San Francisco-based blockchain technology solutions provider Chain, Inc., has recently released ‘Chain Core Developer Edition,’ a free and open source version of its distributed ledger platform that enables organizations to issue and transfer assets on permissioned blockchain networks.
Founded in 2014, Chain, Inc. is a technology company that partners with leading organizations “to build, deploy, and operate blockchain networks that enable breakthrough financial products and services.” The technology company has raised more than $40 million in funding from RRE Ventures, Khosla Ventures, and strategic partners including Capital One, Citigroup, Fiserv, Nasdaq, Orange, and Visa. (See also, Top 3 Books to Learn About Blockchain)
With the launch of ‘Chain Core Developer Edition,’ developers will be able to download and install Chain Core. It will empower them to start or join a blockchain network, build financial applications, and access in-depth technical documentation and tutorials, as per the press release. It will also provide users the choice to run their prototypes on a test network, or “testnet,” operated by Chain, Microsoft Corporation (MSFT), and the Initiative for Cryptocurrencies and Contracts (IC3). Chain’s Developer Edition comes with code samples, a guide on how to get started, as well as installers and dashboard interface for various operating systems such as Windows, Mac, and Linux. (See also, Microsoft, Bank of America Team Up on Blockchain Technology)
While Chain Core Enterprise Edition is already being leveraged for innovative products by market leaders across the payments, banking, capital markets, and insurance industries, the Chain Core Developer Edition is a product specifically designed to build blockchain architecture for the financial industry.
“We are thrilled to give developers everywhere open access to Chain’s platform,” said Ryan Smith, CTO of Chain. “Chain Core Developer Edition provides a seamless end-to-end experience to design, build, and test prototypes on a system we created from the ground up to suit the scalability and security requirements of the financial industry.”
“Microsoft believes the potential for blockchain technology to digitally transform the financial industry is enormous.” said Marley Gray, Principal Architect PM and Azure Blockchain Engineering at Microsoft. “We are pleased to support the operation of the Chain testnet on Microsoft Azure Blockchain as a Service and look forward to collaborating with the ecosystem to enable financial institutions to adopt distributed ledger technology.”
Back in December 2015, Nasdaq, Inc. (NDAQ) successfully tested the use of Nasdaq Linq blockchain ledger technology to complete and record a private securities transaction. The transaction of issuance of shares to a private investor using Nasdaq's blockchain-enabled technology was documented by Chain, Inc.
Less than a week ago, New York based financial technology firm R3 – a consortium of some of the biggest banks and financial institutions announced that Corda – the blockchain platform developed by collaborative efforts will be open-source. “Corda's code will be contributed on November, 30 to the Hyperledger project - a cross-industry project led by the non-profit Linux Foundation to advance blockchain technology by coming up with common standards” as per Reuters. (Related reading, see: R3's Blockchain Consortium Booms, adds Metlife)