Accenture develops two blockchain integration solutions

Accenture announced it developed and tested two blockchain solutions that that enables integration between two or more blockchain-enabled ecosystems.

The development in the growing area of blockchain technology solves what Accenture calls “a critical challenge” for the broad adoption of blockchain.

According to a news release by the company, the two solutions show integration capabilities with blockchain platforms from Digital Asset, R3, Hyperledger Fabric and Quorum to securely orchestrate business processes. 

The company’s announcement explained that the solutions 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.

Accenture explained that the solution enables integration between different blockchain platforms two ways. 1. It allows the transfer of a tokenized asset on two blockchain platforms. And 2. It allows data mapping to different blocks that exist in two different blockchain platforms simultaneously with the reference data kept in constant sync.

“This 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 David Treat, Accenture’s managing director and global blockchain lead.

“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,” Treat added.

As the popularity of blockchain and other ledger technology applications grow, so does the need for widespread integration with other similar ledgers. Accenture explained in its press release, they have included an interoperability node, which includes “embedded business logic that contains the business standards, policies and guidelines by which the different blockchain platforms have agreed to work together.”

“We have said right from the beginning that interoperability is key to avoiding the trapped assets and silos of the past. We made specific design choices when building Corda to ensure that applications built on our platform can interoperate without friction,” said Richard Gendal Brown, chief technology officer at R3. “The successful testing of these technology solutions is a significant step forward for blockchain development and validates our approach.”

Published on: 2018-10-22 22:52:28

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