Informative Description of Daml Relevance to Business

Still working my way through the SDK documentation, and I found this excellent section on the relevance and core strengths of Daml to modern Business.

It takes two to tango, but one party has to initiate. There is no difference in business world. The contractual relationship between two businesses often starts with an invite, a business proposal, a bid offering, etc.

Invite: When a market operator wants to set up a market, they need to go through an on-boarding process, in which they invite participants to sign master service agreements and fulfill different roles in the market. Receiving participants need to evaluate the rights and responsibilities of each role and respond accordingly.

Propose: When issuing an asset, an issuer is making a business proposal to potential buyers. The proposal lays out what is expected from buyers, and what they can expect from the issuer. Buyers need to evaluate all aspects of the offering, e.g. price, return, and tax implications, before making a decision.

The Initiate and Accept pattern demonstrates how to write a Daml program to model the initiation of an inter-company contractual relationship. Daml modelers often have to follow this pattern to ensure no participants are forced into an obligation.

This section oddly enough, made sense of why & how the Daml Model works in real world application like financial products, tradeable assets and service contracts :+1:t2:

Ref: DA_Daml_SDK.pdf, Section, Motivation, Page 217.

1 Like

Yup, you’ll find that a lot of our patterns reduce down to basic real world applications

1 Like

@quidagis you may find this blog post that @soren wrote in 2018 interesting

PS I saw a lot of the links in the post are broken, we’ll fix that but in the meantime if you want to follow the links you can simply Google the title

1 Like

Thank you for the reference, it looks comprehensive. So many hyperlinks throughout, like something I would do. What are hyperlinks for if not to inform? :grinning:

1 Like