That wouldn't work. I think that PS4 and Xbox One had two diverent worksystems (I don't know the english word for "Betriebssystem") so Xbox One had a system of Windows 10 or higher (I don't know all about it) and PS4 have an other system so it's two different types of data.
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That is why I wrote in my post that Bungie is handling the transfer of inventory. The two different systems would not have to speak directly to each other to do the transfer.