/biz/ - Business & Finance

>>9556955
What the fuck is going on! Kek is with us right now

>>9553576
We won’t know anything for sure until mainnet. Sergey knows that under the hostile SEC regulatory apparatus that he must maintain the idea that LINK is a decentralised utility token and not a security and once it has utility they can promote chainlink, but not before that, or it jeopardises the whole project

>>9545468
This is

We won’t know anything for sure until mainnet. Sergey knows that under the hostile SEC regulatory apparatus that he must maintain the idea that LINK is a decentralised utility token and not a security and once it has utility they can promote chainlink, but not before that, or it jeopardises the whole project

>>9544609
Through their PoC with SWIFT, ChainLink has proven themselves as being capable of not just bridging the gap, but supporting the very formats that will run the post-PSD2 banking world.
There is a lot of speculation since the PoC about a partnership with SWIFT. For me, SWIFT has already given ChainLink something very valuable; a platform on the closed stage of the Financial Services Industry. SWIFT is seen in the sector as the keeper and enforcer of best practice for financial messaging standards so when Fintechs and Banks decide which Oracle services to use, ChainLink stands poised as a service made credible by SWIFT.
It's important to note that after the introduction of PSD2 APIs, Banks and Fintechs will not require SWIFT's telecommunications to communicate and therefore can work directly with ChainLink to connect to on-chain/off-chain data.
Often people suggest firms will just build their own oracles, but the reality is Banks will not be providing this service as, unsurprisingly, they aren't going to make the job any easier for 3rd party Fintechs. Meanwhile, Fintechs are often brand new companies who are not going to be spending their start-up funds re-writing Microsoft Outlook just because they can - they will simply engage with the industry standard oracle; ChainLink.
As you can tell, I am bullish about ChainLink. Often in crypto, the old saying about how the guy selling shovels in a gold rush is the one to get rich. Well, I believe PSD2 is another gold rush and ChainLink is the first in the door selling the shovels, the diggers, and the whole wash plant.

We won’t know anything for sure until mainnet. Sergey knows that under the hostile SEC regulatory apparatus that he must maintain the idea that LINK is a decentralised utility token and not a security and once it has utility they can promote chainlink, but not before that, or it jeopardises the whole project

ChainLink is the first project of it's kind whose goal is to provide a decentralized oracle service.
Ethereum is currently worth what it is because it offers trustless smart-contracts. Smart-contracts are a way to program the money to do things that's guarenteed. An example would be Bob sends Alice 500 RCN instantly when Alice sends Bob 500 REQ.
But there is a major issue with smart-contracts. Smart-contracts can only access blockchain data. In order to access 3rd party (stock prices, gas prices,weather information, etc) they need an oracle. An oracle is a service that converts 3rd party data into smart-contract usable data. An example would be let's say Bob wanted to make a smart-contract bet with Alice on the outcome of the last superbowl. The oracle that provides the game data would pull the ending score information from Yahoo, Google, NFL.com, etc then send the information to Bob's smart-contract.
The problem here is that the oracle is centralizied, and both Bob and Alice would have to trust this single oracle, which could be hacked, to be providing correct data, and because of that there is no reason to be using a guarenteed trustless smart-contract if the data is not trustless.
This is where ChainLink comes in. ChainLink will offer decentralized oracles that provide trustless data. With this system if Bob and Alice wanted to create that smart-contract they could pull information from multiple LINK nodes, and confirm they are all providing the same accurate data. These LINK nodes themselves could then pull each of their information from Yahoo, Google, NFL, etc. Because the nodes are staked with LINK tokens, if one node is providing incorrect data they would risk losing a portion of their staked tokens. LINK nodes providing correct data will be paid in more LINK tokens.
I hope this explanation clears up what ChainLink does and why it has a massive use case.
ChainLink's testnet was just released and it's mainnet is scheduled to release later this year.

>>9534102
>>>9533962 (OP)
>Chainlink was just banned in Europe.
Literally what?
>Swift will never use chainlink.
Youre right, they probably just invited them to the SIBOS twice for no reason.
>Price and volume continually dropping.
Sitting comfy at like 4x ico price. Trading bots have been turned off, signaling an end to the accumulation by whales.
>Mainnet delayed until 2020.
Source this nonsense claim. We are already on Ropsten
>2 man team, one is a philosophy major.
How many men started Microsoft? Apple? This is no argument.
>just fucking LOL this is the shitty coin ever
Just fucking LOL at this weak ass FUD

> year 2017 of our lord and saviour

> still unironically believing the meme of link being a meme.

>>9520614
We won’t know anything for sure until mainnet. Sergey knows that under the hostile SEC regulatory apparatus that he must maintain the idea that LINK is a decentralised utility token and not a security and once it has utility they can promote chainlink, but not before that, or it jeopardises the whole project.

>>9520439
We won’t know anything for sure until mainnet. Sergey knows that under the hostile SEC regulatory apparatus that he must maintain the idea that LINK is a decentralised utility token and not a security and once it has utility they can promote chainlink, but not before that, or it jeopardises the whole project

comfy

The FUD is relentless. Fuck that shit. If youre still here you know whats good my niggas.

>>9503937
Nothing is wrong. We won’t know anything for sure until mainnet. Sergey knows that under the hostile SEC regulatory apparatus that he must maintain the idea that LINK is a decentralised utility token and not a security and once it has utility they can promote chainlink, but not before that, or it jeopardises the whole project