Notable Private Blockchains and its various functions

Notable Private Blockchains examples can be drawn from some private or permission blockchains that are certainly gaining mindshare and traction. Current examples are:

Notable Private Blockchains
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Notable Private Blockchains – Axoni AxCore

Under Notable Private Blockchains, Axoni is a capital market technology firm founded in 2013 that specializes in distributed ledger technology and blockchain infrastructure. Among other projects, Axoni’s flagship initiative is the use of their technology to upgrade the Depository Trust & Clearing Corporation’s trade information warehouse.

Notable Private Blockchains – R3 Corda

Under Notable Private Blockchains, Corda is an open-source blockchain project designed to solve pain points in the financial services industry. It was designed by a consortium of banks and R3, my employer, so I declare my interest here. In Chief Technology Officer Richard Brown’s own words, “Corda is an open-source enterprise blockchain platform that has been designed and built from the ground up to enable legal contracts and other shared data to be managed and synchronized between mutually untrusting organizations in any industry. Uniquely amongst enterprise blockchain platforms, Corda allows a diverse range of applications to interoperate on a single global network”.

Corda uses concepts drawn from Bitcoin and public blockchains to guarantee that digital assets are unique and data is synchronized between databases controlled by different parties, though it diverges from other blockchains in that it does not bundle unrelated transactions together and distribute them to all participants in a network for periodic processing. This means that in Notable Private Blockchains it can process higher transaction volumes and resolves the privacy issue of public blockchains.

Although Corda was originally designed for regulated financial institutions, it is now being actively explored by other industries. Corda is being used, among other things, for trading baskets of financial assets, for gold trading, syndicated loans, and FX trade matching.

Notable Private Blockchains – Digital Asset GSL

Digital Asset Holdings, LLC is a company founded in 2014. According to Wikipedia, it ‘Builds products based on distributed ledger technology (DLT) for regulated financial institutions, such as financial market infrastructure providers, CCPs, CSDs, exchanges, banks, custodians and their market participants’. The technology platform is called the Global Synchronization Log (GSL). Digital Asset has a notable contract to use DLT to modernize and replace the Australian Stock Exchange’s technology systems. This is regarded as a major vote of confidence for Digital Asset and the entire private blockchain industry.

Notable Private Blockchains – Hyperledger Fabric

Hyperledger Fabric is a blockchain technology originally developed by IBM and Digital Asset and incubated under the Linux Foundation’s Hyperledger Project. It seems to have some traction in supply chains and healthcare.

This session has provided a brief view of the Notable Private Blockchains and their basic functionalities with respect to the digital and cryptocurrency industry.


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