Pantos – research on blockchain interoperability
What is it?
Pantos is a research project on blockchain interoperability, initiated by Bitpanda, leading Austrian cryptocurrency exchange, in collaboration with researchers at the Technical University of Vienna (TU), the Research Institute for Future Cryptoeconomics (RIAT) and the Austrian Academy of Sciences.
As we are of the opinion that blockchain interoperability will play a significant role in the future, RBI entered into a research cooperation with Austrian Blockchain Centre (ABC) and Bitpanda in order to explore possibilities of communication between different blockchains heavily relying on findings from Pantos. Research will not focus just on technical interoperability, which is the domain of Bitpanda and TU, but rather provide an overview of potential blockchain interoperability use cases for RBI and what is the best way to tackle them. One of our pivotal use cases will be to explore how we can connect RBI Coin to other blockchains, which is a prerequisite for its future widespread adoption.
Why do we do it?
Right now, there are many blockchains existing – each one of them serves its purpose and solves a particular problem. Having this in mind, different applications in an organization like ours will be built on different blockchains. If these blockchains cannot interact with each other and if the value cannot be transferred from one blockchain to another, we are creating silos and not using the full potential of blockchain technology. Blockchain interoperability would allow different applications to effectively communicate to each other which would enable us to build an ecosystem of applications running on different blockchains. In this respect, Pantos project will help us determine how we can connect applications on different blockchains not only to benefit from current use cases but also to find potential new ones.
Who is participating?
RBI teamed up with ABC and Bitpanda in order to cover all aspects of blockchain interoperability. While RBI is looking at potential use cases from business perspective and Bitpanda is collaborating with TU focusing mostly on technical interoperability, ABC will help us to bridge the gap between technology and business.