FC-202:

Shults Liudmula
Kuzmenko Liliya
Pisarchuk Liliya
Pribyleva Tetyana
Kobesova Albina
Skotz Vera
 THE MAIN IDEA ICON, AION, and Wanchain, as
the leading parties in this
alliance, have collaborated their
efforts and have shared their
In December of 2017, ‘BIA(Blockchain research for a common goal of
Interoperability Alliance)’ which developing inter-operational
functions as a linkage between standards for interchain network
independent blockchain networks has and protocol architectures.
been formed.

The true potential of

decentralized system lies in the
fact that it can be infinitely
expanded once the problems
regarding scalability and inter-
communication between
blockchains are resolved
 HISTORY OF CREATION
BIA Foundation
“The goal of this alliance is to create a
“
globally accepted stanard for
connecting blockchains, and to bring
innovations together”
Min Kim, ICON Foundation Member

As there is the ability for independent blockchain protocols to

communicate in a decentralized and scalable way, people are all
working towards a common goal — connecting blockchain protocols.

To facilitate this problem, Aion, ICON and Wanchain have come

together to launch the Blockchain Interoperability Alliance .
 HISTORY OF CREATION
The Big Three of BIA
Wanchain is a distributed financial platform that enables private, cross-blockchain
smart contract execution that aims to unite the world’s isolated digital assets.
Wanchain
ICON
Aion is a multi-tier blockchain
ICON aims
network
to be the
designed
largesttodecentralized
bridge and connect
network
other
for many different industries,
blockchains, as well as,ultimately
manage its
interconnecting
own applications.
independent blockchains without an intermediary
Aion
Founding Purposes

Basically, the alliance was formed

to tackle a few major issues
prevalent today, namely:

 to eliminate the reliance on

centralized intermediaries,
 to tackle the scalability problem that
current protocols like Bitcoin and
Ethereum have experienced
to build application specific networks
that can communicate with other
blockchains
 FOUNDERS

The founding
members of the
Blockchain
Interoperability
Interestingly, each member looks to Alliance are:

establish themselves as dominant

players in different regions. Aion is
focused on the North American
market, Wanchain is ready to take
over the Chinese market, and ICON is
focused on the South Korean market.
Example of why blockchain interoperability is so important?

Health care
and medical
records
 Top – 7 Main functions of BIA

The inability for

isolated blockchains to
communicate with one
another is a recurring
problem in the
decentralized
landscape. Isolated
inter-blockchain
communication can put
a strain to blockchain’s
scalability and
mainstream adoption.
Functions to avoid this:
 Top – 7 Main functions of BIA
In an ideal world,
projects should be able
to transact directly as
well as be able to share
information easily
across their respective
networks. Furthermore,
the users of a particular
blockchain platform
should be able to send
It means to support
payments, transfer
the ability for
digital assets, and
blockchains and all
exchange data or
distributed ledger
computing resources
systems to
with the users of other
communicate with
platforms. Functions
other and interact
that help achieve this:
freely.
 Top – 7 Main functions of BIA

Last no less important function:

to bridge public and private ecosystems

The creation of interconnected bridges which lead to a universal

ecosystem may one day result in every aspect of life including shopping,
gaming, travel, health, and finance being accessed via blockchain
systems and P2P digital currencies.
 Interoperability of blockchains is of great importance, as it will go a long
way in making it easy for people to transact on other blockchains seamless.
For starters, people will be able to make payments across multiple
blockchains. A fully interoperable blockchain network should thus be the core
of the digital economy in future.
Blockchain Interoperability should also lead to multi-token transactions
thanks to the development of multi-token wallet systems.
Such a development will allow users to
rely on a single
wallet system to for storage and transfer of tokens with ease
across various blockchains.

POTENTIAL USERS
Potential
Potential users
users are
are innovative
innovative
international
international companies
companies that
that want
want to
to
use
use different
different blockchain
blockchain systems
systems
without
without restrictions.
restrictions.
 Advantages
and disadvantages

INTEROPERABILITY IN BLOCKCHAIN BRINGS THE

FOLLOWING BENEFITS:

• Smooth information sharing across participating

blockchains
• Easier execution of smart contracts across
blockchains  
• Sharing of blockchain solutions and cooperation on
the ongoing development for enterprises
• The possibility for IT staff to develop a deep
knowledge of a few prominent blockchain standards
instead of having a basic knowledge of many protocols
• Opportunity to develop partnerships within the
blockchain ecosystem
• Data ownership
• Enhanced security
• Increased efficiency
 Advantages
and disadvantages

DISADVANTAGES:

• Blockchain systems, which do not speak

the same language
• May not guarantee eventual data
consistency and centralizes trust to
whoever operates the APIs.
• Do not create actual blockchain-to-
blockchain interoperability
 USE CASES

Alliance`s view of blockchain interoperability includes:

Integration of data from system

block chains and unplanned data in
the supply chain system

Ability to open blockchain-based

savings and loan accounts using digital
information

Automatically coordinate medical

services and insurance benefits.
 USE CASES
Aion and ICON have already joined Crypto When used in a
Curve, a protocol-level integration business ecosystem,
developed by Wanchain. The protocol aims companies will no
to improve the creation of custom products longer only have to
and programs for the distribution of deal with customers in
blockchain technology. the network on which
the business is built.
Instead, companies will
be able to transact
with customers from
another compatible
blockchain.
By and large, our group has considered everything but one recent event.
It seems that something important just happened, and we all missed it.
Lilia, was it your birthday?

HAPPY BELATED BIRTHDAY!!!

WE HOPE YOU HAD A GREAT ONE!