Accenture Promotes Utopia Of Blockchain Interoperability

Cryptocurrencies notwithstanding, blockchain itself is staring at mass adoption in the near future. Companies are coming up with ways to go around the existing hurdles that prevent onboarding of the technology. Accenture is the latest to bring two solutions that help in integrating major blockchain platforms so that they work in harmony.

According to a press release, the solutions will facilitate interoperability of two or more blockchain platforms. Further, Accenture developed an interoperability node that will act as the link between the platforms. The node establishes a trusted base for integration which is all that platforms need to operate jointly.

Interoperability Node Helps To Integrate Major Blockchain Platforms

Elaborating further on their website, Accenture states:

“The basis of Accenture’s integration solution is to establish a trusted “interoperability node” that sits between the target DLT systems. This interoperability node is given the appropriate identity and access control capabilities to all in-scope DLT systems.”

Already, Accenture was able to demonstrate that blockchain platforms from Digital Asset and R3 Corda integrate seamlessly and without a hitch. The same was true for platforms from Hyperledger Fabric and Quorum. Interestingly, Accenture was also able to show that the integrated platforms could share data and information.

This is one of the biggest milestones in the nascent technology that many entities are yet to see its full potential. If Accenture was able to achieve integration of such nature, it is possible for the immutable tech to dominate, some analysts observe. Essentially, the integration finds a way to make major businesses work in a community that is self-reinforcing.

Accenture Brings Universality

David Treat, managing director and Global Blockchain Lead, notes that the solution from Accenture is a game changer. Basically, the integration helps blockchain jump a major hurdle towards mass adoption.

“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,” Treat says.

Interestingly, the new solutions are already opening up fresh opportunities to create one huge blockchain community. Further, the solutions for integrating major blockchain platforms mitigate key concerns about picking the wrong platform. Interoperability will ensure that users get the best out of blockchain as a whole regardless of the platform they use.

Since the advent of blockchain, Accenture is seriously leading the pack in terms of mainstreaming the technology. Also, other companies like IBM are coming with critical use cases and solutions focused on the tech’s ecosystem.

Risk Disclosure

This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.

Join our Telegram Group To Stay Up To Date With Crypto News