Chainlink and ANZ Team Up for Project Guardian: Revolutionizing Cross-Chain RWA Transactions

Recently, Chainlink, the web3 services platform, collaborated with ANZ and ADDX to work on the Monetary Authority of Singapore’s (MAS) Project Guardian. This project will aim towards the enhancement of the cross-chain transactions of real-world assets and explore interoperability between private blockchains

Chainlink is the Web3 services platform that has enabled trillions of dollars in transaction volume across various vital industries, including decentralized finance, insurance, gambling, and non-fungible tokens. Chainlink is the leading decentralized oracle network, and it enables developers to construct feature-rich Web3 applications that have seamless access to real-world data and off-chain computing across any blockchain. Additionally, it helps global organizations by providing a common gateway to all blockchains.

About Project Guardian & ANZ Bank

Australia and New Zealand Banking Group Limited, more often known as ANZ, is a multinational financial services and banking corporation that carries out operations in a variety of areas all over the world. 

With the help of Chainlink Labs and ADDX, ANZ will investigate the possibility of private blockchains communicating with one another to trade tokenized versions of physical assets like commercial paper.

“Tokenized assets and related services developed across different blockchains that are not natively interoperable,” stated Nigel Dobson, Lead of Banking Services at ANZ.

While this complicates integration for financial institutions, it also has the potential to reduce the adoption of tokenized assets.

Mr. Dobson expressed his company’s enthusiasm about joining Project Guardian, its upcoming Digital Assets capabilities, such as A$DC, and how they may help customers move products and capital within the area.

Project Guardian Objectives

Project Guardian uses the four-tiered model to explain the various technological parts of a digital asset network. The reference model is necessary to put the many digital asset solution layers’ interactions into perspective. Separate entities could be responsible for governing and implementing each layer.

Access

How borrowers, investors, and issuers utilize various custodial and non-custodial interfaces to gain direct or indirect access to the suite of services is defined at the access layer.

Service

Various digital assets may interact with services, including lending, borrowing, payment, foreign exchange, and exchanges built through smart contracts.

Assets

All assets are recorded in the asset layer. “native issuance” describes assets born and housed on a certain platform. The term “tokenized asset” describes assets already tokenized and represented on a platform; typically, a custodian would be responsible for keeping these assets secured by the tokens at all times.

Platform

At the Platform layer, you’ll find the systems that allow you to record ownership of digital assets and conduct service transactions. Assuming its programmability and flexibility, the platform can accommodate various digital assets, such as tokenized securities and money from central banks. Technologies other than blockchain may be employed to build the platform.