On Monday, Accenture Plc (NYSE:ACN) has introduced a new interoperability node for blockchain customers at an annual Sibos Conference. The new interoperability solution allows connecting different enterprise platforms like Digital Asset (DA), Quorum, R3’s Corda, and Hyperledger Fabric.
The new solution allows connecting business logic of various blockchains. The Global Blockchain lead of Accenture, David Treat said the company has successfully completed bridging Quorum and Hyperledger fabric. It has applied the same architecture to connect DA and R3 Corda. In the nutshell, it provides communication between different distributed ledger technology platforms. The new solution consists of policies, standards, and guidelines that allow different blockchain platforms work together.
New Interoperability Solution Allows Connecting New Use Cases – Supply Chain, Insurance and Trade Finance
Accenture is making efforts to meet the needs of connectivity between different use cases like insurance, trade finance, and supply chain that are working on the same platform. It allows the customers to work with another system on a different platform. For instance, a supply chain ecosystem, which is developed on one platform, can seamlessly work with the trade finance system developed on another platform.
Some Blockchains Perform Better
Some blockchains are performing better than others. But, the new interoperability solution accounts for the difference in latency. For example, some sit on the Enterprise Ethereum Alliance and another on Hyperledger. The new solution compensates between the latency and allows seamless operation. David Treat said a different logic is applied to ensure connectivity between reference data, tokenized assets, and shared data that sits on different blockchain platforms like R3 Corda and Quorum.
Accenture is working to ensure interoperability between more than four blockchain platforms to spread and share the load. CTO of R3, Richard Gendal Brown said the interoperability solution is developed to prevent trapped assets. According to Brown, specific design changes are implemented when developing Corda so that applications developed on this platform can seamlessly work with applications on another platform.
Brief Information about Accenture
The global tech giant, Accenture is engaged in solving the toughest challenges faced by the customers. The company provides unmatched services in digital, consulting, strategy, operations and technology. It partners several prominent fortune 500 companies to improve the lives and work worldwide.