Digital Asset Reveals Smart Contracts Alternative for Financial Industry
In an announcement today, New York-based blockchain startup Digital Asset Holdings (DAH) revealed its acquisition of Swiss technology firm Elevence Digital Finance AG. With the acquisition, DAH has announced the Digital Asset Modelling language, an alternative to Smart Contracts that is specifically designed for financial services. Digital Asset has revealed its acquisition Zurich-based Elevence, a technology firm behind the development of an ‘expressive language’ that enables financial institutions to “model and execute with certainty and finality.” Digital Asset saw Elevence’s technology....
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Digital Asset Holdings announced its recent acquisition of the technology firm Elevence, a company which has created a language that executes a different kind of contract protocol. The Elevence team is made up of computer scientists and financial experts whose technology “compliments” Digital Asset’s existing software. Digital Asset Holdings’....
The Chamber of Digital Commerce, a trade association dedicated to promoting the understanding, acceptance and use of digital assets and blockchain technology, has announced the launch of the Smart Contracts Alliance (SCA), an industry initiative to promote the real-world application of smart contracts, educate and enhance the understanding and adoption of smart contracts, provide a forum to develop industry standards and help shape a pro-growth policy framework. “This initiative will be key in bridging the gap between concept and reality, and making smart contracts accessible across the....
With contributions from Zerado, FinTech Network have produced a whitepaper that looks at smart contracts and how they could improve efficiencies within the banking sector. The whitepaper highlights: How smart contracts aim to provide security that is superior to traditional contract law and ways they can reduce other transactional and administrative costs. The workings of Ethereum as one of the best examples of smart contracts in practice. Ways that smart contracts could benefit areas such as mortgages, clearing and settlement, KYC & bonds. How challenges with conceptual misalignment,....
Hackers are soon going to be the new lawyers as the adoption of smart contracts increase in the near future. The advent of Blockchain 2.0 and Blockchain 3.0 has given rise to new ways of automation using Bitcoin’s underlying technology. There are special cryptocurrency platforms like Ethereum, Rootstock, Counterparty, Lisk and more that allows people to create smart contracts on the blockchain. These smart contracts enable automation by allowing developers to set trigger conditions. These trigger conditions are certain prerequisites, when met, will execute the function programmed on the....
As the study of 'smart contracts' went from strange academic curiosity to the cutting-edge of FinTech, most market observers are still wondering just how this revolution in value transfer works. Smart contracts, for those who still don't know, are small bits of code attached to an asset, which determines where and how the underlying asset will perform based on events in the network. The promise of financial instruments that are routed through the economy autonomously, and without need for intervention by a custodian, is immense. But exactly how does such a technology work? And what makes a....