The BSV blockchain and IPv6 can be used together to evolve the world of tokenisation rapidly. This is the view of Giovanni Franzese (Head of IP Commercial Operations at nChain), who recently shed light on the topic of IPv6 and blockchain at the IEEE Coins Conference in London.
Franzese highlighted two key use cases that his company is working on and where IPv6 can bring significant value: the Internet of Things (IoT) and tokenisation. These innovations are set to reshape industries ranging from smart devices to digital payments, leveraging the vast addressing capabilities of IPv6 to meet growing technological demands.
Solving scalability challenges in Japan’s voucher system
Franzese elaborated on an innovative tokenisation project in Japan, developed in partnership with Fukushima City and Keio University. This initiative focuses on replacing traditional paper vouchers with digital tokens. In Japan, paper vouchers are widely used for purchasing goods and services, but the shift to digital tokens promises to streamline transactions.
The project will issue a lot of tokens and nChain plans to combine them with IPv6 capabilities. IPv6 offers an immense pool of IP address space and is thus a key infrastructure for IoT devices. Franzese said the following about how IPv6 and tokenisation will work together in this project:
‘The innovation that we are trying to introduce with this project, is basically to give an IPv6 address to those tokens and we will need a lot of them. In very short, this is the innovation that we will bring: tokens addressed by IPv6.’
nChain’s Blockchain and IPv6 Integration in IoT
Franzese also highlighted nChain’s strong patent portfolio in the areas of blockchain, IPv6, IoT, security, and identity. These patents position the company at the forefront of innovation.
In the tokenisation space, blockchain plays a pivotal role by ensuring transparency, immutability, and decentralisation of transactions. By integrating blockchain with IPv6, tokenised assets and IoT devices can operate securely and efficiently in an auditable environment.
Blockchain’s role in IoT is particularly promising. It can enable the secure exchange of data between devices, ensure device authenticity, and create automated payment systems via smart contracts. These innovations have the potential to revolutionise industries such as healthcare, manufacturing, and logistics, where IoT devices are increasingly prevalent.
How IPv6 and blockchain unlock new digital possibilities
The combination of IPv6 and tokenisation is set to unlock new possibilities for both IoT and digital payments. IPv6’s expansive addressing capabilities make it the perfect solution for the growing number of IoT devices, while its application in tokenisation projects like the one in Japan demonstrates its potential to transform everyday transactions.
With companies like nChain leading the charge, backed by strong patents and cutting-edge research, the future of these technologies looks incredibly promising.
IPv6 and a scalable blockchain have good synergies with each other by enabling peer-to-peer communication for everyday life. Just as real peer-to-peer communication on the internet was previously made impossible by the limited address space. In the same way, there is currently a lack of scalable blockchains that utilise the full potential of this technology.
