Blockchain Interoperability Solution Developed By Accenturebr>
Professional services giant Accenture has developed a solution that enables two or more blockchain systems to work together without changes to the platforms or introducing messaging.
For different blockchain sytems to integrate, they must preserve the ability to audit, trace and verify data elements with complete security and integrity. Accenture’s integration solution solve this challenge by establishing a trusted ‘interoperability node’ that sits between the target blockchain systems. The interoperability node includes embedded business logic that contains the business standards, policies and guidelines by which the different blockchain platforms have agreed to work together. It enables integration between the different blockchain platforms by either allowing for the transfer of a tokenized asset on two blockchain platforms or allowing mapping of data to the different blocks that exist in two different blockchain platforms at the same time.
Accenture claims that the integration solution can connect the four major enterprise platforms: Hyperledger Fabric; R3’s Corda; Quorum, developed by global bank JPMorgan Chase; and Digital Asset (DA). It added that the solution demonstrated it could actively share data and information across distributed ledgers, proving that integration is possible across the growing number of blockchain and distributed ledger platforms in the market.
David Treat, managing director and Global Blockchain Lead, Accenture, said that the solution is a game-changer that can help accelerate adoption of blockchain technology.
“The key challenge was to develop the ability to integrate without introducing ‘operational messaging’ between distributed ledger technology platforms in order to stay true to the principles and benefits of blockchain technology,” said Treat. “Applying this capability with our clients is already unlocking new opportunities to bring ecosystems together, mitigating key concerns about picking the ‘wrong’ platform or having to re-build if one partner uses something different.”
According to Accenture, the solution will eliminate the need for ongoing messaging between different platforms and makes it possible to transfer and maintain an “active state” between the nodes of the separate blockchain platforms, keeping them synchronized.
“Business is conducted across multiple ecosystems and, in many instances, we’re seeing these ecosystems align to “fit-for-purpose” platforms,” said Emmanuel Viale, managing director, Accenture Labs. “But for blockchain to achieve its full potential these different platforms must interact seamlessly with each other, and our technology solutions show that this is possible — while still delivering the security and transparency benefits that blockchain offers. This is a crucial step to ensure that growth and innovation continue with this dynamic technology.”
Accenture’s near-term goals are to continue to test the solution’s effectiveness with each of the leading blockchain platforms and work with clients and partners to expand the possibilities for cross-industry/cross-process collaboration.