A group of finance and tech companies, including Microsoft and Goldman Sachs, are developing a new blockchain network called Canton Network. The network aims to provide privacy-enabled interoperability for institutional assets and synchronize previously siloed financial markets. Testing of the network's capabilities, which include extensive privacy controls and scalability for major financial institutions, will begin in July. Other participants in the project include BNP Paribas, Digital Asset, Paxos, Deloitte, and Cboe Global Markets. The network is built on Digital Asset's smart-contract language, Daml, which creates an interoperable system for assets, data, and cash.