SIA, a European fee companies enterprise, and U.Okay.-based know-how firm Quant Community efficiently examined cross-blockchain interoperability between totally different protocols, SIA mentioned.
SIA and Quant Community first introduced their partnership on June 5. Their goal is to work on cross-platform purposes and companies for banks and monetary establishments. The partnership goals to combine Quant Community’s blockchain working system Overledger into SIA’s SIAchain infrastructure and allow interoperability. It hopes to deliver options to challenges that monetary establishments are going through with blockchain integration.
Each companies had been capable of combine Overledger know-how inside SIAchain and bridge permissioned blockchain actions. SIA mentioned this permits for cross-platform purposes akin to notarization, funds, and know-your-customer or KYC companies.
Further testing is now ongoing on SIAchain, R3’s Corda, and personal Ethereum networks. Quant Community and SIA goal to deliver this cross-blockchain answer to the market and search for additional use instances.
SIAchain is a personal infrastructure leveraging 570 European community nodes inside SIAnet. It helps monetary establishments, corporates and public administration our bodies in growing and implementing modern purposes primarily based on blockchain know-how.