SETL open sources its PORTL framework

Enterprise blockchain firm SETL is open sourcing its core framework PORTL, in an effort to speed up adoption of blockchain and

DLT solutions. PORTL is said to provide a robust, permissioned toolset for financial institutions to build applications that interoperate between existing infrastructures and a range of enterprise ledger technologies including Corda, Besu, Fabric, DAML and SETL’s own high-performance ledger.

The adoption of DLT in financial services has been slow in spite of the tremendous potential the technology has to offer. Many of the reasons lead back to a lack of understanding of secure deployment procedures for banks, where the high levels of IT security that banks expect stands in contrast to the innovation-first approach taken by some blockchain frameworks.

Philippe Morel, SETL CEO said, “The potential of DLT solutions is still significantly underexploited. With our open source and fully interoperable PORTL framework, we hope to contribute to a wider adoption of DLT-based solutions.”

SETL provides institutions with tools they need to take DLT and blockchain into production. To ease integration with existing systems, SETL has adopted Kafka, the open source, high volume event engine as its main backbone for inter-process communication.

“Our use of high capacity and battle-hardened components such as Kafka and Camunda is in line with the technology journey financial institutions are taking. PORTL bridges the gap between ledger innovation and business integration allowing the true benefits of DLT to make the jump from POC to live operation,” Morel added.