invezz.com
VMware, a major VM and cloud computing company, recently launched its enterprise-focused blockchain platform, VMware Blockchain. The company, which is owned by Dell, originally mentioned that it is working on its own blockchain back in 2018, when it promised an enterprise-oriented platform for secure data sharing.
Dell subsidiary launches its own blockchain
VMware, a billion-dollar firm, just joined a group of major tech giants who have officially gone blockchain. Some time ago, the company identified fragmented and very complex multi-party enterprise workflows which have brought numerous issues.
Such issues, including growing costs, delays, and serious impacts on innovation, were considered a core issue. Fortunately, the firm also managed to discover a solution, noting that most of them can be solved by using blockchain technology.
Over the last few years, the company conducted research, development, and finally, the launch of its own blockchain, which is now available for commercial use.
The blockchain was also tested by ASX (Australian Stock Exchange), which aims to use it to replace the CHESS system which it currently uses. However, it recently announced that this shift will be delayed until April 2023.
A new blockchain platform is already in use
On the other hand, the newly developed solution has already been put to use by Broadridge Financial Solutions, an international fintech company. The firm uses it for developing solutions that would transform the infrastructure of the capital market. The firm’s Head of DLT Repo, Horacio Barakat, also added that the platform allowed Broadbridge to ‘model and enforce multi-party agreements on a Scalable Byzantine Fault Tolerant (SBFT) platform.’
The platform’s SBFT protocol was also created by VMware.
The company also teamed up with Digital Asset, in order to include its Digital Asset Modeling Language smart contract. Meanwhile, it is also partnering with a number of other service partners, including Infosys, Intellect EU, and Accenture.