Use of DLT grows beyond fintech

Image for post
Image for post

Distributed ledger technology (DLT) appears to be getting more mainstream, as businesses increasingly use the technology for anything from logistics to data storage. Now, Accenture, the global professional services firm, has just launched a software licence management app built with Digital Asset’s distributed ledger technology.

In a press release on 12 November, Accenture announced that the blockchain-based app uses Digital Asset’s smart contract language, DAML, and its purpose is the simplification of how its software licences are tracked. An Accenture representative told Coindesk that the app is “one of the first blockchain solutions built by Accenture and the first to go into production within the Accenture Operations group.”

Accenture manages a large portfolio of software licences across different businesses and clients internationally. Melanie Cutlan, Accenture’s senior principal and lead for blockchain operations said: “While software asset tracking and management tools have evolved, it can still be a daunting task for any large organisation to manage,” and added that DLT supported Accenture’s need for a technology that supported policies and procedures.

The new blockchain-based application is expected to help Accenture improve the management lifecycle for its software assets, as well as simplify tracking and auditing. Cutlan explained: “The power of DLT will simplify the traceability of these licences and, therefore, the auditing function so all can see where each licence is assigned. This has the potential to save organisations millions of dollars per year in the management of their software licence portfolios.”

The new app is patent-pending and it will also reduce the risk of firms using unlicensed software, or not complying with licence agreements. Chris Church, chief business development officer at Digital Asset, said in the press release: ““This new software asset management application shows that DAML and DLT can deliver significant operational efficiencies to use cases beyond financial services.”

Written by

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store