It was recently announced that Sphereon has been chosen, by Factom, to integrate DAML with their own Factom Asset Token (FAT).
This integration was undertaken as Factom looks to continue expanding upon the versatility of ‘FAT’ and their recently launched PegNet platform (decentralized stablecoin network).
More specifically, the companies indicate that this move will allow for, not only the tokenization, but the management of both fungible, and non-fungible, assets.
DAML is a smart contract language that was developed by Digital Asset Holdings. The smart language was made open source, roughly 6 months ago.
It is described by Digital Asset Holdings as a means to ‘abstract away the underlying complexities of blockchains and database technologies, allowing developers to focus on the logic of the applications they are building.’
Upon announcing the integration of DAML with Factom Protocol, by Sphereon, representatives from each company took the time to comment.
Dan O’Prey, CMO of Digital Asset, stated,
“It’s amazing to see the community adopt DAML in such an innovative way. What Sphereon have done to integrate DAML with the Factom Protocol is really unique and shows the power of open source software.”
Greg Forst, Director of Marketing at Factom Protocol, stated,
“Today’s announcement continues the strong wave of momentum powering the ascent of the Factom Protocol in recent months. This is yet another tangible use-case demonstrating the protocol’s adaptability while strengthening the Protocol’s position as the gateway for government and enterprise-grade blockchain innovation.”
Maarten Boender, Co-founder of Sphereon, stated,
“We have a strong background in business process management and recognized the enormous potential of DAML for multi-party, distributed, and secure workflows, allowing participants to collaborate in structured processes as never before. By supporting DAML applications we enable enterprises to easily transact with tokenized assets, at a fixed, low cost on a very secure public ledger.”
Sphereon maintains headquarters in the Netherlands, and was founded in 2015. The company specializes in offering an API platform for ‘smart information and document processing’.
Managing Director, Maarten Boender, currently oversees company operations.
Factom is a Texas based company, which was founded in 2014. They identify as a ‘blockchain innovations’ company. In the time since their launch, Factom has developed a variety of blockchain solutions, which have seen varying levels adoption by, both, the government and private companies.
CEO, Paul Snow, currently oversees company operations.
Digital Asset Holdings
Headquartered in New York, Digital Asset Holdings is a distributed ledger technology provider, which was founded in 2014.
CEO, Yuval Rooz, currently oversees company operations.
In Other News
Weeks ago, we covered the launch of a new token standard by Factom. At the time, the move marked a noteworthy shift in focus by Factom to security tokens, as the sector looks poised for a bright future.