/biz/ - Business & Finance

>>27394635
>Beyond that, I think chainlink will be a method of trust minimized off chain computation, that will allow all the worlds events, data and commands, to reliably be filtered into all the worlds decentralized systems that house smart contracts, such as blockchains and DLT’s and others, whether they are in private or in public format. One example of this is how chainlink is already able to something like proof of reserves, where we are able to initially prove that certain crypto assets are locked up in something like Wrapped Bitcoin. Wrapped bitcoin uses proof of reserves. Then we graduated that to be able to prove some things about bank accounts, so there are certain stable coins like TUSD and Paxos, that are now on tract to use proof of reserves to prove things about bank accounts backing their stable coin, essentially proving that their are assets behind the stable coin, or the defi tradable token asset.