WEF Report: Blockchains early to be implemented at corporate level

   According to the latest report of the World Economic Forum (WEF), most of the blocks cannot interact with each other, so it is too early to implement the technology at the corporate level.

On April 9, the WEF published a report on the interaction between different clusters as part of a study on the application of distributed registry technology (DLT) in supply chains. The study was conducted jointly with Deloitte, a major audit firm.

The problem of interaction of open blockages has been studied for many years: crosschecks, sidchecks, etc. appear. However, the study found that most blockage compatibility solutions focus on only two open networks - Bitcoine and Etherium.

As for the interaction of managed blocks, it is much more difficult to implement this initiative, but at the same time it has more prospects. VEF believes that this issue has been little studied by developers, and the blockchain is not yet "ripe" for implementation at the corporate level.

The report mentions several projects working in the blockchain industry that deal with compatibility issues, such as Cosmos and Polkadot. However, their systems are only used for managed blockades. None of these projects have yet been able to provide a solution to enable interoperability with other platforms that are not based on Bitcoin and the Etherium.

The Organization noted that Microsoft has made significant progress in this area, which has "matched up" with major technology companies IBM, SAP and ORACLE.

In 2018, Microsoft integrated its Azure technology into the Nasdaq financial exchange structure, which allowed using different blockades through one common interface. WEF added that the Hedera Hashgraph service also has a chance to ensure effective interaction between the blocks.

VEF and Deloitte concluded that despite the huge variety of projects that create services for the compatibility of different blockades, developers still have a lot of work to do. Mass implementation of the technology will only happen when such solutions are thoroughly studied and developed.

Recall that in November last year, the co-founder of the Etherium and CEO of Consensys Joseph Lubin expressed the hope that the cryptocurrency of the Central Bank of China will be compatible with open blocs, including the Etherium.