The revolution was Btc, a peer to peer cash system with no borders, near instant remittance and anonymity.
Nothing beats that, and anything else is an imitation.
But we are in 2022 now, and the scope for the technology termed blockchain is alot wider now.
The advance of the technology over the years brought ethereum and more, and birthed the concept of smart contracts and dApps into the scene, followed by other ecosystems Avalanche cosmos - BNB etc.
With this it brought a world of DeFi.
Many networks and many ecosystems.
With all these different choices in mind begun the necessity of interoperability.
Not only has there been all these public blockchains, but also enterprise permissioned blockchains like Hyperledger projects corda quorum etc.
There's a need for both pub and private, and also hybrid networks aswell.
Multichain applications, with protocol agnostic ability.
A quick video of the CEO from Quant Network pictured above.
There is also a blockchain ISO standard TC307 spearheaded by the same CEO, Gilbert.
After over half a decade and 8 published standards to date with more being worked on.
And early workings with ISO20022 with entities like Hyperledger IBM DTCC
In addition to the SATP Secure Asset Transfer Protocol, previously ODAP, workings at the IETF with many participants like IBM Intel MIT etc.
All this work brings protocol agnostic multichain applications, like from partners SIA and the application built Spunta with corda - ethereum interoperability.
Spunta is built on SIAs blockchain platform SIACHAIN, Also ABILABCHAIN a whitelabel version which is being used in the early Digital Euro prototypes.
And more recently, the aquirer of SIA, NEXI being selected as a participant of the Digital Euro.
While on the topic of partners, both oracle and lacchain work with quant on the Regional Distributed Ledger Network - LACCHAIN with the IDBLAB.
"Using Digital Currencies to unlock a continent"
The Latin American Dollar. Qnt
With this support from Oracle, what is being built is the forefront of innovation and inclusion for entire populations to have equal access to roaming digital currency FNALITY and self sovereign identity.
LACCHAIN is based off above standards, like TC307 ETSI ITU
Their are additional regional networks like BSN, Alastria EBSI.
Namely EBSI with its ESSIF and eidas2 work for Self Sovereign Identity.
These standards are driving top work in innovation for real use cases at scale for SSI in high level government, and they run on private
Hyperledger Fabric, Besu and more.
They are being built with the offering public and permissioned networks as pictured below, as there as a necessity for hybrid networks, and also future proof interoperability so there is no lock in for applications built.
This brings me to the work cheqd Cheq are specifically doing on VC verifiable credentials and DID decentralised identifiers-which are the basis of these frameworks for the future of W3C standards
They've recently demo'd the ability to abstract a leading credential AnonCreds
This work has actually been picked up by the chewd community, and had a successful governance vote on funding the animo work with cheqd to build out this aim to abstract anoncreds from being largely hyperledger indy bound.
Ledger agnostic anoncreds. cheq
This had also attracted the attention of Hyperledger Foundation - and they are also supporting the work from cheqd - animo. Massive. 🔥
You can view the Hyperledger Anoncreds HIP (Hyperledger Improvement Project) here. 👇
All in all, we should be painting a picture that there's a necessity for absolute frictionless interoperability to enable user centric driven models to allow maximum portability and choice for the user to own their data and move it as chosen. Cheq Qnt
I have skimmed alot, maybe you're already quamfy or chemfy.
Or maybe you've only just entered the space, and if so I recommend to DYOR.
The total addressable market for interoperability and SSI is unmeasurable, it is every human, 8 billion people.
I am throwing in a bonus round for allianceblock who are building in-between all of this to achieve CeDeFi. Albt
Don't underestimate the Ecosystem Rachid and team are building, with their fundrs TIDV dua.
This post is based on this twitter thread.