In a blog post, VMWare explains that current enterprise workflows remain complex and fragmented adding unnecessary friction and cost to processes. More specifically, financial services remain “siloed” in multiple systems. The new service seeks to address these shortcomings by providing blockchain infrastructure these firms need, including:
- Consistency of data in the blockchain and resilience of the system in general; this is especially applicable for capital market infrastructure deployed on blockchain that needs to meet the stringent requirements to run key economic functions of a country
- Maintaining privacy and a verifiable single source of truth for all parties to avoid the need to reconcile data
- Deep integration with smart contract languages to allow application developers access to all features and bring the best of the language and the platform
- Operational simplicity around deployment, observability, upgradability, and supportability
VMWare says their enterprise customers are bringing their blockchain projects out of the labs and into production. One example the partnership with the Australian Stock Exchange – a company that has been working a good amount of time on a blockchain solution to replace a legacy system that is getting long in the tooth.
Digital Asset claims that DAML is quickly becoming the standard for mission-critical smart contract development and VMware Blockchain provides enterprises with a simple way to deploy multi-party applications on a platform developed by an organization they already know and trust.