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/biz/ - Business & Finance

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8992104 No.8992104 [Reply] [Original]

>Isn’t the problem with financial institutions like SWIFT taking advantage of DLT (Distributed Ledger Technology) is that it would take a long time to adapt their systems to handle it?

>That's not a false statement. However, the entire purpose of ChainLink, its goal, is to link those systems to the blockchain without having to do all the upgrades that would normally be necessary. Essentially, ChainLink is like an adaptor. For example, take an old truck. It’s so ancient, it has a cassette tape player. If someone likes to play music from their iPhone they will not be able, because there's no way to connect. Someone could buy an entire new stereo system for hundreds of dollars and must deal with installing it. Or, someone can buy a $20 adaptor that is literally a cassette with an aux jack wire coming out of it. Now someone can play music from their iPhone through a cassette player and they didn't have to upgrade anything, which suits them just fine. Now apply that concept to the entire global financial markets that would love to take advantage of the blockchain but have the old "cassette player" technology that they would rather not spend monumental amounts of money replacing from the ground up. This is where ChainLink steps in.

does anyone have another example besides this outdated version using a cassette player adapter example? or is this even a good example of what chainlink represents?

>> No.8992227

>>8992104
OP is a brainlet he doesn't understand that banks and insurance companies still use COBOL and that the cassette metaphor speaks to the bankers

>> No.8992319

>>8992104
Just sold 100k.

>> No.8992447
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8992447

>>8992104
but not only that, it connects EVERYTHING.

>> No.8992461

>>8992104
Ripple did it first and better.

>> No.8992622

>>8992461
Swift isn't going to use Ripple

>> No.8992878

Swift using their own. Smart contracts just helping them out.

You guys don’t get it

>> No.8992988

>>8992878
Oh wow. Thanks for explaining it to us.

>> No.8993074
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8993074

>>8992104
Thanks just bought 100k

>> No.8993090

>>8992878
Oh wow. Thanks for explaining it to us.

>> No.8993110

Chainlink...is literally a cassette with an aux jack wire coming out of it

>> No.8993118

>>8992878
So eloquent, I couldn’t have said it better myself. LINK btfo
Thanks for explaining it to us.

>> No.8993123

>>8992878
Oh wow. Thanks for explaining it to us.

>> No.8993290

>>8992878
Actually he is right. Link has another working partners but swift is out of the equation

>> No.8993339

>>8992878
thanks

>> No.8993342

Plus by the time u get $4.00eoy of year that’s 10x I will do 50-70x. I sold my bags at .90c and learned my lesson.

>> No.8993371

>>8993290
Lol.. nice story

>> No.8993408

Already 5x since I entered back in at April. You guys never learn.

Steem to eos to not to appc

Stay poor faggots

>> No.8993448

>>8993408
Upvote

>> No.8993496

>>8993342
You got the rope ready?

>> No.8993520

>>8993496
Nah I made it already.good luck linkies

>> No.8993607

>>8992104
BCH plz

>> No.8994412

>>8993371
>>8993290
>>8993118
>>8992878
You guys don’t understand but this is what adoption looks like. Chainlink won’t be fully integrated into SWIFT from day one, there will be a series of smaller joint projects (like the adaptor) before anything more substantial.

Link having a foot in the door with SWIFT is fucking huge though. Ripple haven’t done that yet, and chainlink will render their tech useless.

t. institutional banking fag