Tuesday, 14 July 2020

WeBank extends FISCO BCOS capabilities with DAML smart contracts

WeBank announced that it will explore the integration of Digital Asset Modelling Language (DAML), the open source smart contract language created by Digital Asset, with the blockchain platform FISCO BCOS. The integration provides additional smart contract resources for the developers of the platform.

FISCO BCOS is an open consortium blockchain platform built by the Financial Blockchain Shenzhen Consortium (FISCO) open source working group, which includes WeBank together with Beyondsoft, Digital China, Forms Syntron, Huawei, Shenzhen Securities Communications, Tencent, YIBI Technology and Yuexiu Financial Holdings. The platform is built specifically to meet the regulatory requirements and service demands of the financial services industry.

“Blockchain is a significant opportunity for innovators,” WeBank’s executive vice president and chief information officer Henry Ma said. “Working with an international market leader like Digital Asset by integrating DAML smart contracts with FISCO BCOS is a key milestone for us to deliver next-generation blockchain solutions across finance, supply chain and other sectors in China and beyond.”

Founded in 2014, Digital Asset is dedicated to building a cross enterprise asset, transaction and workflow processing environment for enterprise customers. The startup provides commercial integrations of DAML with partner platforms so that a variety of organisations, from the largest enterprises to technology startups, can develop secure, sophisticated, compliant and operationally solid applications faster and deploy them to any ledger.

“We are thrilled that an organisation of WeBank’s immense scale and reach has made DAML their smart contract language of choice,” Digital Asset’s co-founder and chief executive officer Yuval Rooz said. “As a driving force behind the FISCO BCOS community, WeBank has emerged as a leader paving the way for the next generation of distributed customer applications across China and beyond. They are a great addition to the growing number of financial institutions and other corporates using DAML in Asia.”

The FISCO BCOS community now spans over 10,000 individual developers and 500+ corporates members globally. Rather than a single blockchain, the consortium chain is a set of blockchain applications to serve the general public. The protocol is coinless, permissioned and supports zero-knowledge proofs, allowing users to reveal information without sharing private data.

Re-disseminated by The Asian Banker

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