In our last blog post, Components of a Successful Blockchain Project Part 1, we discussed how Daml, Cord and Catalyst provide greater efficiency and technological innovation to financial services organizations. To continue the discussion, Robert van Donge from IntellectEU explains how Hyperledger Fabric, Daml, and Catalyst offer another route for businesses seeking a solution for complex multiparty workflows while simultaneously maintaining integrity and privacy.
Leveraging Hyperledger Fabric’s Modular Architecture for Maximum Privacy and Flexibility
Fabric is a permissioned blockchain platform well-suited for a variety of use cases in which transaction data needs to stay private between network participants. It was built on a modular architecture where distributed logic processing and agreement, transaction ordering, and transaction validation are processed in three phases with data shared either directly on-chain or privately through private data collections.
Fabric’s modular architecture also provides benefits for network designers as they can plug in various components, such as identity management solutions, rather than build new ones. This modularity also enables Fabric’s pluggable consensus model and creates a network of networks for its users. Fabric is most notable for its open source framework that provides the flexibility for any solution model that supports distributed applications implemented as chaincode. It also has the ability to store both structured and unstructured data at the storage level. Fabric offers low latency compared to public blockchains and many other benefits ideal for a variety of use cases, hence the wide adoption and recognition among enterprise users.
IntellectEU is among the founding members of the Linux Foundation’s Hyperledger Project and an active member of the Hyperledger community, as a subset of IntellectEU developers contribute code to the Hyperledger Fabric codebase, and regularly publish joint webinars with the Hyperledger team. Aside from product development, IntellectEU also offers consultancy and training, diving deep into specific Fabric concepts to help grow the awareness and expertise in markets globally.
Building Daml-Driven Applications to Unlock the Power of Fabric
IntellectEU uses Daml to build multiparty solutions for a variety of different industries, including financial services, banking and telecommunications. Since Daml is a platform-agnostic smart contract development framework, businesses are able to freely design their applications using the open source Daml SDK, prove the value of the multiparty application by testing it on Project: DABL (the cloud-based ledger platform offered by Digital Asset), and then deploy to production with enterprise support across any supported blockchain or database platform.
The Daml Driver for Fabric also provides additional privacy capabilities to Fabric, such as subtransaction privacy, to enable use cases that are simply not possible with Fabric alone. Through the Daml Driver for Fabric license, businesses receive enterprise support and production instances of their Daml-driven applications across any Daml supported platform, including Hyperledger Fabric.
Since Daml is platform-agnostic and fully portable, businesses can decide to deploy on the underlying infrastructure that makes sense for the use case including both traditional databases and distributed ledger platforms. Daml also enables true cross-platform interoperability, meaning businesses can form consortias across various databases and blockchains, run the Daml interoperability protocol on their node, and store their data on their choice of underlying infrastructure while still sharing data in real-time on a need-to-know basis with participating business entities.
Take a look at some of IntellectEU’s Daml-driven applications on the Daml marketplace. These solutions are ready for deployment and can be customized to meet specific business needs. Additionally, a complete end-to-end solution for Daml-driven securities services can be found here.
Implementing the Catalyst Blockchain Platform to Deploy, Manage, and Monitor Hyperledger Fabric Networks and Applications
The Catalyst Blockchain Platform is a cloud-agnostic platform that simplifies deployment, maintenance and management of Hyperledger Fabric networks. The platform is designed so that businesses can focus on the added value that Distributed Ledger Technology provides (business case, consortium and chaincode development) rather than the hurdles and steep learning curve that often comes with the deployment, management and maintenance of blockchain networks.
The platform leverages all of the components of Hyperledger Fabric and combines these with an easy-to-use UI, on-chain governance capabilities, a customizable maintenance dashboard and other custom-built tools, all designed to integrate seamlessly with your current technology stack.
The Catalyst platform provides the tooling and automation necessary to deploy Daml-driven apps in production on Fabric. With Catalyst, developers and IT specialists are able to:
- Flexibly set up and configure networks and nodes.
- Perform all typical Fabric network and node management activities through the intuitive user interface.
- Leverage both the Fabric-level Certificate Authority as well as external certificate authorities on the node and network level.
- Monitor all Fabric nodes and networks through a customizable dashboard that integrates with existing monitoring software.
- Rely on a variety of disaster recovery, backup and failover mechanisms.
- Deploy Daml workflows and smart contracts across both Fabric and/or Corda.
The entire network set up and maintenance is automated via Catalyst’s intuitive management console. Once this step is complete, the application will run and support more efficient multiparty workflows.
Learn more about IntellectEU’s Catalyst platform here and start deploying/managing production environments today.
IntellectEU is partnering with Digital Asset to revamp historically outdated business processes across the financial services industry. IntellectEU is a SWIFT service partner with a focus on digital finance and emerging technologies. IntellectEU is a founding member of the Linux Foundation’s Hyperledger Project and works with all leading blockchain providers in banking, insurance, capital markets, and the telecommunications space.
Read more about Daml Drivers here.