Digital Asset Holdings Details Work on Hyperledger Blockchain Platform
Digital Asset Holdings has released new details about its long-secretive Hyperledger blockchain platform.
The information follows last month's announcement that the code was to be moved to, and developed in collaboration with, the Linux Foundation, and comes just days after Digital Asset raised more than $50m from a number of financial incumbents.
A number of major companies have already made commitments to what has been called the Linux Foundation's Open Ledger Project, including IBM, JP Morgan and Wells Fargo. At the time, Digital Asset was unique among them, however, as its contributions were to go beyond code in that it would provide the brand "Hyperledger", which it acquired in 2015, for use.
Less clear were the technical specifics of Digital Asset's specific approach to blockchain technology.
Founded in 2014, the startup has long categorized itself as a software provider that leverages "distributed infrastructure" to deliver "asset settlement" services to customers, terminology that didn't offer much insight into its motives beyond identifying its target market.
However, a statement released from Digital Asset last Friday, further details the technical side of the project, which it described as a "enterprise-ready blockchain server with a client API".
The release continued:
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Hyperledger employs an append-only log of financial transactions designed to be replicated at multiple organizations without centralized control
Digital Asset's writing suggests Hyperledger will be positioned as a "data backbone" that coordinates data across a client's services and a low-level "communication and consensus layer", one that will aim to "upgrade" the global financial infrastructure.
"The goal of Hyperledger is to allow expansion of the data backbone concept to the multi-organization level," it continued, adding:
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We are open sourcing this project with the belief that as a critical part of the new financial infrastructure, this part of the software stack should be commoditized, collaborative and serve as the robust backbone to value-added applications
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