Blockchain firm Smart Token Chain, Inc. (STC) announced that it has completed its first full Smart Token transaction on the Ripple Network.
STC will use Ripple platform and will gain access to a wide range of partners and customers without having a digital relationship with each other. The new Smart Token solution will have potentials for making global exchanges of value fast, affordable and highly secure, the release stated.
“This test confirms the robustness of our blockchain-based solution leveraging our patent-pending Smart Tokens, and deepening trust in our ability to bring speed, accuracy and security to transactions across distributed ledger platforms,” Morris Mwanga, CTO of STC said.
STC is leveraging Ripple’s open platform – Interledger Protocol – in order to move payments across different networks worldwide. Leveraging the Ripple platform, it will also provide a well-documented audit trail, which will make dispute resolutions more efficient and less frequent.
“Connecting to Ripple, gives Smart Token Chain the most efficient, lowest cost network to move Smart ID Tokens and other asset or message tokens between counterparties. Our successful test proves low cost, faster, more secure global transactions are no longer a thing of the future,” Tom Meredith, CEO of Smart Token Chain said. “We have a clear vision as to how Smart Tokens can interoperate disparate blockchains in an increasingly fragmented market.”
