Vodafone’s Digital Asset Broker (DAB) platform, together with Sumitomo, Chainlink Labs and InnoWave, has successfully tested a proof of concept for cross-blockchain data transfer. The pilot project focused on the seamless exchange of trade documents between different platforms and blockchains.
Document sharing is often complicated by a fragmented system, especially when platforms have poor compatibility with each other and operate in different sectors of international trade. The Cross-Chain Interoperability Protocol (CCIP) has enabled interoperability between Internet of Things (IoT) devices. This protocol allows applications to securely exchange data and tokens on public and private blockchains, as well as on IoT networks.
For example, a ship on which a cargo fire has occurred will be able to autonomously send data to smart contracts via the DAB platform and the CCIP protocol. This will help track and share data quickly. Companies will continue to explore the feasibility of cross-border trade and data sharing applications using the DAB Economy of Things (EoT) platform. According to the developers, the capabilities of this platform can also be used to speed up the processing of financial transactions.
Image: Coin press
