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To drive enterprise adoption of Ethereum, VMware was launched VMware Blockchain for Ethereum, available in beta. Two months since its debut, 100 customers joined the beta program. Today, VMware announced new enterprise features for VMware Blockchain coming to the Ethereum beta release. In addition, VMware announced its strategic customer Tel Aviv Stock Exchange as well as new integrations with Fireblocks and Web3 Labs – which innovates with a blockchain platform compatible with VMware’s Ethereum.
Blockchain technology provides revolutionary business transformation opportunities for companies by enabling the creation of distributed network ecosystems, multi-party applications, and digital asset experiences. VMware Blockchain for Ethereum is built on VMware’s enterprise blockchain platform for businesses to easily build, operate efficiently, and rapidly scale Ethereum-based blockchain networks. It also gives customers flexibility and choice by adding Ethereum support in addition to existing support for the Daml smart contract language.
“Strong response to Ethereum VMware Blockchainbetalaunch is a testament to the vision we set as a company: To bring enterprise-class blockchain technology to the biggest companies and brands on the planet. We are proud to have leaders like Tel Aviv Stock Exchange, Fireblocks, Web3 Labs on this journey with us,” said Kit Colbert, Chief Technology Officer, VMware.
The Tel Aviv Stock Exchange and the Israeli Ministry of Finance will prepare for the issuance of government bonds on a new blockchain platform. Project Eden is a digital government bond issuance pilot by digital asset technology leaders, VMware and Fireblocks.
“The Tel Aviv Stock Exchange is proud to collaborate with VMware and Fireblocks to build a globally recognized digital asset exchange to issue and trade tokenized government bonds and other digital assets in the future. The transformational platform will be based on blockchain, smart contracts and technology tokenization. We chose VMware Blockchain as a blockchain foundation that has proven to exceed the strict requirements of the company and the scale of TASE’s 5-year strategic plan. The platform is expected to benefit exchanges, custodians, and clients by reducing costs, speeding up time in issuing and clearing government bonds, increasing transparency, and reducing risk,” said Orly Grinfeld, EVP Head of Clearing at the Tel Aviv Stock Exchange.
VMware is pleased to announce two new strategic integrations with VMware Blockchain for Ethereum customers to rapidly build end-to-end solutions.
Fireblocks, is an award-winning digital asset and crypto technology platform used by over 1,500 customers. Fireblocks supports VMware Blockchain for Ethereum for institutional grade, digital asset issuance, exchange and custody.
“Using the technical and security expertise of Fireblocks and VMware, regulated financial institutions such as the Tel Aviv Stock Exchange can securely issue, store, and transfer digital assets without jeopardizing operational efficiency for customers and trading teams,” said Michael Shaulov, Chief Executive Officer. in Fireblocks. “As the world continues to digitize, it is important to have a reliable, reliable and scalable technology layer in place so that enterprise clients can onboard digital asset operations at scale in fast-growing markets.”
Web3 Labs is a web3 and blockchain technology and strategy company specializing in solutions for enterprises. The Web3j library makes it easy to build Ethereum applications with the Java platform. Since its inception in 2016 it has been downloaded more than two million times and is widely used in several corporate blockchain initiatives from building next-generation financial market infrastructure to identity platforms. Together with the Eprirus data and analytics platform, which is coming soon to VMware Blockchain, Web3j provides the main infrastructure for integrating blockchain networks with enterprises.
“We are enormously excited to partner with VMware, a world-class software brand to drive enterprise adoption of the Ethereum technology stack. VMware Blockchain for Ethereum supports Web3j out of the box. This allows java developers to work with Ethereum blockchains, without the additional overhead of having to write integration code itself for the platform. We look forward to deepening the integration with VMware Blockchain in the future,” said Conor Svensson, Founder and CEO of Web3 Labs and best-selling Author of The Blockchain Innovators Handbook.
What’s New in Upcoming Beta Releases
Built for enterprise use cases, VMware Blockchain for Ethereum is an EVM-compatible platform that will provide high throughput performance, programmable privacy capabilities based on unique ZKP, enterprise-class operations, and governance features.
In the next beta release (1), VMware continues to address the enterprise Ethereum gap with two new features:
VMware’s approach is to use governance actions based on smart contracts to control network membership as well as a robust BFT reconfiguration framework. This allows upgrades, key management, adding/removing consensus members, and other operational tasks to be performed in a trusted and authenticated manner (ie, operations performed with Byzantine trust guarantees by a set of untrusted operators). Together, these approaches will provide enterprise customers with rich, yet easy-to-use governance capabilities tailored to their enterprise needs.
The beta supports standard Ethereum APIs, commonly used development tools such as Truffle, Hardhat, Remix, Web3j, Ethersjs and wallets like MetaMask and Fireblocks to enable a seamless developer experience. To get started quickly, Solidity developers can deploy the new VMware Blockchain for Ethereum Developer Kit on a local machine or in a Linux VM on any cloud platform.
Join the Beta Program
(1) The next beta release of VMware Blockchain for Ethereum is expected in Q4 FY23 VMware.