VMware Announces Availability of Enterprise Blockchain PlatformDate : 18 Nov 2020
Businesses run on data and workflows where shared sources of truth can create unrealized value, however complexities exist. Data is often siloed within enterprise boundaries, resulting in inefficient and costly steps to share and reconcile data across these boundaries. A trusted multi-party network is required in order to preserve integrity, enable privacy and to provide enterprise-grade resilience to a global ecosystem.
“We have been focused on building an enterprise-grade blockchain platform that meets the most stringent application requirements of the financial services industry and other mission-critical distributed workloads that require reliable and high-performance blockchain services,” said
Announced as a beta at VMworld 2018 Europe,
As enterprises rely on blockchain to handle multi-party transactions, a key factor in how well a blockchain platform performs and scales is the choice of the consensus mechanism deployed. VMware Blockchain’s Scalable Byzantine Fault Tolerance (SBFT), an enterprise-grade consensus engine developed internally by
As the enterprise-grade platform for multi-party processes, VMware Blockchain brings a unique advantage of a layered architecture that decouples the ledger from the smart contract language. VMware Blockchain supports DAML, an open source smart contract language created by VMware Blockchain technology partner, Digital Asset. VMware Blockchain’s platform architecture includes a virtual smart contract execution engine that is designed to easily extend the platform to support additional smart contract languages.
A wave of building new critical infrastructure is underway for applications in financial services, manufacturing- and retail-driven supply chain, and healthcare industries that leverage blockchain technologies to help address the pain points experienced with disconnected, siloed systems. For financial services firms, blockchain technologies radically streamline and simplify operations, allowing banks, broker-dealers, payment processors, and other financial institutions to dramatically shorten processing times, reduce manual processing and duplicative messaging, and create new profit centers with features such as simultaneous trade clearing and settlement. VMware Blockchain is leading the way for financial services customers with partners including Accenture and Digital Asset.
“Our co-innovation with
A well-known global financial technology enterprise that processes trillions of dollars in transactions annually for thousands of counterparties, Broadridge Financial Solutions, recognized the need for an enterprise-grade blockchain platform to underpin its Distributed Ledger Technology Repurchase Agreement (DLT Repo) solution. “Broadridge is focused on developing blockchain-based solutions to transform capital market’s infrastructure, and help our clients gain operational efficiencies and create new opportunities,” said
As one of the world’s top 10 listed exchange groups, ASX executes millions of trades every month with hundreds of thousands of investors relying on its infrastructure. ASX required a new solution that would support increasing transaction volumes and enable secure data sharing that protects its customers’ privacy. “The combination of VMware Blockchain and Digital Asset’s expertise in smart contracts and distributed ledger technology is the right partnership to help us transform and modernize Australia’s financial market infrastructure,” said
“By unlocking the real potential of data in our digital world, multiparty systems, supported by blockchain, are reshaping industries and transforming the way companies work together. It’s reshaping financial services, for example, by reimagining how transactions are executed, from payments to post-trade processing,” said
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