Some of the giant companies in finance and tech industries Microsoft, Deloitte, Goldman Sachs and some others are partnering together and working on a new project to introduce a new Blockchain Network.
Collaborative work could be a vital role to ledger technology in the financial sector. Moreover the collective work is to link “disparate institution applications”which could bring positive points on the industry.
Companies to develop a New Blockchain Network
Host of technology and finance top firms including Goldman Sachs, Microsoft are together announced development a new Blockchain Network, they are set to launch the Anton Network. This announcement could be the seminal in the world wide web3.
July is the testing phase for the Canton Network reported by bloomberg. The system is developing with the features “better privacy and controls” which will be advanced than currently available. Also a feature including the scale which will fit for “financial institutions”.
Among the two top companies are host of others backing the development project. Specifically Digital asset, Cumberland, Deutsche borshe group, Broadridge, Asx, Bnp Paribas, Moody’s, paxos, and SBI digital asset all likely contributing the benifits of Blockchain Technology.
In addition, Blockchain apps created using Daml will bring together by the Network. The language smart contract was developed by Digital asset. Conversely, the collaboration is the byproduct of Blockchain testing and development with these years but these companies. The firm’s are sought ways to “simplify and speed to some complex process” with the developing network alternatively.
In a report that Canton Network can connect to the first of application be through Daml. This will be utilised on Goldman’s asset and is used in Blockchain Network as an asset. Moreover the network is expecting to watch it’s growth with more applications which will be using the specifics coding language.