DAML model for business processess
Nomura Research Institute Financial Technologies India Pvt. Ltd. (NRI FT India) has partnered with Digital Asset to create innovative capital markets applications using DAML, the open source smart contract language created by Digital Asset to synchronize business processes and make transaction workflow more transparent and efficient.
DAML is used to model business processes using smart contracts, capturing the rights and obligations associated with any asset class, business transaction or complex multi-party workflow to drive automation and efficiency.
DAML is a core component of a number of Digital Asset projects and proofs of concept, including those with the ASX, HKEX and other market infrastructure providers.
Maulindu Chatterjee, Head of Global Delivery at NRI FT India, said: “Our rich domain expertise in capital markets and years of experience delivering mission-critical solutions has helped us rapidly establish competencies with DAML, a technology we find is getting adopted by major markets in the APAC region such as ASX & HKEX.”
“Importantly,” Chatterjee added, “DAML has significantly enriched our capabilities as we build out complex enterprise workflows for a range of financial products.
”NRI FT India was able to develop multiple Proof of Concepts with DAML Smart Contracts within a short span of just five months. NRI FT India is looking forward to expanding the work we’re doing with Digital Asset in the Australian, Hong Kong and Japanese markets. Our collaboration with Digital Asset is a major strategic business opportunity for us,” he said.
“We are delighted to partner with NRI FT India – its deep expertise and global delivery capability will help us scale our solutions and meet the rigorous needs of systemically consequential capital market infrastructures and financial institutions in APAC,” said Jon Rout, Business Development Director Asia Pacific for Digital Asset.
“We look forward to expanding the work we are doing with NRI FT India on significant client engagements and exploring new business opportunities together in the future.”
DAML is an open source functional programming language designed specifically for use in multi-party business processes. DAML abstracts away the underlying complexities of blockchains and database technologies, allowing developers to focus on the logic of the applications they are building.
Founded in 2014, Digital Asset is a leading provider of distributed ledger technology (DLT) solutions that solve real-world business challenges. The company combines deep industry expertise with advanced technologies, including DAML, an intuitive smart contract language, to help clients streamline multi-party business processes on distributed platforms.
Founded in 2001, Nomura Research Institute Financial Technologies India Pvt. Ltd. (NRI FT India) is a wholly-owned subsidiary of Nomura Research Institute (NRI). NRI FT India provides a range of reliable, scalable and adaptable IT Solutions to capital market entities around the world and has established the technical excellence and successful implementation track records in developed markets like Japan, Australia, USA, UK, Hong Kong, Singapore, as well as emerging markets like Thailand, Sri Lanka and Mongolia.
Founded in 1965, NRI is a leading global provider of system solutions and consulting services, including management consulting, system integration, and IT management and solutions for financial, manufacturing, retail and service industries. Clients partner with NRI to expand businesses, design corporate structures and create new business strategies. NRI has about 13,000 employees in more than 50 offices globally including New York, London, Tokyo, Hong Kong, Singapore, and Australia. NRI reports annual sales above US$4.2 billion. fiinews.com
