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22 March 2023
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Accenture comes with two solutions for blockchain interoperability

The consulting company Accenture has reportedly filed two new patents for techniques that should promote blockchain interoperability. This is evident from a publication published by the US Patent and Trademark Office (USPTO) on 2 April.

The first patent that Accenture filed describes how users can send cryptocurrency to each other based on cryptological blockchain interoperability. In this way, users with digital signatures could send cryptocurrency between different blockchain platforms.

The second patent filed uses smart contracts. By means of a smart contract, according to the patent, a user can enclose transaction information and an amount of cryptocurrency in a smart contract until the recipient verifies the transaction. These solutions can also be used to send cryptocurrency between different blockchain platforms.

Blockchain interoperability is seen by many experts as the holy grail. At the moment, the blockchain landscape is pretty fragmented, with different block chains that often cannot communicate with each other. As with the development of the World Wide Web, interoperability can lead to mass adoption of blockchain technology.

Both in terms of regulations and technology, the parties are working hard to find a suitable solution. For example, ConsenSys advised the European Commission that there should be standards to promote the interoperability of block chains within Europe. In addition, Loom Network tries to develop a solution that allows DApps to communicate with each other on different block chains.

Since blockchain technology is still young, large companies have been busy submitting new patents. Alibaba, for example, filed no fewer than 90 patents last year, with IBM behind it filing 89 patents.
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