Blockchain DAppsSmart Contracts

Digital Asset Acquires Swiss Tech Firm for Smart Contracts-Alternative Modeling Language

Digital Asset Holdings, a venture-backed developer of distributed ledger technology, today revealed that it acquired Zurich-based Elevence Digital Finance AG, a technology firm that has developed an expressive language for financial institutions to model and execute agreements.

The acquisition has led the New York-based startup to also announce the Digital Asset Modeling Language (DAML), a privacy preserving yet provable alternative to Smart Contracts designed specifically for financial services.

The Elevence team will play a major role in DAML’s development as the Swiss firm has already developed a modeling language capable of expressing any right or obligation, including cash, securities and derivatives. The code defines the considerations between parties and determines how these contractual relations can evolve over time. This provides relevant parties with a unified view of current and future rights and obligations on a need-to-know basis, rather than revealing confidential information as in smart contract systems.


Journalist, policy analyst, and evangelist of new, disruptive technologies including big data analytics, Internet of Things, and cryptocurrencies. Internet industry veteran with regional c-suite experience, and journalist credentials earned at, Internet World magazine, and Mecklermedia Corporation.
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