Goldman Sachs, Microsoft and Other Giants Join Forces to Launch New Blockchain Called Canton Network

Digital Asset, a financial technology firm, announced it will launch a privacy-enabled interoperable blockchain called Canton Network, which is designed for institutional assets and built to responsibly unlock the potential of synchronized financial markets. Multiple industry giants in the finance and tech space will join the network, including Goldman Sachs, Microsoft, Deloitte, BNP Paribas, Paxos and others.

Canton Network will provide a decentralized infrastructure that connects independent applications built with Daml, Digital Asset's smart-contract language. It "enables financial institutions to experience a safer and reconciliation-free environment where assets, data, and cash can synchronize freely across applications. This creates opportunities for financial institutions to offer new innovative products to their clients while enhancing their efficiency and risk management", according to the press release.

Canton Network participants will begin testing interoperability capabilities across a range of applications and use cases in July.