Digital Asset unveils Canton blockchain network with BNP, Deloitte…

Digital Asset presented a network aimed at providing institutions the “ Benefits of public blockchains without the flaws “. Several giants including BNP Paribas, Deloitte or again Goldman Sachs are already exploiting the Canton Network.

This Tuesday, the New York-based company Digital Asset announced the arrival of a new blockchain network specially designed for financial market participants.

Called Canton Network, the network allows connect applications independent applications built with Damlthe intelligent contract language developed by Digital Asset.

The privacy-friendly Canton Network enables previously siloed financial systems to be interoperable and synchronized in ways that were previously impossible, unlocking new efficiencies and innovations,” reads a statement

To that end, Canton Network sets up “ networks of networks “, allowing siloed systems in the financial markets to interact securely. “The Canton network provides financial institutions with a more secure environment where assets, data and cash can synchronize freely between applications,” the announcement said.

The participants The network’s participants already include major firms such as BNP Paribas, Capgemini, Cboe Global Markets, Cumberland, Deloitte, Deutsche Börse, Goldman Sachs, Liberty City Ventures, Microsoft, Paxos and SBI Digital Asset.

“The teams Deloitte are committed to providing their extensive experience in deploying interconnected applications across the Canton network. We are proud to support Digital Asset serving institutions that are reinventing the industry through asset tokenization, facilitating rapid inter-organizational settlement, creating new markets, establishing an immutable record of shared data, and facilitating secure transactions across the Canton network,” commented Joseph Cody, principal at Deloitte.

With Canton, Digital Asset thus wants to ” capture the benefits of public blockchains without the flaws “. The company claims to remove the barriers while “uniquely” balancing the decentralization of the network and providing the privacy and control necessary to operate in a secure regulatory environment.

Canton Network enables blockchain solutions such as the D7 post-trade platform from German Deutsche Börse and the GS DAP of the American investment bank Goldman Sachs.

Canton Network’s vision strives to enable seamless connectivity between different blockchain networks in the industry. These solutions are a key element for the future digital and distributed infrastructure of the financial markets,” said Jens Hachmeister, managing director at Deutsche Börse.

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