Aesthetic Integration, A London based company specialized in “formal verification” to discuss security and justice algorithms in financial markets, made an announcement about the recent launch of Imadra contracts, these are a solution to the company refers to as the world’s first platform through formal verification for blockchain supported by smart contracts.
This announcement was made in the Devcon2 conference as part of the International Week Blockchain in Shanghai. With contracts Imadra advances in artificial intelligence, mathematics and and information with the intention to bring an improvement in the financial, electronics and other industries markets. All this thanks to the transparency granted to the development of smart contracts.
Aesthetic Integration executive co-chairman and co-founder Dr. Grant Passmore, said in a recent interview:
“Imandra is a tool for analyzing smart contracts to help individuals understand what they do, why they do it, and what can possibly go wrong,” Dr. Grant Passmore, Aesthetic Integration’s co-chief executive and co-founder, told CCN. “Imandra is powered by recent advances in formal verification, a field at the intersection of computer science, mathematics and artificial intelligence focused on reasoning about the possible behaviors of algorithms.”
The cloud-based platform will enable users to identify and correct irregularities that may arise in financial systems. On the other hand it will allow companies to protect themselves from negative impacts before they are executed. The privacy of each user will be fully guaranteed by the best industry practices.
Passmore said that Aesthetic Integration won the 2015 financial future UBS Challenge for the use of Imandra in the analysis of regulatory properties of dark backgrounds. “Imandra Contracts brings these techniques to blockchain smart contracts for the first time, all available in the cloud,” He also added that Imadra is already being used in some investment banks to discuss justice and security of its financial algorithms.
“We’re developing versions of Imandra Contracts for many blockchain smart contract platforms. However, we began with Ethereum as its virtual machine is well specified (i.e., the Ethereum yellow paper) and, given recent events, the Ethereum community has strongly recognized the need for formal verification.” Passmore said.
With this platform, users can check designs and algorithms of hiring, this includes those who are staying in smart decentralized as private, but have to deal with smart contracts and its applications as Ethereum. With the afore said this can ensure they meet the agreed specifications and do not contain unwanted interference.
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