DAML, an important intelligent contract language for creating blockchain applications at company level, has been integrated into the R3 blockchain.
Developed by the American blockchain startup Digital Asset, DAML or Digital Asset Modeling Language. It is now available on R3’s commercial blockchain platform, Corda Enterprise.
A cross-platform alternative to Corda’s mother tongue
To bring the multiplatform language to the Corda platform, Digital Asset, a partnership with international technology company IntellectEU, announced this on July 27.
When it was introduced DAML on Corda will initially be available for testing and development, while production deployment is planned for the third quarter of 2020. Critical implementations for business functions are expected later this year, said IntellectEU.
Corda is an important blockchain platform for companies
Introduced by R3 in 2016, Corda is one of the world’s most popular blockchain platforms that enables smart contracts to conduct transactions directly and under strict data protection regulations. The open source platform is used by a large number of well-known companies and banks around the world, including the Nasdaq Stock Exchange, Japanese SBI Holdings, the Bank of Thailand, the Hong Kong Monetary Authority and others.
With the introduction of the DAML language in Corda, IntellectEU significantly extends the interoperability of the platform with other blockchains, as the language is already integrated in Hyperledger Fabric and VMware Blockchain. Thomas Bohner, Vice President of IntellectEU, says DAML is the “Easier and more robust way to develop distributed applications”. Bohner continued:
“This new offering brings the power, flexibility, and time-to-market benefits of DAML to Corda’s widespread platform […]. Customers can move their DAML applications across platforms without re-coding them. This eliminates vendor blocking and the risk of complex programs. “
In mid-July, Digital Asset announced that software company VMware was participating in the company’s Series C financing round, which was announced in late 2019. In February 2020, the venture capital arms of technology giant Samsung and CRM Salesforce invested in a second round of financing from Series C of Digital Asset. As announced in December 2019, the round of financing raised the total amount of Digital Asset to $ 150 million.