Blockchain

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Importance of Interoperability to blockchain's future Chapter 12 explains interoperability as one of the significant factors that will increase the value of blockchain to enterprises. Blockchain will facilitate the integration of numerous business processes and resources such as channels and ledgers, transactional finality, and the use of smart contracts. Blockchain will also address its value across business by providing means to connect contextual networks and industry-driven regional networks to flatten the network. Interoperability would also enhance the ability of organizations to use these on other platforms such as Corda and Ethereum. In my opinion, interoperability is more important to blockchain's future since it determines the ability of organizations to leverage blockchain and integrate it with other existing systems ( Pillai et al., 2020) . Currently, most businesses fail to leverage blockchain due to interoperability issues such as the inability to connect blockchain networks with other existing technologies such as transactional systems. Another significant reason why interoperability plays an essential role in blockchain's future is that organizations are more likely to embrace a technology that provides seamless and meaningful services through the integration of blockchain systems into existing business systems. Such an approach will play an essential role in ensuring that enterprises can leverage blockchain without any functionality issues. Addressing interoperability issues will also help to address regulatory and compliance issues, thus ensuring that organizations can operate blockchain networks either as a stand-alone system or as an integral part of the existing business systems ( Baset et al., 2018) . Ensuring interoperability between blockchain, business networks, and other contextual networks will play an essential role in enhancing the willingness and ability of organizations to embrace blockchain networks. Questions
1. What is interoperability? 2. Which are some of the benefits of interoperability? 3. How does scalability apply to blockchain networks? References Baset, S. A., Desrosiers, L., Gaur, N., Novotny, P., O'Dowd, A., & Ramakrishna, V. (2018). Hands-on blockchain with Hyperledger: building decentralized applications with Hyperledger Fabric and composer . Packt Publishing Ltd. Pillai, B., Biswas, K., & Muthukkumarasamy, V. (2020). Cross-chain interoperability among blockchain-based systems using transactions. The Knowledge Engineering Review , 35 .
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