The Importance of Interoperability for the Development of the European Blockchain Industry
This IDC Market Perspective examines the importance of interoperability in the widespread adoption of blockchain technology and the dangers of blockchain fragmentation. This document looks at technological developments that have led to a lack of interoperability between major blockchains and current technical and business barriers to greater interoperability. It also provides an overview of major interoperability projects and recent interoperability initiatives by major enterprise providers that hint at the future approach of the industry. It concludes with valuable insights for tech providers on how to approach interoperability. "Interoperability is an important precursor to blockchain's mass adoption because it enables smooth information sharing, easier execution of smart contracts, a more user-friendly experience, the opportunity to develop partnerships, and sharing of solutions," said Radoslav Dragov, senior research analyst for European Customer Insights and Analysis and European Blockchain lead.
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