Vodafone’s Digital Asset Broker (DAB) platform, together with Sumitomo, Chainlink Labs and InnoWave, has successfully tested a proof of concept for cross-blockchain data transfer. The pilot project focused on the seamless exchange of trade documents between different platforms and blockchains.
Document sharing is often complicated by a fragmented system, especially when platforms are poorly compatible with each other and operate in different sectors of international trade. The Cross-Chain Interoperability Protocol (CCIP) has enabled interoperability between Internet of Things (IoT) devices. This protocol allows applications to securely exchange data and tokens on public and private blockchains, as well as IoT networks.
For example, a ship on which a cargo fire occurred will be able to autonomously transmit data to smart contracts via the DAB platform and the CCIP protocol. This will help quickly track and share data. Companies will continue to explore the viability of cross-border trade and data sharing applications using the DAB Economy of Things (EoT) platform. According to the developers, the capabilities of this platform can also be used to speed up the processing of financial transactions.
Image: CoinsPress
