Research Projects

The National Strategy on Blockchain for India, published by MeitY in December 2021, emphasizes the importance of supporting various blockchain platforms, including public and private/permissioned infrastructures. This strategy allows application developers to choose a platform based on individual application requirements. However, there are challenges in supporting cross-chain data and asset transfer between different permissioned networks, such as trade logistic and trade finance networks. One such challenge is the confined identities of participants within a permissioned network, which requires a decentralized identity exchange mechanism to support verifiable data transfer. Additionally, data transfer requires verification protocols to ensure consensus among network participants. The project aims to develop an interoperability standard, called Internet of Blockchains (IoBC), for cross-chain asset and data transfer among multiple permissioned blockchain platforms, including both permissioned and permissionless blockchain interfaces. The goal is to design a complete end-to-end standard for multi-platform blockchain interoperability, while complying with various national and international standards. The project aims to achieve these goals by considering design goals such as not being tied to any particular DLT, allowing networks to choose identity registries and providers, retaining autonomy while interoperating universally, and minimizing changes to existing code and configurations.