Digital Asset Holdings to open up DAML for developers

Digital Asset Holdings, the blockchain start-up commanded by Blythe Masters, has announced that it will be open-sourcing its DAML modelling language.

DAML, which Digital Asset describes as a “smart-contact-like” system for financial applications and supporting tools, is hailed by the company as a solution to the current market of modelling languages being unsuitable for regulated financial applications.

“Many that are exploring the use of smart contracts — legal agreements written as executable code to automate the processing of rights and obligations on a distributed ledger — are discovering the deficiencies with available smart contract languages,” the firm writes in a statement.

Digital Asset acquired the DAML language in April and has been working on improving its functionality since that time. The firm adds that work “still needs to be done” to ensure that DAML has the proper documentation and toolkits for developer usage outside of the company, but once that stage is complete it will be available publically. It adds: “by making DAML more widely available, we intend to enable clients, partners, and other vendors to develop, modify, and extend DAML Libraries for use with the Digital Asset Platform or other platforms, fostering a vibrant ecosystem of vendors and solutions.”

The firm continues that its aims and objectives are to promote standardisation, interoperability and collaboration across platforms and ledgers, and drive adoption.

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