Cardano parent company IOHK is developing a suite of products for decentralized finance (DeFi) called Marlowe.
In a blog post that begins by relating flawed experiences with traditional financial services, IOHK announced they are developing Marlowe. In creating this decentralized finance (DeFi) project, they seek to democratize finance through facilitating peer-to-peer agreements on a blockchain.
Marlow is set to allow users to build their own financial instruments and set up agreements with anyone with whom they want to interact. The suite will serve developers, retail end users, and enterprise users.
First, Marlowe for developers will include Marlowe Build and Marlowe Play, as well as the input to the Marlowe Library. The first two together enable end-to-end financial smart contract development. Developers can use Marlowe Build to compose smart contract code.
They can then formally verify and test the smart contracts on Marlowe Play. After the smart contracts are built and tested, developers can contribute them to the open-source smart contract Marlowe Library.
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