The Blocknet’s inter-blockchain technology goes mobile

The Blocknet’s inter-blockchain technology goes mobile

A Blocknet-enabled mobile app comes to XCurrency, enabling cross-chain instant messaging and heralding the future of “Blockchain telematics”.

The future of both payments and the internet is mobile: if blockchains are to become a pillar of web 3.0 and the Internet of Things, their mobility is essential – and this means that blockchains will need to be both small and interoperable. To this end, XCurrency will shortly release a prototype inter-blockchain mobile app that implements the Blocknet’s prototype P2P protocol. For the first time, mobile communication between nodes on different blockchains is enabled.

FROM NODE TO NODE, ON ANY BLOCKCHAIN

Communication between nodes on different blockchains is essential for a mobile world, but its greatest utility may be that it enables specific blockchains to serve single functions, which can be served to nodes on any other blockchain. The resulting “internet of blockchains” is radical: it promises to extend the lifecycles of blockchains (since they tend to increase in size irreversibly, making general-purpose chains a bad idea), it makes blockchains swappable and archivable, enables a microservices approach, simplifies development of applications and delivery of updates, and allows services to function even if a single blockchain encounters a problem. In short, blockchain-agnostic communication is to blockchains what the internet was to computers: revolutionary.

BLOCKCHAIN „TELEMATICS”

Machine-to-machine communication is what is propelling humanity toward the “Internet of Things” – a world of smart devices where, for example, you’re at work and your fridge informs your phone that it has broken down, and before it ruins your floor, an electrician’s repair can be booked, monitored, verified, and paid for over a blockchain-based platform where devices, services, and payments are intrinsically integrated. XCurrency’s inter-node instant messaging serves as a sign of things to come: a Blocknet-enabled future.

Telematics – mobile inter-device communication that extends beyond the traditional automotive paradigm – is ideally suited to blockchain-based technologies and the provably secure cryptography they utilize. Services can be made secure from the ground up, which is of course essential in order to avoid the possibility of one’s car or computer being hacked into and tampered with. Moreover, since blockchains remove the necessity of passing data over to a central third party, one can maintain true control over one’s identity and personal information, and an indefinite range of functions can be carried out automatically, intelligently, and flexibly by devices.

AN INTEGRATED SERVICES, BILLING, AND PAYMENTS NETWORK

The Blocknet’s services have a particular elegance: they are delivered over the same network upon which payment for them is made, and payment is made directly to the service provider with no third party required. The competitive advantages of this are diverse:

  • Trust through transparency: both payment and service delivery are recorded on a blockchain, so that all parties are able to verify independently what has been carried out. A world of fraud and chargebacks can be happily left behind.
  • Superefficiency: by not requiring a third party to process payments, settlement is in realtime, transaction fees are an order of magnitude cheaper, and one no longer has to check that a third party will reliably and trustworthily carry out the service.
  • Total value capture: every microservice can be competitively monetized, enabling the true value of each function to be captured.
  • Automated accounting, auditing and reporting: blockchains are a record of every transaction in their history, and the movement of funds is verifiable independently of any one party. As such, financial records can be automatically extracted and utilized, saving hours of labor and expense, and delivering truly accurate information that is trivially easy to audit.

With blockchain-agnostic mobile communication, the Blocknet and XCurrency have demonstrated the reality of a blockchain-enabled future. Interested parties are welcome to participate. A smart world awaits.

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