[Cross-posted on Oracle Blockchain’s blog]
DAML is an expressive smart contract language designed with the needs of financial institutions in mind. It raises the productivity of smart contract developers and enables the automated execution and validation of contractual trading agreements.
DAML was open sourced in April 2019, and shortly after, Digital Asset partners started integrating the smart contract language with various blockchain frameworks.
HACERA, a leading enterprise-blockchain security products company, developed and open sourced in 2019 the official DAML integration SDK for Hyperledger Fabric, with Digital Asset. HACERA has been involved with Fabric’s development since the beginning and even designed the certificate-based privacy system that is still in use today, while also being the lead partner for Digital Asset in integrating its DAML SDK across various platforms.
Oracle has recently worked with HACERA to combine the benefits of DAML smart contracts and Oracle Blockchain Platform, an enterprise-grade Hyperledger Fabric-based platform, for financial services customers. As the result, HACERA has certified the Unbounded SCALE™ (Smart Contract Abstraction Layer for Enterprise) product to seamlessly and securely support DAML-on-OBP.
A DAML solution built for Hyperledger Fabric
The powerful combination of Oracle Blockchain Platform’s enhanced Hyperledger Fabric foundation, available as cloud Blockchain-as-a-Service and on premises, and DAML support by HACERA’s SCALE™ enables customers to focus on the business requirements and specifications of the smart contracts instead of the nuts and bolts of how they are built, deployed, and managed.
“The collaboration by Hyperledger member Oracle and community contributor HACERA to bring Digital Asset’s DAML programming language to financial institutions is really a great thing to see,” said Brian Behlendorf, Hyperledger’s Executive Director. “The financial markets require solutions that have flexibility, resiliency and scale, so delivering a managed solution built on Hyperledger Fabric checks a lot of boxes for customers. This will make it faster and easier to deploy and scale production-grade blockchain solutions. This is another exciting step in bringing enterprise-grade DLT and smart contract applications into the core of financial services.”
The DAML-on-Oracle Blockchain Platform solution combines Oracle’s strengths in industry-leading scalability, availability, and security with HACERA’s integration of the DAML SDK with Hyperledger Fabric DLT, while leveraging its enterprise-grade extensions for privacy, governance and interoperability.
Hyperledger Fabric continues to dominate the enterprise blockchain space and a recent study by University of Cambridge show more enterprise blockchain implementations using Fabric than any other blockchain framework by a wide margin. Hyperledger Fabric offers a proven track record for privacy, security, and flexibility. With hundreds of known implementations to its credit, Hyperledger Fabric is the most relied-upon, permissioned and performant blockchain framework for enterprise customers.
The Benefits of Running DAML Smart Contracts on Oracle Blockchain
Oracle Blockchain Platform provides a pre-assembled, hardened version of Hyperledger Fabric as managed cloud BaaS in Oracle Cloud Infrastructure or on-premises Enterprise Edition with many Oracle enhancements. Once the Oracle blockchain instances and SCALE™ have been provisioned, which includes deploying SCALE™ chaincode on Oracle’s peer nodes, DAML smart contracts are dynamically deployed through SCALE™ on Oracle Blockchain Platform and their client connections exposed by SCALE™ to a variety of client applications and UIs. HACERA and Oracle also bring leading enterprise-grade privacy, governance and identity management to any project through the integration with Oracle’s Identity and Access Management and HACERA’s Private-Sea, Kore, and DIM products, respectively.
“This is yet another example of Hyperledger Fabric’s extensibility. We brought DAML to the Fabric community with Digital Asset in 2019. We have now partnered with Oracle to seamlessly integrate our Unbounded SCALE™ product, which provides the levels of privacy, confidentiality – and thanks to Oracle, the scalability and security – required for real-world financial applications,” says Jonathan Levi, CEO of HACERA.
Oracle Blockchain Platform delivers enhanced management and operations experience, ease-of-use, and numerous production-ready capabilities, including:
- High availability, scalability, identity management, security, and enterprise integration
- Flexibility to deploy in Oracle Cloud, on-premises, and in hybrid/multi-cloud topologies.
- An extensive REST API and plug-n-play integration with back-office systems using adapters for Oracle and non-Oracle ERPs and other systems of record.
- Ability for enterprises and other organizations to use rooted 3rd party certificates
- Support for on-chain fine-grained Access Control Lists and chaincode APIs for privacy and confidentiality.
- Significant performance, data integrity, and productivity advantages using Oracle’s Berkeley DB as its embedded key/value-based world state database with SQL query access
- Rich history database extension to asynchronously shadow blockchain transaction history to Oracle Autonomous Data Warehouse (ADW), Oracle DBaaS, or on premises Oracle Database for BI/Analytics.
The result is an integrated DAML-on-Oracle Blockchain solution, one of the most powerful end-to-end blockchain solutions available to the financial services sector, which enables business-critical DAML smart contracts and applications to be brought to production deployments on this platform.
In addition to the scale, security and stability offered by the DAML-on-Oracle Blockchain, it also makes it incredibly easy and straightforward to quickly build robust tokenizations of critical digital assets.
During the Hyperledger Global Forum 2020, HACERA CEO’s, Jonathan Levi was able to demonstrate this capability in a live demo (see video below.) Mr. Levi used a token taxonomy framework (TTF) to create and deploy a DAML smart contract for bond trading on Oracle Blockchain Platform Enterprise Edition live. The demonstration was a proof point for HACERA’s SCALE ability to leverage Fabric framework with the scale and ease-of-use of DAML-on-Oracle Blockchain.
To learn more about HACERA’s Unbounded SCALE™ running DAML on Oracle Blockchain Platform, watch the video below to view the demo.