Adjoint, developer of smart contracts and distributed ledger technology for the financial industry, announced today the release of their open source platform Uplink. Adjoint will use this platform to propel development of domain-specific applications in the financial sector across banking, capital markets, insurance, asset management, and commodities trading.
In doing this open source release, Adjoint is responding to client demand in the financial services industry. This demand is for platforms which the clients can use themselves to create, verify and execute financial smart contracts in a secure, private and scalable way. In addition to financial clients, Uplink will also provide a focal point for a community of partners in smart contracts development, financial services consulting and industry bodies.
Adjoint’s powerful Financial Core Language (FCL) is a key part of this open source release. FCL will allow enterprise clients to write smart contracts that accurately represent real-world financial transactions. The Uplink platform is asset agnostic, allowing participants to onboard multiple assets onto a distributed ledger and manage balances. Using FCL on Uplink, participants can design, validate and execute contracts over assets balances and manage other contracts. Software development kits are also available to integrate with other ledgers and traditional systems.
Stephen Diehl, Adjoint’s CTO said “We’re pleased to release Uplink after incubating the project for a year. It is the sum of a lot of engineering work and deep thought on what the next generation of distributed ledgers should offer. Our future work will build on Uplink as the standard and allow us to construct more sophisticated and provably safe contracts than is available in previous generation tools.”
Somil Goyal, Adjoint’s COO commented "Uplink will provide our financial clients a higher level of risk management, compliance and operational efficiency.” The release of Uplink closely follows the announcement that Adjoint has joined ISDA, and in parallel to its participation in Digital Switzerland sponsored Kickstart Accelerator. Somil continued, “We have designed Uplink to manage agreements between regulated financial companies, reflecting input we received from a large number of clients in many sub-sectors. As open source software, Uplink will be enhanced and extended by our industry partners and the developer community. Uplink will become a better way for global financial firms to conduct a wide variety of transactions."
Adjoint offers a smart contract platform and distributed ledger solutions designed to improve efficiency, security, and compliance in modern finance. Its revolutionary messaging and consensus protocol – based on the latest research in cryptography, type systems and formal verification – allows enterprises to quickly deploy, maintain, verify and execute smart contracts globally. Such technology helps enterprises reduce costs, mitigate risks and improve margins. Founded in 2016, the company has offices in Boston, MA and London, UK. For more information, please visit www.adjoint.io or twitter.com/adjoint_io.