Factom Protocol, an open-source blockchain platform for enterprises, has enlisted the help of Sphereon to integrate the Factom Asset Token (FAT) protocol with DAML, an open source programming language for smart contracts.
The Factom Asset Token is a tokenization protocol that allows users to tokenize real world assets and prove ownership or transfer them. These assets can include currencies, coupons, stocks, real estate and others. Integrating this protocol with DAML will allow anyone to issue fungible and non-fungible tokens on any of the ledgers supported by DAML.
Sphereon will commercially support the integration of DAML with Factom, thanks to its specialization in enterprise content management and blockchain technology development. The integration with Factom Asset Token will be open source, and available to both FAT and DAML communities.
The DAML language was developed by Digital Asset, which open sourced it in April of this year. The company provides an integrated suite of tools to accelerate the development of DAML applications, fostering the adoption of the language even without direct input.
“It’s amazing to see the community adopt DAML in such an innovative way,” commented Dan O’Prey, CMO at Digital Asset. “What Sphereon have done to integrate DAML with the Factom Protocol is really unique and shows the power of open source software.“
Applications built on DAML will be able to boost their interoperability by connecting to PegNet, a Factom-based non-custodial network of 32 tokens pegged to various currencies and assets, without relying on counterparties.
Greg Forst, Director of Marketing at Factom Protocol sees this as a critical step towards adoption of the project. “Today’s announcement continues the strong wave of momentum powering the ascent of the Factom Protocol in recent months,” he remarked. “This is yet another tangible use-case demonstrating the protocol’s adaptability while strengthening the Protocol’s position as the gateway for government and enterprise-grade blockchain innovation.”
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