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FinTech Firm Digital Asset Collaborates With VMware To Integrate Digital Asset Modelling Language

BFSI News

FinTech-Firm_Digital-Asset-Collaborates-With-VMware-To-Integrate-Digital-Asset-Modelling-Language FinTech Firm Digital Asset Collaborates With VMware To Integrate Digital Asset Modelling LanguageDigital Asset, a financial technology firm that develops products based on Distributed Ledger Technology (DLT) for regulated financial institutions, has established a partnership with a publicly traded software virtualization company VMware. With this collaboration, Digital Asset will reportedly integrate its Digital Asset Modelling Language (DAML) on VMware’s Blockchain platform. Additionally, the partnership will ostensibly enable for broader reach and support as a combined offering. On this move, VMware Senior Director of Blockchain Michael DiPetrillo says that DAML has been proven to be one of the few smart contract languages capable of modeling truly complex workflows at scale.

Founded in the year 1998 and well known for its hypervisors which is hardware, software or firmware that operates virtual machines,  VMware last year generated nearly USD9 billion. The company provides desktop software, cloud management software and server software, as well as other products. Besides this partnership, FinTech firm Digital Asset, a day before, also collaborated with the International Swaps and Derivatives Association to build a new tool which can support the use of smart contracts for derivatives trading. The New York-based company reported that its DAML programming language will enable for greater automation of derivatives trade management via the use of DAML.

Earlier this month, Digital Asset has open sourced Digital Asset Modelling Language, which was generated in the year 2016 and is reportedly optimized for use in private executions. According to the reports, the source code for the DAML language is freely available under the Apache 2.0 open source from 4th April. Digital Asset builds products based on DLT (distributed ledger technology) for regulated financial institutions, including financial market infrastructure providers, CSDs, CCPs, exchanges, banks, custodians and their market participants.