Digital Asset announces acquisition of fourth blockchain startup Elevence, including its assets and senior personnel

Digital Asset Holdings Inc. has announced that it has acquired the assets and senior leadership of Zurich, Switzerland-based technology startup Elevence.

Elevence CEO Vincent Peikert will lead the digital asset company’s Swiss office as the company’s European product director. In addition, Elevence CTO James Litsios will serve as head of Swiss development. Terms of the talent acquisition have not yet been announced.

In a statement released on Digital Asset’s website, Digital Asset CEO Blythe Masters said she believes Elevence’s eight-person team will fit right into the company.

Blythe Masters

Mast said:

“The Digital Asset Platform is purpose-built to address financial services applications that require automation, privacy, and immutability.”

Elevence is the fourth blockchain startup acquired by Digital Asset, which has acquired Hyperledger, Bits of Proof and Blockstack.io in the past year.

Focus on privacy

Founded in 2015, Zurich-based Elevence has been working on a coding language specifically designed to model and execute financial agreements using distributed ledgers, while giving interested parties greater control over who can see the information provided.

According to a company announcement, Elevence has developed a modeling language for expressing “certain rights or obligations” including cash, securities and derivatives. The company’s code defines the considerations of each party to determine how the contractual relationship changes over time.

Digital Asset explained:

“This approach provides parties with a unified view of current and future rights and obligations on a need-to-know basis, rather than revealing confidential information as would be the case with a smart contract system.”

Blockchain or distributed ledger?

The April 20 announcement provides more evidence of an industry-wide shift away from the term “blockchain” and toward “distributed ledger.”

Earlier this month, R3CEV announced its own distributed ledger platform, Corda, which the company said was built with user privacy in mind. At the same time, R3 sought to distinguish its new platform from blockchain, the distributed database underlying bitcoin and other digital currencies.

Likewise, the term “distributed ledger” rather than “blockchain” was used in five of the digital asset’s official announcements.

Original article: http://www.coindesk.com/digital-asset-acquires-elevence/
By Michael del Castillo
Compiled by: Kyle
Source (translation): Babbitt Information (http://www.8btc.com/digital-asset-acquires-elevence)