Monax

Monax
Limited Company
Industry

Blockchains

Smart contracts
Founded June 2014
Headquarters United Kingdom
Key people
 Casey Kuhlman (CEO), Jan Hendrik Scheufen (CPO), Nina Kilbride (CCO), Silas Davis (CTO)
Number of employees
 17 (2018)
Website monax.io

Monax Industries Limited, known as Monax, is a contract lifecycle management platform. The company was founded in 2014[1] (then Eris Industries, rebranded to Monax in October 2016[2]). The company has offices in Edinburgh, London and New York.[3]

Products

Monax's product is a contract lifecycle management platform that uses blockchain, smart contracts and business processes to manage the contracts.

History

Monax provided a free and open-source[4] platform to assist developers to build, ship and run blockchain and smart contract-based applications for business systems and processes, known as eris-db, which was the first blockchain client in the market with a permissionable blockchain design, currently contributed as Hyperledger Burrow[5][6]. Monax included a reimplementation of the Ethereum Virtual Machine;[7][8][9] the company also sold smart contract software development kits (SDKs)[10][11][12] and support services[13] to firms investigating the applications of blockchain and distributed ledger technology.

Name

The word "monax" is part of the binomial name for a groundhog (marmota monax). The company uses a logo of a groundhog[14] and employees and community members are often referred to as "marmots."[15]

Impact and users

Monax's technology has a database-centric, rather than cryptocurrency-centric, approach to blockchain technology.[16][17][18]

Their software is used by 40 member banks of the R3 distributed ledger consortium.[19][20][21][22]

In November 2016 SWIFT, an 11,000-member financial market infrastructure provider, announced two blockchain prototypes, automating a corporate bond and ISO 20022 messaging, both using Monax's software.[23][24][25]

In February 2017, Monax joined[26] the Hyperledger project and its submission, co-sponsored by Intel, was accepted in April 2017.[27][28][29][30][31][32][33]

In March 2017, Monax joined the Enterprise Ethereum Alliance[34] connecting Fortune 500 enterprises, startups, academics and technology vendors.

In April 2018, Monax launched the Agreements Network that would be cofounded with 11 Blockchain and Law Firms[35][36][37][38][39][40].

References

  1. ↑ Irrera, Anna (2015-09-30). "Meet the new kids on the blockchain". efinancialnews.com. Financial News. Retrieved 14 December 2016.
  2. ↑ Del Castillo, Michael (2016-10-12). "Double Standards: The Coming Push for Blockchain Interoperability - CoinDesk". CoinDesk. Retrieved 2016-12-14.
  3. ↑ Macheel, Tanaya (11 August 2015). "Fintech Startup Fights Trademark Claims From Firm Tied to Rival". American Banker. Retrieved 20 December 2016.
  4. ↑ Ehsani, Farzam. "Blockchain in Finance: from Buzzword to Watchword in 2016". coindesk.com. Coindesk. Retrieved 20 December 2016.
  5. ↑ "Hyperledger Burrow - Hyperledger". Hyperledger. Retrieved 2018-09-11.
  6. ↑ "Hey - You got your Ethereum in my Hyperledger! - Hyperledger". Hyperledger. 2017-04-10. Retrieved 2018-09-11.
  7. ↑ Behlendorf, Brian. "Hey – You got your Ethereum in my Hyperledger!". hyperledger.org. The Hyperledger Project hosted by the Linux Foundation. Retrieved 12 April 2017.
  8. ↑ Rizzo, Peter (2015-08-02). "Eris COO: Private and Public Blockchains Need to Co-Exist". CoinDesk. Retrieved 2016-12-14.
  9. ↑ Lewis, Anthony (2016-02-18). "In a nutshell: Eris (Epicenter Bitcoin interview – Jan 2016)". Bits on blocks. Retrieved 2016-12-14.
  10. ↑ Allison, Ian (16 December 2016). "Barclays gets into the nuts and bolts of Smart Contract Templates". ibtimes.co.uk. International Business Times. Retrieved 16 December 2016.
  11. ↑ Braine, Dr. Lee; Bakshi, Vikram A.; Clack, Dr. Christopher D. (15 December 2016). "Smart Contract Templates: essential requirements and design options" (PDF). Barclays Bank plc. Retrieved 16 December 2016.
  12. ↑ Bradbury, Danny (2016-10-11). "Blockchain seeks to squeeze out all the lawyers". E&T Magazine. Institution of Engineering and Technology. Retrieved 14 December 2016.
  13. ↑ Kuhlman, Casey. "Monax's First Two Product Lines: Premium Support and SDKs". Monax. Retrieved 2016-12-14.
  14. ↑ Rizzo, Peter. "Eris COO: Private and Public Blockchains Need to Co-Exist". Retrieved 19 May 2017. How seriously should you take a company with a marmot named Doug for a mascot? That has been the subject of debate surrounding Eris Industries and its blockchain solutions platform for some time.
  15. ↑ Del Castillo, Michael. "Monax to bring Ethereum Tech to Hyperledger Blockchain Group". Coindesk.com. CoinDesk. Retrieved 12 April 2017. (Monax's) group of followers is known as the 'Marmot Den'.
  16. ↑ Reutzel, Bailey (2015-03-26). "Bitcoin tech - minus Bitcoin currency - could make big banks bite". paymentssource.com. Payments Source. Retrieved 14 December 2016.
  17. ↑ Adinolfi, Joseph (2015-07-01). "The technology behind Bitcoin is being used in surprising ways". marketwatch.com. Dow Jones. Retrieved 14 December 2016.
  18. ↑ Rizzo, Peter (2 August 2015). "Eris COO: Private and Public Blockchains Need To Co-Exist". CoinDesk.com. CoinDesk. Retrieved 23 December 2016. Eris has evolved to become one of the more novel projects in the blockchain space in terms of its operating thesis, officially launching in December with a goal toward a "1.0 release" this summer. In its short history, Eris has made a point to trumpeting its belief that bitcoin should be thought of as a shared software database, not as a network for sending money or value. In the process, it has successfully highlighted the evolving debate regarding how the technology and its capabilities should be conceptualized and articulated to the public.
  19. ↑ Higgins, Stan (3 March 2016). "40 Banks Trial Commercial Paper Trading in Latest R3 Blockchain Test". Coindesk.com. CoinDesk. Retrieved 16 December 2016.
  20. ↑ Allison, Ian (2016-03-03). "R3 completes trial of five cloud-based blockchain technologies with 40 banks". International Business Times UK. Retrieved 2016-12-14.
  21. ↑ Nash, Kim (2016-03-02). "Key Blockchain Vendors, Cloud Providers Square Off in Major Test". wsj.com. The Wall Street Journal. Retrieved 14 December 2016.
  22. ↑ Kelly, Jemima (2016-03-03). "40 big banks test blockchain-backed bond trading system". reuters.com. Reuters. Retrieved 14 December 2016.
  23. ↑ Del Castillo, Michael (2016-12-14). "Swift's Global Head of Banking Argues Blockchain Isn't a Disruption - CoinDesk". CoinDesk. Retrieved 2016-12-14.
  24. ↑ Finextra (2016-11-24). "SOFE Berlin: Swift unveils blockchain proof-of-concept". Finextra Research. Retrieved 2016-12-14.
  25. ↑ Del Castillo, Michael. "Swift is Building a Blockchain App to Optimize Global Cash Liquidity". Coindesk.com. CoinDesk. Retrieved 12 April 2017.
  26. ↑ Allison, Ian. "Bank of England and China Merchants Bank join Hyperledger Project". ibtimes.co.uk. International Business Times. Monax joining (the Hyperledger Project) was particularly notable to blockchain watchers as it means that Ethereum technology will be brought within the project under the Apache 2.0 licence.
  27. ↑ Allison, Ian. "Monax Brings Ethereum Technology to the Hyperledger Project". ibtimes.co.uk. International Business Times. Retrieved 12 April 2017.
  28. ↑ Del Castillo, Michael. "Monax to bring Ethereum Tech to Hyperledger Blockchain Group". Coindesk.com. CoinDesk. Retrieved 12 April 2017. Monax’s admission to the consortium makes it the first to also submit a codebase with an ethereum virtual machine, the component that handles state computation on the public ethereum blockchain.
  29. ↑ "Hyperledger Projects". hyperledger.org. The Linux Foundation. Retrieved 13 April 2017.
  30. ↑ Keirns, Garrett. "Monax Adds Blockchain Code to Hyperledger GitHub Repository". Coindesk. Coindesk. Retrieved 12 April 2017.
  31. ↑ Manning, Jim. "Hyperledger Absorbs the Ethereum Virtual Machine via Monax". ETHNews. Ethereum News. Retrieved 12 April 2017.
  32. ↑ Behlendorf, Brian. "Hey – You got your Ethereum in my Hyperledger!". hyperledger.org. The Hyperledger Project hosted by the Linux Foundation. Retrieved 12 April 2017.
  33. ↑ Weare, Kent. "Hyperledger Steering Committee Approves First Ethereum Project". InfoQ.com. InfoQ. Retrieved 9 May 2017.
  34. ↑ "Members - Enterprise Ethereum Alliance". Enterprise Ethereum Alliance. Retrieved 2018-09-11.
  35. ↑ Hansen, Sarah. "11 Companies Join 'Agreements Network' To Develop Ethereum Platform For Lawyers". Forbes. Retrieved 2018-09-11.
  36. ↑ "https://www.bizjournals.com/washington/prnewswire/press_releases/Washington/2018/07/26/NY63804?ana=prnews". www.bizjournals.com. Retrieved 2018-09-11. External link in |title= (help)
  37. ↑ "Blockchain's Legal Agreements Network Makes A Case For Contracts - BlockTribune". BlockTribune. 2018-07-26. Retrieved 2018-09-11.
  38. ↑ "Monax Forms 'Agreements Network' Legal Services with 11 Blockchain and Law Firms". BitcoinExchangeGuide. 2018-07-27. Retrieved 2018-09-11.
  39. ↑ "Law Firms, Tech Companies, Join Forces to Help Launch Blockchain-Based Smart Contracts Platform | LawSites". LawSites. 2018-07-26. Retrieved 2018-09-11.
  40. ↑ "BakerHostetler, LexPredict and Others Partner to Develop Blockchain 'Middle Layer' | Legaltech News". Legaltech News. Retrieved 2018-09-11.
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