derivatives Association’s common domain model (CDM).

“Functional programming has been gaining popularity in banking for the past decade, but the pace is accelerating,” says Neil Mitchell, who has worked with functional languages at Credit Suisse, Standard Chartered and Barclays.

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Topics: DAML, DLT, Distributed Ledger

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