Tencent's digital depository financial institution WeBank is exploring the integration of the DAML smart contract language for its consortium blockchain FISCO BCOS — the concatenation that will undergird China's national Blockchain-Based Service Network (BSN).

On April 16, WeBank announced that integration of the Digital Asset Modeling Language (DAML) — open up sourced by its creator, software firm Digital Asset, last year — would help information technology deliver pioneering blockchain solutions across finance, supply chain and other sectors in Mainland china and worldwide.

Adult back in 2022, DAML is an expressive linguistic communication designed for fiscal institutions to model and execute agreements using distributed ledger technology (DLT). Digital Nugget has ostensibly designed the language for optimal use in individual execution environments, rather than open ones.

Implementation at calibration

As reported, BCOS is an open-source and coinless blockchain platform congenital past the Financial Blockchain Shenzhen Consortium (FISCO). FISCO founding members include WeBank, Tencent Cloud, Huawei and Shenzhen Securities Communication and its network now reportedly spans over 10,000 individual developers and more than 500 corporate members worldwide.

The permissioned BCOS platform has been specifically designed to see the regulatory requirements and service demands of the fiscal services industry and supports privacy-preserving technologies such every bit Zero-Noesis Proofs.

In 2022, it was selected as the technology infrastructure for China'due south BSN, which will serve a range of land-controlled public services nationwide in sectors such as telecoms and energy management.

The BSN is expected to launch this month, six months after it was first rolled out for testing. The project is a joint initiative from the Chinese land policy think tank, the Country In­for­ma­tion Cen­ter, and land-run companies.