Quant, the blockchain for finance pioneer, is among the participants of the recently approved working group developing a new internet protocol which will make the transfer of digital assets more secure and DLT networks more interoperable.

​Alongside colleagues from MIT, IBM, EY and others, Quant put forward a charter that has led the Internet Engineering Task Force (IETF) to form the Secure Asset Transfer Protocol (SATP) Working Group. The Working Group will develop the SATP, a new technical standard for the Internet.

​The protocol aims to enable the transfer of assets across DLT networks in a secure manner. This will be achieved in part through standardising communication between networks and securing transactions across networks.

​This working group comes at a critical time for both the digital asset community – whose focus is on encouraging ease of movement of assets – and the internet, as it attempts to evolve into a modern, sophisticated internet of DLT networks which provide better security.  

“Having the proposal officially designated a working group by the IETF is a great achievement and a reflection of Quant’s commitment to security,” said Claire Facer, Product Manager at Quant and co-chair of the SATP Working Group.

“We see a ‘networks of networks’ future - much larger than the current internet networks of today - transacting data, information and value. If approved, the SATP will be a core infrastructure akin to today’s internet routers operating with border gateway protocol.”

​Thomas Hardjono, Director at MIT Internet Trust Consortium and member of the SATP Working Group said: “We are very pleased and extremely grateful to the Quant team for supporting this IETF protocol development from the beginning. We’re looking forward to working together to solve the intricate problems in digital assets.”