Monax, officially Monax Industries Limited, is a blockchain and smart contract software technology company founded in 2014. Incorporated as "Eris Industries" and previously known as "Eris", the company changed its name to Monax in October 2016. The company has offices in Edinburgh, London and New York. Monax's product is a contract lifecycle management platform that uses blockchain, smart contracts and business processes to manage the contracts.
Monax provides a free and open-source platform to assist developers to build, ship and run blockchain and smart contract-based applications for business systems and processes. This platform was the first blockchain client in the market with a permissionable blockchain design, currently contributed as Hyperledger Burrow. Monax included a reimplementation of the Ethereum Virtual Machine; the company also sold smart contract software development kits (SDKs) and support services to firms investigating the applications of blockchain and distributed ledger technology.
Monax's technology has a database-centric, rather than cryptocurrency-centric, approach to blockchain technology.Their software is used by 40 member banks of the R3 distributed ledger consortium.In November 2016 SWIFT, an 11,000-member financial market infrastructure provider, announced two blockchain prototypes, automating a corporate bond and ISO 20022 messaging, both using Monax's software.
In February 2017, Monax joined the Hyperledger project and its submission, co-sponsored by Intel, was accepted in April 2017.In March 2017, Monax joined the Enterprise Ethereum Alliance connecting Fortune 500 enterprises, startups, academics and technology vendors. In April 2018, Monax launched the Agreements Network that would be cofounded with 11 Blockchain and Law Firms.