Press Release: Monax Industries Releases First Business Process Engine Run Entirely Via Smart Contracts

LONDON – September 25, 2018 – Monax Industries, a leader in open-source blockchain technology, released the first business process engine written entirely in Solidity smart contract language

LONDON – September 25, 2018 – Monax Industries, a leader in open-source blockchain technology, released the first business process engine written entirely in the Solidity smart contract language. The firm also announced a high-level API that allows users to input standardized Business Process Model Notation (BPMN) files and translate them into suitable instructions that can be operated by the full-featured and extensively-tested smart contract-based engine.

“We are excited to announce the release of this engine” stated Casey Kuhlman, CEO of Monax.“A myriad of blockchain use cases rely on modeling business processes and operating those with network consensus. With the release of this engine, Monax makes the endeavour extremely simple and user-friendly while increasing accessibility.This continues our work over the last four years of significantly advancing the business utility of blockchain software.”

Utilizing the engine, which is part of a release named Blackstone that includes over 19,000 lines of Solidity code, users can build a variety of blockchain-specific products without needing to necessarily write code themselves. Instructions given via a BPMN model enable the reliable orchestration of human resources, on-chain scripts and off-chain legacy systems across companies within an ecosystem. Monax is leveraging this engine as a core component of the Agreements Network, an open blockchain ecosystem for the creation, distribution and operation of legal agreements, which is redefining how legal products and services support the networked economy.

The Agreements Network, with its business process engine at the center, will transform the delivery of legal services and promote productization of law. With the growth of the networked economy, devices and digital commerce, legal functions need to be embedded within the software driving transactions. The open-source nature of blockchains and standards like BPMN support the evolution of a framework for building broad access to legal tools, products and services to achieve business goals and objectives.

Using the Network, lawyers and companies can design and operate contracts to perform legal jobs, such as contract management and collecting, storing and proving evidence. The Network’s legal reference layer is a new tool for tracking important information like chain-of-custody for assets and also supports the creation of new products that will disrupt legal contracting for years to come.

About Monax Industries

Monax Industries was co-founded in 2014 by Casey Kuhlman. The firm built a market-leading, free and open-source universal blockchain platform on which anyone can construct their own secure, low-cost, run-anywhere applications using blockchain and smart contract technology. In April 2018, Monax became one of the founding companies behind the Agreements Network, a decentralized blockchain-powered contract management platform for small and medium enterprises. The Network allows anyone to develop, customize, sell and reproduce legal products. Monax is headquartered in London and has offices in Edinburgh and New York. For more information, visit: https://monax.io.

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