News Accenture brings blockchain platforms together – FinTech Futures

Accenture brings blockchain platforms together – FinTech Futures

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An initiative by professional services firm Accenture will help to facilitate widespread adoption of blockchain technology.

Technologies that facilitate interoperability between two or more blockchain-enabled ecosystems

Technologies that facilitate interoperability between two or more blockchain-enabled ecosystems

It has developed technologies that facilitate interoperability between two or more blockchain-enabled ecosystems.

The technologies prove Digital Asset (DA Platform), R3 (R3 Corda), Hyperledger Fabric and Quorum can be integrated, allowing data sharing across distributed ledgers.

Accenture’s tools provide a line of communication between two or more DLT platforms. They include business standards, policies and guidelines by which the different blockchain platforms agree to work together. Integration requires the ability to audit, trace and verify data with complete security and integrity.

The technology allows for the transfer of a tokenised asset on two blockchain platforms or the mapping of data to the different blocks that exist in two different blockchain platforms at the same time. There’s no need for ongoing messaging between the platforms.

In a statement, David Treat, Accenture’s managing director and global blockchain lead said this is, “already unlocking new opportunities to bring ecosystems together”.

It’s also addressing client concerns about picking the wrong platform or having to re-build if a partner uses a different system.

Accenture says interoperability is a hot topic given the high probability of multiple DLT platforms gaining traction.

Industry analyst Gartner estimates more than 70 blockchain platforms could emerge before a period of consolidation reduces the number of players in the market.

“It’s important for our customers to know that not only does the Digital Asset Platform seamlessly integrate with their existing systems, but also has the possibility to integrate with other DLT platforms,” said Shaul Kfir, chief technology officer, head of technology architecture and innovation at Digital Asset in a statement.

Richard Gendal Brown, chief technology officer at R3 continued: “We have said right from the beginning 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. The successful testing of these technology solutions is a significant step forward for blockchain development and validates our approach.”

Accenture has said it will continue to test its technology solutions with ecosystem partners. The company has filed two patent applications for elements of the underlying technology used in the integration technology solution and expects to file additional patent applications in the near future.

By Daily News at Sibos contributor Alexandra Cain

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