VMware, Inc. (NYSE: VMW) today announced the commercial
availability of VMware Blockchain to provide a digital foundation
that enterprises can trust to build business networks and deploy
business-critical decentralized applications. With VMware
Blockchain, businesses are provided an extensible and scalable
enterprise-grade platform to unlock data silos and free up data to
flow securely, privately and instantaneously.
Businesses run on data and workflows where shared sources of
truth can create unrealized value, however complexities exist. Data
is often siloed within enterprise boundaries, resulting in
inefficient and costly steps to share and reconcile data across
these boundaries. A trusted multi-party network is required in
order to preserve integrity, enable privacy and to provide
enterprise-grade resilience to a global ecosystem.
“We have been focused on building an enterprise-grade blockchain
platform that meets the most stringent application requirements of
the financial services industry and other mission-critical
distributed workloads that require reliable and high-performance
blockchain services,” said Brendon Howe, Vice President and General
Manager, Blockchain, VMware. “VMware Blockchain delivers to
customers the enterprise features they need for production today
and the flexibility to adapt to future needs in the rapidly
evolving blockchain space.”
Announced as a beta at VMworld 2018 Europe, VMware is bringing
its industry-leading benefits to the VMware Blockchain platform to
provide enterprise-grade capabilities such as: extensibility,
security and privacy, performance, and scalability. Enterprises
seek ecosystem friendly solutions that create a shared source of
truth, and establish trust while maintaining privacy, making
multi-party workflows far more efficient. Recognizing the
importance of day-0 and day-2 operations to enable enterprises to
bring their blockchain solutions to production, VMware provides a
comprehensive set of operational capabilities, including ease of
deployment, monitoring, management, upgradability, and world class
support.
As enterprises rely on blockchain to handle multi-party
transactions, a key factor in how well a blockchain platform
performs and scales is the choice of the consensus mechanism
deployed. VMware Blockchain’s Scalable Byzantine Fault Tolerance
(SBFT), an enterprise-grade consensus engine developed internally
by VMware Research, is designed to solve the problems of scale and
performance in blockchain solutions while preserving
fault-tolerance and defense against malicious attacks. SBFT
maintains decentralized trust and supports ongoing governance in
multi-party networks.
As the enterprise-grade platform for multi-party processes,
VMware Blockchain brings a unique advantage of a layered
architecture that decouples the ledger from the smart contract
language. VMware Blockchain supports DAML, an open source smart
contract language created by VMware Blockchain technology partner,
Digital Asset. VMware Blockchain’s platform architecture includes a
virtual smart contract execution engine that is designed to easily
extend the platform to support additional smart contract
languages.
A wave of building new critical infrastructure is underway for
applications in financial services, manufacturing- and
retail-driven supply chain, and healthcare industries that leverage
blockchain technologies to help address the pain points experienced
with disconnected, siloed systems. For financial services firms,
blockchain technologies radically streamline and simplify
operations, allowing banks, broker-dealers, payment processors, and
other financial institutions to dramatically shorten processing
times, reduce manual processing and duplicative messaging, and
create new profit centers with features such as simultaneous trade
clearing and settlement. VMware Blockchain is leading the way for
financial services customers with partners including Accenture and
Digital Asset.
“Our co-innovation with VMware on blockchain provides a new way
of doing business that can benefit a number of industries,” said
Yuval Rooz, co-founder and CEO of Digital Asset. “VMware Blockchain
integrated with DAML smart contracts from Digital Asset provides
privacy between participants in the same workflow. Now even
competitors can collaborate on a distributed ledger with both trust
and privacy.”
VMware and Digital Asset have also been partnering with highly
innovative customers, including Broadridge Financial Solutions and
Australian Securities Exchange (ASX), that require resilient
enterprise-grade technology as their foundation.
A well-known global financial technology enterprise that
processes trillions of dollars in transactions annually for
thousands of counterparties, Broadridge Financial Solutions,
recognized the need for an enterprise-grade blockchain platform to
underpin its Distributed Ledger Technology Repurchase Agreement
(DLT Repo) solution. “Broadridge is focused on developing
blockchain-based solutions to transform capital market’s
infrastructure, and help our clients gain operational efficiencies
and create new opportunities,” said Horacio Barakat, Head of DLT
Repo for Broadridge Financial Solutions. “VMware Blockchain
provides a platform for us to model and enforce multi-party
agreements on a Scalable Byzantine Fault Tolerant platform. This
creates a single, shared and trusted, source of truth enabling the
automation and digitization of repo processes, and reducing
reconciliation efforts.”
As one of the world’s top 10 listed exchange groups, ASX
executes millions of trades every month with hundreds of thousands
of investors relying on its infrastructure. ASX required a new
solution that would support increasing transaction volumes and
enable secure data sharing that protects its customers’ privacy.
“The combination of VMware Blockchain and Digital Asset’s expertise
in smart contracts and distributed ledger technology is the right
partnership to help us transform and modernize Australia’s
financial market infrastructure,” said Dan Chesterman, chief
information officer of ASX. “DLT can help financial services firms
transform data, preserve privacy and confidentiality, and remove
manual processes that exist in the industry.”
“By unlocking the real potential of data in our digital world,
multiparty systems, supported by blockchain, are reshaping
industries and transforming the way companies work together. It’s
reshaping financial services, for example, by reimagining how
transactions are executed, from payments to post-trade processing,”
said David Treat, senior managing director, Global Blockchain and
Multiparty Systems Lead, Accenture. “Leveraging the powerful
technologies from VMware and Digital Asset, combined with
Accenture’s deep industry expertise, we’re providing these
capabilities so clients can expand into new products and services
while also streamlining operations as they develop, manage and
deploy complex multiparty workflows.”
Additional Resources
- Read more on today’s VMware Blockchain news at Office of the
CTO Blog
- Learn more about VMware Blockchain at
www.vmware.com/blockchain
About VMware
VMware software powers the world’s complex digital
infrastructure. The company’s cloud, networking and security, and
digital workspace offerings provide a dynamic and efficient digital
foundation to customers globally, aided by an extensive ecosystem
of partners. Headquartered in Palo Alto, California, VMware is
committed to being a force for good, from its breakthrough
innovations to its global impact. For more information, please
visit https://www.vmware.com/company.html.
VMware and VMworld are registered trademarks or trademarks of
VMware, Inc. or its subsidiaries in the United States and other
jurisdictions.
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Stefanie Cannon VMware Global Communications Phone: +1 650 427
1828 scannon@vmware.com
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