Consultancy Firm Accenture Targets Enterprise Blockchain Interoperability With Fresh Tool

Global management consultancy firm Accenture revealed a new blockchain tool in a press release Oct. 22, its second in a month focusing on interoperability.

A week after announcing a supply chain partnership with Thailand’s Siam Commercial Bank, Accenture said its latest offering facilitated existing enterprise blockchain systems to integrate with one another.

Specifically, blockchain platform Digital Asset can now work in tandem with R3’s Corda platform, while Hyperledger Fabric and JPMorgan’s Quorum form another interoperable pair.

Discussing the two separate solutions, which the company has already tested, managing director and Global Blockchain Lead David Treat described them as a “game changer.”

“The key challenge was to develop the ability to integrate without introducing ‘operational messaging’ between distributed ledger technology platforms in order to stay true to the principles and benefits of blockchain technology,” he commented, continuing:

“Applying this capability with our clients is already unlocking new opportunities to bring ecosystems together, mitigating key concerns about picking the ‘wrong’ platform or having to re-build if one partner uses something different.”

All four blockchain platforms continue to see success in enterprise uptake worldwide, making their way into systems throughout various sectors of the global economy.

For its most recent deal in Thailand, Accenture also opted for a single system, using Corda as the basis for its so-called Procure-to-Pay product.

“We have said right from the beginning that interoperability is key to avoiding the trapped assets and silos of the past,” R3’s CTO Richard Gendal Brown added in this week’s press release.

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Former SpaceX Engineer Targets Consumer Traders With His LXDX Crypto Exchange

A former engineer at Elon Musk’s SpaceX has announced his new firm LXDX would launch a public cryptocurrency exchange, Leaprate reports Monday, September 17.

Previously engaged in automation and propulsion at SpaceX, Joshua Greenwald has since turned his attention to institutional-grade cryptocurrency trading.  

While already operating for institutional investors, Greenwald now wishes to hook the mainstream consumer market.

“Our immediate focus is on cryptocurrency and enabling every investor to utilize the exclusive tools, like smart order routing, that only institutions previously could access,” Leaprate quotes him as saying.

LXDX received backing from a mixed bag of investors in August, chief among which was Dymon Asia Venture Capital Fund, before confirming a move into Malta last week.

The announcement comes as the institutional investment sector becomes an increasingly important focus for traditional finance heavyweights, rumors circulating last week about plans from both Citigroup and Morgan Stanley to begin offering exposure to Bitcoin.

“Cryptocurrencies are a wholly new asset class,” Greenwald told Venturebeat after announcing the August funding round.

“To the extent that they can be integrated into the existing infrastructure, we seek to facilitate that integration […] We anticipate massive scaling in tokenization and securitization.”

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