Datachain Launches Integrated Cross-Chain API Foundation Proof-of-Concept Test

Datachain, a blockchain-related business, has announced the start of its proof-of-concept test for an integrated cross-chain API foundation. This platform aims to connect industrial data and on-chain finance.

The integrated cross-chain API foundation connects real-world data from enterprise resource planning (ERP), accounting systems, and IoT devices with smart contracts and financial systems on a blockchain. Its goal is to enable the unified processing of data, contracts, authentication, and payments in corporate transactions.

Datachain states that current business processes involve multiple companies, systems, and financial institutions, leading to issues such as information discrepancies, confirmation workloads, and payment timing errors. To resolve these problems, smart contracts require real-world events and third-party authentication results to be linked to the blockchain in a verifiable manner.

Datachain's test will verify the connection of real-world data with smart contract execution conditions. It aims to process transaction data from ERP and corporate transactions systems, IoT device data on logistics, inventory, and operational status, and third-party authentication data. The test will also examine the update of contract states and payment instructions when pre-determined transaction conditions are met.