The acquisition represents the fourth blockchain startup purchased by the New York-based Digital Asset. In the past year, Digital Asset has moved to acquire startups Hyperledger, Bits of Proof, and Blockstack.io.
Founded in 2015, Zürich-based Elevence has been working to write a coding language specifically designed to model and execute financial agreements using a distributed ledger, while at the same time giving parties involved more control over who can see the information provided.
Earlier this year, Banking consortium R3CEV announced its own distributed ledger platform, dubbed Corda, which the company described as being built from the ground up with user privacy in mind. At the time, R3 sought to distinguish its new platform from blockchain, the distributed database that underlies Bitcoin and other digital currencies.
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