{"id":34244,"date":"2023-05-12T14:00:52","date_gmt":"2023-05-12T14:00:52","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/05\/12\/fintech-consortium-to-launch-interoperable-blockchain-network-for-financial-market\/"},"modified":"2023-05-12T14:00:52","modified_gmt":"2023-05-12T14:00:52","slug":"fintech-consortium-to-launch-interoperable-blockchain-network-for-financial-market","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/05\/12\/fintech-consortium-to-launch-interoperable-blockchain-network-for-financial-market\/","title":{"rendered":"Fintech Consortium To Launch Interoperable Blockchain Network For Financial Market"},"content":{"rendered":"
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A consortium of companies in the financial and technology<\/span> sectors are set to launch a first-of-its-kind privacy-enabled interoperable blockchain network that will be a ‘network of networks’ which allows previously siloed systems in financial markets<\/span> to interoperate with the appropriate governance, privacy, permissioning and controls.<\/p>\n

Powered by Digital Asset, the Canton Network is an open blockchain network with the privacy and controls required for highly-regulated industries. The network is designed for institutional assets and built to responsibly unlock the potential of synchronized financial markets.<\/p>\n

Canton Network participants include ASX, BNP Paribas, Broadridge, Capgemini, Cboe Global Markets, Deloitte, Deutsche B\u00f6rse Group, Digital Asset, The Digital Dollar Project, Goldman Sachs, EquiLend, IntellectEU, Umbrage, Microsoft, Moody’s, Paxos, S&P Global and SBI Digital Asset Holdings.<\/p>\n

The Canton Network will provide a decentralized infrastructure that connects independent applications built with Daml, Digital Asset’s smart-contract language. It will enable financial institutions to experience a safer and reconciliation-free environment where assets, data, and cash can synchronize freely across applications.<\/p>\n

The network will create opportunities for financial institutions to offer new innovative products to their clients while enhancing their efficiency and risk management.<\/p>\n

Using the Canton Network, a digital bond and a digital payment can be composed across two separate applications into a single atomic transaction, guaranteeing simultaneous exchange without operational risk.<\/p>\n

A digital asset can also be used in a collateralized financial transaction via connection to a repo or leveraged loan application.<\/p>\n

The Canton Network removes the current bottlenecks of the smart contract blockchain networks by uniquely balancing the decentralization of a network with privacy and control essential to operating within a safe and sound regulatory environment.<\/p>\n

Only the Canton Network enables participants to safeguard permissions, exposure, and interactions across the network, to comply with security, regulatory and legal requirements.<\/p>\n

The network can connect innovative blockchain solutions in market today, such as Deutsche B\u00f6rse Group’s D7 post-trade platform and Goldman Sachs’ GS DAP, while retaining privacy and permissioning. As more Daml-built applications go into production this year and beyond, the number of connections on the Canton Network will grow exponentially.<\/p>\n

The participants of the Canton Network will begin testing interoperability capabilities across a range of applications and use cases in July. <\/p>\n<\/p>\n<\/div>\n