Published on August 30th, 2021
The absence of standards in blockchain may give freedom to developers but it is also likely to give IT departments a headache in case blockchains lack interoperability and cannot communicate. Interoperability here means the possibility to freely share value across all blockchain networks without the need for intermediaries.
In an interoperable ecosystem, you can interact with users from other blockchain networks without spending resources on translation or experiencing downtime. You can receive information from other members, process what they sent, and respond accordingly.