Kaleido has been awarded a National Science Foundation (NSF) Small Business Innovation Research (SBIR) grant to conduct research and development work on an interoperability solution to support verification of state transfers across blockchain instances and protocols.
The broader impact/commercial potential of this research is to address interoperability challenges within the enterprise blockchain space.
The project will investigate how smart contracts on one blockchain can verify that a transaction (or a state transfer) has happened and has been finalized on another blockchain, which may be running a different blockchain protocol.
The innovation proposed here has the potential to create a whole new dimension for growth and business value in the enterprise blockchain consortium space, where to date, the focus has been to make the individual consortiums function securely and efficiently.
America’s Seed Fund, powered by NSF, awards $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact. Startups working across almost all areas of science and technology can receive up to $2 million in non-dilutive funds to support R&D, helping de-risk technology for commercial success. America’s Seed Fund is congressionally mandated through the SBIR program. The NSF is an independent federal agency with a budget of about $8.5 billion that supports fundamental research and education across all fields of science and engineering. For more information, visit seedfund.nsf.gov.