Telecom giant Vodafone\u2019s Digital Asset Broker (DAB) revealed<\/a> that it has conducted a proof of concept in collaboration with Chainlink Labs, Sumitomo Corporation, and InnoWave to alleviate issues pertaining to the global trade ecosystem.<\/p>\n Chainlink\u2019s Cross-Chain Interoperability Protocol (CCIP) was used to reduce inefficiencies in the global commerce ecosystem. The collaborative effort saw the companies using IoT devices with CCIP to transfer crucial trade documents.<\/p>\n DAB states that this process can increase security and interoperability, as one single interface can be used to transfer data between private and public blockchains.<\/p>\n In addition to the proof of concept, DAB has also joined Chainlink, the leading oracle provider, as a node operator.<\/p>\n <\/a><\/p>\n \u201cOnboarding a world-class infrastructure provider like Vodafone DAB to the Chainlink Networks\u2019 node operator ecosystem helps bring more secure off-chain data and computation to the Chainlink Network to support the wider blockchain economy,\u201d Chainlink Labs Head of Capital Markets Thomas Trepanier said.<\/p>\n Vodafone DAB was established in 2022 and transferred<\/a> to a newly formed entity in May 2023, with Vodafone owning an 80% stake and Japanese firm Sumitomo holding the remaining 20%.<\/p>\n On Aug. 31, Swift, the global interbank messaging service, released a report<\/a> showcasing how many financial institutions used Chainlink\u2019s CCIP to transfer tokenized assets between blockchains in a safe and secure manner.<\/p>\n LINK has been one of the top-performing tokens in the recent rally, up 48%<\/a> in the past week.<\/p>\n
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