Interacting Decentralized Transactional and Ledger Architecture for Mutual Credit

The EU-funded research project INTERLACE (Interacting Decentralized Transactional and Ledger Architecture for Mutual Credit) is developing innovative technologies for the secure and transparent processing of transactions in alternative economic systems. Inspired by the Sardinian Sardex model, which has established a cashless regional currency, INTERLACE is researching the use of decentralized blockchain technologies to automate contract processing.

Central to this is the development of a customizable software architecture based on abstract interaction state machines (ASIM). This enables flexible smart contracts that adapt dynamically to different economic and social needs. The research is being carried out by the Salzburg University of Applied Sciences in collaboration with the London School of Economics, Hertfordshire University and the University of Passau.

The results of INTERLACE open up diverse fields of application, including bankless payment systems, transparent supply chains, legal transactions and IoT data transfers. By combining technological innovation with social relevance, the project makes an important contribution to strengthening regional economic cycles and democratizing digital transaction systems.