Digital Asset Holdings Opens Source Smart Contract Language

Rage Review : As more and more financial institutions and startups explore and develop new smart contract languages, Digital Asset Holdings announced the open source DAML to promote the industry to better adopt blockchain technology. In order to make DAML more widely used, users, partners and other suppliers can directly develop, modify and expand the DAML code base using the Digital Asset platform or other platforms.

Translation: Nicole

Digital Asset Holdings has announced the open-sourcing of DAML, the smart contract language it acquired from startup Elevence earlier this year.

While it’s unclear how long this transition will take, the blockchain startup led by Blythe Masters is determined to “advance industry adoption” of blockchain technology.

However, Digital Asset said there is a need to improve DAML’s functionality and documentation so that it can be used by companies other than startups.

The company wrote:

“To make DAML more widely available, we want to enable users, partners and other vendors to evolve, modify and extend the DAML codebase directly with the Digital Asset Platform or other platforms, thereby fostering a vibrant ecosystem of vendors and solutions.”

In addition, Digital Asset Holdings hinted that the failure of The DAO project (smart contracts created using Ethereum's Solidity language) was due to the fact that the tools it used were not sufficient to meet the needs of enterprises and industries.

Open source is driven by the need for financial institutions and startups to explore and develop new smart contract languages.

In August, Barclays revealed it was working with University College London to develop a smart contract language, while startups like Legalese have received funding to enable new developments.