Monax

Monax, officially Monax Industries Limited, is a blockchain and smart contract software technology company founded in 2014.[1] Incorporated as "Eris Industries" and previously known as "Eris", the company changed its name to Monax in October 2016. The company has offices in Edinburgh, London and New York.[2]

For the rodent sometimes referred to as a monax, see groundhog.
Monax
Limited Company
IndustryBlockchains

Contract management

Smart contracts
FoundedJune 2014
Headquarters
United Kingdom
Key people
Casey Kuhlman (CEO), Jan Hendrik Scheufen (CPO), Silas Davis (CTO)
Number of employees
18 (2018)
Websitemonax.io

Products

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

History

Monax provides a free and open-source platform to assist developers to build, ship and run blockchain and smart contract-based applications for business systems and processes. This platform was the first blockchain client in the market with a permissionable blockchain design, currently contributed as Hyperledger Burrow.[3][4] Monax included a reimplementation of the Ethereum Virtual Machine; the company also sold smart contract software development kits (SDKs)[5][6][7] and support services[8] 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).

Impact and users

Monax's technology has a database-centric, rather than cryptocurrency-centric, approach to blockchain technology.[9][10]

Their software is used by 40 member banks of the R3 distributed ledger consortium.[11][12][13]

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.[14]

In February 2017, Monax joined[15] the Hyperledger project and its submission, co-sponsored by Intel, was accepted in April 2017.[16][17]

In March 2017, Monax joined the Enterprise Ethereum Alliance[18] 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.[19][20][21]

References
  1. Irrera, Anna (2015-09-30). "Meet the new kids on the blockchain". efinancialnews.com. Financial News. Retrieved 14 December 2016.
  2. Macheel, Tanaya (11 August 2015). "Fintech Startup Fights Trademark Claims From Firm Tied to Rival". American Banker. Retrieved 20 December 2016.
  3. "Hyperledger Burrow". Hyperledger. Retrieved 2018-09-11.
  4. "Hey - You got your Ethereum in my Hyperledger!". Hyperledger. 2017-04-10. Retrieved 2018-09-11.
  5. 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.
  6. Braine, Dr. Lee; Bakshi, Vikram A.; Clack, Dr. Christopher D. (15 December 2016). "Smart Contract Templates: essential requirements and design options". arXiv:1612.04496 [cs.CY].
  7. 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.
  8. Kuhlman, Casey. "Monax's First Two Product Lines: Premium Support and SDKs". Monax. Retrieved 2016-12-14.
  9. Reutzel, Bailey (2015-03-26). "Bitcoin tech - minus Bitcoin currency - could make big banks bite". paymentssource.com. Payments Source. Retrieved 14 December 2016.
  10. Adinolfi, Joseph (2015-07-01). "The technology behind Bitcoin is being used in surprising ways". marketwatch.com. Dow Jones. Retrieved 14 December 2016.
  11. 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.
  12. Nash, Kim (2016-03-02). "Key Blockchain Vendors, Cloud Providers Square Off in Major Test". The Wall Street Journal. Retrieved 14 December 2016.
  13. Kelly, Jemima (2016-03-03). "40 big banks test blockchain-backed bond trading system". Reuters. Retrieved 14 December 2016.
  14. Finextra (2016-11-24). "SOFE Berlin: Swift unveils blockchain proof-of-concept". Finextra Research. Retrieved 2016-12-14.
  15. Allison, Ian (28 February 2017). "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.
  16. Allison, Ian (27 February 2017). "Monax Brings Ethereum Technology to the Hyperledger Project". ibtimes.co.uk. International Business Times. Retrieved 12 April 2017.
  17. Weare, Kent. "Hyperledger Steering Committee Approves First Ethereum Project". InfoQ.com. InfoQ. Retrieved 9 May 2017.
  18. "Members". Enterprise Ethereum Alliance. Retrieved 2018-09-11.
  19. Hansen, Sarah. "11 Companies Join 'Agreements Network' To Develop Ethereum Platform For Lawyers". Forbes. Retrieved 2018-09-11.
  20. "Law Firms, Tech Companies, Join Forces to Help Launch Blockchain-Based Smart Contracts Platform". LawSites. 2018-07-26. Retrieved 2018-09-11.
  21. "BakerHostetler, LexPredict and Others Partner to Develop Blockchain 'Middle Layer'". Legaltech News. Retrieved 2018-09-11.
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