IOTA, a blockchain specifically developed to operate in an Internet of Things (IoT) ecosystem, has announced a bridge system that links their Tangle technology with Hyperledger’s Fabric permissioned Distributed Ledger Technology. The IOTA Connector will secure connectivity for the two projects and provide enhanced data sharing and validation between Tangle’s public permissionless protocol and the Fabric’s private siloed permissioned systems.
— IOTA News (@iotanews) November 27, 2019
When organisations use Fabric to track assets in a supply chain, the IOTA Connector will mirror the data into the Tangle and allow participants to utilise IOTA’s fee-less payments, encrypted transaction payload, and public/private message chains.
Traditional Financial Partners
Founded by the Linux Foundation in 2015, Hyperledger is a collaborative project involving contributions from multiple sources including tech companies such as Cisco, IBM, and Intel. Major legacy financial players are also involved with the likes of Bank of New York Mellon, JP Morgan, SWIFT, Wells Fargo and the Depository Trust & Clearing Corporation (DTCC) all part of the development process.
While Hyperledger is an umbrella term for a multiple range of blockchain-based DLT frameworks and tools, Fabric is perhaps the best known for having flexible permission levels and supports a variety of programmable smart contract languages.
According to IOTA’s report, the Connector bridge will facilitate the reading of “…data from the Tangle and trigger Hyperledger Fabric smart contract execution based on the fetched transaction data or payment confirmation,” which implies IOTA could now be integrated into multiple scenarios of any common supply chain project based on Hyperledger Fabric.
IOTA have made interoperability a key component of their framework and are also involved with the Qubic project that is aiming for a cloud-based smart contract layer employing oracle data.