In an effort to address problems with the global trading ecosystem, the telecom behemoth Vodafone’s Digital Asset Broker (DAB) disclosed that it has carried out a proof of concept alongside Chainlink Labs, Sumitomo Corporation, and InnoWave.
The Cross-Chain Interoperability Protocol (CCIP) developed by Chainlink was utilized to cut down on inefficiencies throughout the global trade ecosystem. The firms worked together to send important trade papers utilizing IoT devices and CCIP.
Since data may be transferred between private and public blockchains via a common interface, DAB claims that this method can improve security and interoperability.
Apart from the proof of concept, DAB has become a node operator in Chainlink, the top oracle supplier.
Chainlink Labs Head of Capital Markets Thomas Trepanier stated, “Onboarding a world-class infrastructure provider like Vodafone DAB to the Chainlink Networks’ node operator ecosystem helps bring more secure off-chain data and computation to the Chainlink Network to support the wider blockchain economy.”
Vodafone DAB was founded in 2022 and moved to a newly created company in May 2023. Vodafone owned 80% of the company at the time, while Sumitomo, a Japanese company, owned the other 20%.
The worldwide interbank messaging provider Swift published a study on August 31 that showed how many financial institutions securely and safely transferred tokenized assets between blockchains using Chainlink’s CCIP.
With a 48% increase in the last week, LINK has been among the best-performing tokens in the current surge.
