Datachain Launches Demonstration to Achieve Interoperability of Digital Currency on Ethereum and Digital Assets on Hyperledger Fabric

by Motoki Yoshida August 31st, 2021
Datachain Launches Demonstration to Achieve Interoperability of Digital Currency on Ethereum and Digital Assets on Hyperledger Fabric

Datachain will conduct a demonstration experiment to achieve interoperability between Ethereum and Hyperledger Fabric.

In this experiment, the Hyperledger Lab YUI will be used to achieve interoperability in a way that does not depend on the trust of intermediaries. We will conduct the demonstration with NTT DATA as a technology partner.

The interoperability between Ethereum and Hyperledger Fabric is a highly novel approach worldwide. It is expected to be applied to more projects around the world when we achieve interoperability between Ethereum and other major enterprise blockchains.


Background

As the commercialization of blockchains progresses, there is a soaring demand for interoperability between blockchains. In particular, as initiatives related to digital currencies, such as CBDCs (Central Bank Digital Currencies), are in full swing worldwide, it is essential to ensure interoperability between blockchains that handle digital currencies and blockchains that make payments using these currencies.

Datachain has focused on developing interoperability-related products such as Cross Framework and the Hyperledger Lab YUI. In addition, Datachain and NTT DATA have been collaborating on technology through demonstration experiments to achieve interoperability.

Reference: Datachain Teams Up With NTT DATA For Blockchain Interoperability

In response to the growing market needs for digital currencies, we have decided to conduct a demonstration experiment to achieve interoperability between Ethereum and Hyperledger Fabric.

Summary of the Demonstration Experiment

This demonstration experiment will verify the concurrent execution of transactions between different ledgers: rights transfer of digital assets on Hyperledger Fabric and payment by stable coins on Ethereum.

The outline of the demonstration experiment is as follows.

  • Enable value transfer between digital assets on Hyperledger Fabric and ERC20 tokens on Ethereum, assuming DVP settlement.
  • Use Cross Framework and the Hyperledger Lab YUI to achieve interoperability between Hyperledger Fabric and Ethereum without relying on the trust of intermediaries with Cosmos IBC. 
  • Collaborate with NTT DATA as a technology partner.

Future Initiatives

The interoperability between Ethereum and Hyperledger Fabric is a highly innovative approach expected to be in high demand worldwide.

In addition to Hyperledger Fabric, we expect more projects worldwide to use YUI when we achieve interoperability between Ethereum and other major enterprise blockchains.

Datachain will work with NTT Data to commercialize services using blockchain interoperability technology while researching and developing interoperability technology focusing on YUI.

Hyperledger Lab YUI

The Hyperledger Lab YUI is a blockchain interoperability project that Datachain has contributed to Hyperledger and leads the development. It includes IBC Module and other modules to achieve interoperability on various blockchain platforms with the IBC protocol.

For more information about YUI, please see here.

https://github.com/hyperledger-labs/yui-docs

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