The entire concept is a reminiscence when we used to collect the yellow books filled with lots of information regarding addresses and contact details at the door of our residence. Now that the blockchain use cases become omnipresent world-wide why should the concept of Yellow Pages lag behind?
IBM, an American multinational company, has joined the race with HACERA in order to develop the blockchain based application. IBM has recently publicized that it has already joined the project aiming to deliver a blockchain based catalog and blockchain based businesses. The project is known as ‘Unbounded Registry’ and governed by one of the renowned firm – HACERA. The news was officially announced by the Registry’s official launch where the IBM is said to be the founding member.
The mission of the project focuses to build a decentralized cross blockchain registry that puts both the permissioned and permissionless blockchain applications altogether under the one roof through a directory of blockchain networks. The entire new concept will effectively build a platform that creates interoperability within numerous blockchains that let them interact and execute transactions regardless of specific protocols. This is said to be one of the best niche to introduce blockchain based application in this space.
The company sources said in its statement that “As the number of blockchain consortiums, networks and applications continues to grow we need the means to list them and make them known to the world, in order to unleash the power of blockchain.”
Amid this, Jerry Cuomo, IBM’s Vice President Blockchain Technologies writes, “The Unbounded Registry, built on blockchain technology, provides a decentralized means to register, look up, join and transact across a variety of blockchain solutions, built to interoperate with all of today’s popular distributed ledger technologies.”
He sees and characterizes the project as a sort of blockchain based Yellow Pages. Likewise other permissioned blockchain systems in place, users will have to apply to join the Registry.
Both IBM and HACERA have not yet finalized any specific criteria that can be a part of this registry. If HACERA actively focuses to resolve the interoperability challenge, then one can surely expect more blockchains will be allowed to join the club.