Digital Asset technology is the basis of the new CHESS settlement system

Digital Asset, the company behind the DAML smart contract, has made investments from Salesforce Ventures and Samsung Venture Investment Corp.

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1 Digital Asset Technology

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In December 2019, Digital Asset raised $ 35 million in Series C funding from the Australian Securities Exchange (ASX), Jefferson River Capital, among others, bringing the company’s total funds to $ 150 million.

According to a press release, Salesforce Ventures and Samsung Venture Investment Corp recently joined the financing round. The new investments will be used to support the adoption of DAML in industry sectors. It is also intended to expand the partner products activated by DAML and to fund new products that enhance the experience of developers.

Digital Asset turned smart contract language into open source ten months ago. An essential aspect is the DAML compatibility with several blockchains and distributed registers, as well as with conventional databases.

Digital Asset Technology

Digital Asset technology forms the basis of the new CHESS settlement system of the Australian Stock Exchange (ASX). Also, two other collaboration projects integrate DAML with Amazon AWS products and the VMWare blockchain.

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Against the backdrop of the fresh flow of capital, the company is making a new addition to its management team. Former Vice President of Microsoft, Susan Hauster, will become a member of its board of directors. With nearly three decades of work experience at Microsoft, Hauster will help Digital Asset technology analyze customer needs and develop market strategies.

“We will see that the adoption of smart contracts – and languages like DAML – will take off in the near future,”

Hauster said in the press release.

“I look forward to providing my expertise and helping Digital Asset expand its market activities and transform entire industries with DAML, providing innovation without compromising trust.”