Author
Tatsiana Yablonskaya
Taking strong interest in blockchain, cryptocurrencies, and IoT, Tatsiana Yablonskaya got deep understanding of the emerging techs believing in their potential to drive the future.
Digital Asset Holdings has acquired Hyperledger and Bits of Proof in order to become a distributed ledger provider.
Judging by recent event blockchain is becoming more and more valuable even not referring to bitcoin. True possibilities of the underlying technology of digital currency have been fully appreciated recently. Blockchain is believed to be useful for many spheres, not only for fast payments.
It’s been only two days since Nasdaq announced its partnership with Chain to launch a blockchain-based program. The present day has brought the official confirmation of two acquisitions with great future benefits. The reports say that Digital Asset Holdings LLC has become the owner of ledger platform Hyperledger based in San Francisco and blockchain software company Bits of Proof located in Budapest.
Blythe Masters, CEO at Digital Asset Holdings, calls the cooperation promising: “Hyperledger and Bits of Proof add valuable new dimensions to our product offering and great talent to our team”.
Masters herself can be called a newcomer as she joined the company earlier this year. She admits that her team sees a great potential in blockchain aiming at offering real-time settlements using distributed ledgers. Ideally they seek to apply the technology to reduce settlement latency, keep counterparty risks to a minimum and make the whole process as efficient as possible.
Hyperledger might have aroused Blythe’s interest when it started offering a technology of private blockchain networks to financial companies. It must be noted that the company uses so-called “permissioned” ledgers in which central authority appoints and approves computers charged with updating and authenticating the ledger.
Thus it gives organizations a possibility to create multiple private blockchains within an established group of participants. Benefits can be appreciated in comparison with “permissionless” ledgers accessible for any mining computer.
As for Bits of Proof, it uses an enterprise-level server which integrates blockchain technology into financial application.
Thus, Hyperledger’s technology plus Bits of Proof’s server make up a perfect combination for Digital Asset Holdings and allow it to become a distributed ledger provider.
Digital Asset came across some misunderstanding of bitcoin community after the acquisition. The thing is that using blockchain by financial institutions isn’t approved there. Nevertheless the company finds support of John Whelan, CEO of Coinist Inc.: “Hyperledger has some very novel thinking about how to apply the power of blockchain technology without the pitfalls commonly associated with bitcoin. Digital Asset’s acquisition of HyperLedger looks like a clear vote for a next generation of permissioned, blockchain-based, clearing and settling systems”.
Shortly after the acquisition several specialists from Hyperledger and Bits of Proof will temporarily change place of residence and join Digital Asset. CEO of Hyperledger is appointed to the position of Chief marketing officer of Digital Asset.
Blythe Masters who was recently named a “financial terrorist” shared her plans and expectation of partnership: “We build tools to help clients harness the power of distributed ledgers to serve their own customers. We integrate financial infrastructure with a variety of innovative new technologies inspired by the blockchain. Different ledger technologies serve different purposes and all of those we integrate with are additive.”
