{"id":180351,"date":"2023-10-25T02:33:25","date_gmt":"2023-10-24T21:03:25","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=180351"},"modified":"2023-10-25T02:33:25","modified_gmt":"2023-10-24T21:03:25","slug":"vodafone-sumitomo-team-up-with-chainlink-to-explore-trade-documents-network-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/vodafone-sumitomo-team-up-with-chainlink-to-explore-trade-documents-network-crypto-news\/","title":{"rendered":"Vodafone, Sumitomo team up with Chainlink to explore trade documents network – Crypto News"},"content":{"rendered":"
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Vodafone Digital Asset Broker (DAB) has joined the Chainlink network as a node operator after completing a proof-of-concept with Japanese trading and investment company Sumitomo for exchanging trade documents across platforms. The companies hope to improve document transfer and processing of financial transactions in the $32-trillion global trade ecosystem, Vodafone said<\/a>.<\/p>\n

The proof-of-concept used oracle network Chainlink\u2019s Cross-Chain Interoperability Protocol (CCIP). DAB \u201cprovide[d] security and interoperability across IoT devices at the edge of a network.\u201d The proof-of-concept showed the potential of Vodafone Internet-of-Things devices and blockchains to provide data for use in contracts and AI applications. Potentially, a single interface could be created to transfer data and tokens, the company said: <\/p>\n

\u201cFor example, a vessel detecting a cargo fire could autonomously relay data to smart contracts via DAB\u2019s platform and CCIP, potentially triggering a marine cargo insurance process.\u201d<\/p><\/blockquote>\n

Trade documents are a particular challenge because they may exist on paper or on digital platforms with low interoperability and need to change hands repeatedly.<\/p>\n

Related: SWIFT partners with Chainlink for cross-chain crypto transfer project<\/a><\/em><\/strong><\/p>\n

International telecommunications company Vodafone launched<\/a> DAB in February 2022 and first used it with Mastercard in a trial in the United Kingdom of an app to help electric vehicle drivers find and pay for the best charging options. <\/p>\n

Vodafone teamed<\/a> up with Sumitomo in May. The companies formed a new entity, in which Vodafone held 80%. Vodafone transferred DAB, as well as intellectual property, contracts, technology and software, into the new business. The two companies also invested jointly in Safaricom Ethiopia<\/a>. <\/p>\n

\n

.@VodafoneBiz<\/a>, a leading telecommunications firm in Europe and Africa, collaborated with @chainlinklabs<\/a> on using CCIP for global trade and has officially become a #Chainlink<\/a> node operator<\/p>\n

Connecting the world to blockchains pic.twitter.com\/MKDtnLGSSS<\/a><\/p>\n

\u2014 ChainLinkGod.eth (@ChainLinkGod) October 24, 2023<\/a><\/p><\/blockquote>\n

Vodafone DAB partnered with enterprise blockchain Aventus in August intending to improve the supply chain in aviation.<\/p>\n

CCIP launched on Ethereum\u2019s Arbitrum One <\/a>layer-2 in September to increase scaling. It also worked with Australia and New Zealand Banking Group (ANZ) to test an Australian dollar stablecoin<\/a> the same month.<\/p>\n

Magazine: Introducing the Trivergence: Transformation driven by blockchain, AI and the IoT<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Vodafone Digital Asset Broker (DAB) has joined the Chainlink network as a node operator after completing a proof-of-concept with Japanese trading and investment company Sumitomo for exchanging trade documents across platforms. The companies hope to improve document transfer and processing of financial transactions in the $32-trillion global trade ecosystem, Vodafone said. The proof-of-concept used oracle […]<\/p>\n","protected":false},"author":2,"featured_media":180352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-180351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=180351"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180351\/revisions"}],"predecessor-version":[{"id":180354,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180351\/revisions\/180354"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/180352"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=180351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=180351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=180351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}