Enterprise Blockchain Solution Corda Now Supports Smart Contract Language DAML July 28, 2020 July 28, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJuly 28, 2020 by Kelly Cromley

Enterprise Blockchain Solution Corda Now Supports Smart Contract Language DAML

DAML, a popular smart contract language intended for creating enterprise level blockchain apps, has been embedded on R3’s blockchain. The smart contract language was developed by the US based blockchain firm Digital Asset.

DAML, an acronym for Digital Asset Modeling Language, can now be used to create apps on Corda Enterprise, which is R3’s commercial blockchain platform.

In an effort to incorporate the cross-platform language to the Corda platform, Digital Asset collaborated with global tech company IntellectEU. Having its eyes set on budding technologies such as blockchain technology, IntellectEU implemented commercial integration, paving way for a unique smart contract language on Corda platform.

Creators of Corda were only able to develop apps utilizing Kotlin, a programming language developed by JetBrains specifically for Java virtual machine and Javascript.

To begin with, DAML on Corda will undergo trial and development, while real-world use is planned for 3Q20. Crucial implementation of enterprise level features is anticipated by the end of 2020.
Established by R3 four years back, Corda is a premiere blockchain platforms facilitating businesses to deal directly, without compromising on privacy, utilizing smart contracts.

The open source platform is being utilized by a large number of reputed companies and banks across the globe, including Nasdaq financial market, the Bank of Thailand, Japan’s SBI Holdings and Hong Kong Monetary Authority.

With the integration of DAML language in Corda, IntellectEU considerably improves platform’s operational compatibility with unrelated blockchain as the language is already incorporated in VMware Blockchain and Hyperledger Fabric.

Thomas Bohner, vice president at IntellectEU, states that DAML is the “easiest and most robust way to develop distributed applications.”

Bohner further stated:

“This new offering brings the power, flexibility, and time to market advantages of DAML to the widely-adopted Corda platform […]. Clients can move their DAML applications between platforms without recoding, eliminating vendor lock-in and de-risking complex programs.”

Earlier this month, Digital Asset stated that software firm VMware has joined hands in the company’s Series C funding event, which was disclosed in the final leg of 2019. In February, venture division of electronics giant Samsung and CRM (customer resource management) giant Salesforce ploughed money in Digital Asset by participating in the second Series C financing event.

Last December, notably, Digital Asset raised $150 million by conducting money raising events.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.