Microsoft, Goldman Sachs and Other Industry Leaders Team up in New Blockchain Network
A new blockchain network specifically designed for financial institutions is being developed by a conglomerate of tech and finance partners, including Microsoft and Goldman Sachs. According to an announcement on May 9, the Canton Network is a privacy-enabled, interoperable blockchain network specifically tailored to those in the institutional asset space.
The network is set to include partners such as Microsoft, Goldman Sachs, Hashed, Coinplug, KEB Hana Bank and more. The consortium also plans to leverage the expertise of custodians, brokers, exchanges, and token issuers to create a “next generation blockchain-based financial services platform”.
The Canton Network will be built using the Cosmos SDK, an open source framework for making interoperable, decentralized and fault-tolerant applications. This will enable the network to provide secure, private, and cost-efficient solutions for institutional investors, asset issuers and financial institutions.
