SIA, a European fee companies enterprise, and U.Okay.-based expertise firm Quant Community efficiently examined cross-blockchain interoperability between completely different protocols, SIA said.
SIA and Quant Community first announced 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 convey options to challenges that monetary establishments are dealing with with blockchain integration.
Each companies had been capable of combine Overledger expertise inside SIAchain and bridge permissioned blockchain actions. SIA mentioned this enables for cross-platform purposes akin to notarization, funds, and know-your-customer or KYC companies.
Extra testing is now ongoing on SIAchain, R3’s Corda, and personal Ethereum networks. Quant Community and SIA goal to convey this cross-blockchain resolution to the market and search for additional use instances.
SIAchain is a non-public infrastructure leveraging 570 European community nodes inside SIAnet. It helps monetary establishments, corporates and public administration our bodies in growing and implementing revolutionary purposes based mostly on blockchain expertise.