The Current State of the Blockchain Space
A lack of interoperability and ease of communication between blockchain applications has impeded the next wave of change in financial sector productivity.
Disparate solutions from a variety of blockchain technologies have emerged, but enterprises typically struggle with the most essential piece of the puzzle: making these solutions work and communicate with one another.
The financial services industry is an area where these innovations have some of the most significant near-term potential. However, the industry is also constrained by high standards of privacy, security, and efficiency, adding to an already sizable challenge.
What does Digital Asset’s Canton Network represent for the industry?
The Canton Network represents a new approach to DLT underpinned by the Daml smart contract language. It balances the decentralization of a network with the requisite privacy and controls for the financial sector. Canton's technology enables traditionally siloed systems to become interoperable and synchronized. This offers a safer, reconciliation-free environment for the synchronization of assets and data across applications, allowing businesses to innovate and offer value without compromising risk management.
Canton Network supports the creation of private networks within the public network. This allows organizations to create their own private ledgers that can synchronize with other ledgers (both public and private) via the Canton protocol. This provides significant value for use cases that require a combination of public transparency and private confidentiality.
The Canton Network addresses key blockchain challenges:
● Canton is designed to be horizontally scalable. It can handle a large number of transactions and participants, making it suitable for large-scale, global applications
● It ensures privacy and control over data for regulated participants on the same network
● Canton enables both control and interoperability without compromising application ownership
● It also offers privacy features that can enhance the security of blockchain applications by ensuring that sensitive data is only shared with necessary parties
IntellectEU are experts in Canton and Daml implementations. Our teams have designed, built, and scaled a variety of enterprise solutions leveraging this technology stack, including:
IntellectEU designed and is developing a tokenization platform using Digital Asset’s Canton Network and Daml smart contracts. The team is leveraging the Daml finance library to streamline the onboarding, custody, structuring, issuance, transfer, trading, clearing, and settlement workflows.
Daml-based Repo Platform
IntellectEU assisted in the development of a distributed repo platform for the global capital markets using Daml. The platform creates a single view for all participants throughout the lifecycle of the trade and allows for reductions in transactional risk as well as operational and cost efficiencies. This improves the way participants track the status of their repos, while also enforcing deadlines and possible penalties in cases of non-compliance.
Crypto Trade Settlement Solution
IntellectEU is closely collaborating with a large North American exchange on using smart contracts to automate the settlement of crypto trades. Participants developed a proof-of-concept using Daml smart contracts that streamlined the onboarding, clearing, netting, and settlement processes.
How IntellectEU Serves Enterprise Clients
IntellectEU offers end-to-end solution development services for Canton and Daml. Our specialists possess a unique combination of technical expertise with deep capital markets knowledge and experience to deliver bespoke solutions for enterprise clients.
We have continued to innovate with our in-house software product and have added Canton to the list of blockchain protocols supported by our world-leading DLT management tool, Catalyst Blockchain Manager.
Catalyst Blockchain Manager is the ultimate tool for streamlining the deployment, maintenance, and management of Canton Network-based solutions. Catalyst is an end-to-end operating system for blockchain solutions enabling enterprises to focus on delivering value with DLT. It provides a cutting-edge abstraction layer and unrivaled automation and tooling to maximize the efficiency of project teams.
IntellectEU can help you deliver market-leading Canton solutions:
● Leverage Canton technology to create tokenization use cases representing real-world or digital assets in a solution
● Eradicate manual steps in the clearing and settlement process, using smart contract automation to create massive gains in efficiency
● Develop decentralized borrowing and lending platforms with smart contracts that ensure loan repayments are made automatically and transparently