/biz/ - Business & Finance

This was back in 2018, a lot of newfrens probably missed it. Chainlink is integrated into consensys/openlaw/rocket lawer, which Joseph Lubin, Co-Founder of ethereum, talked about how this would likely be the biggest of the projects he's working on.

>>19030852
What bag? the 50 linkies that all you village pooled together to buy? meh perhaps, one cannot have enough linkies

>>15661047
>>15661026
In other words it would destroy the useless parts of businesses. The people signing off on papers and all the stuff that includes repetition will be automated. Saves a lot for companies. Essentially we live in a probablistic world where there are no absolute guarantees of a contract being fulfilled. Smart contracts are deterministic, and the first users will be reinsurance, credit default swaps, basically anything with large amounts of money and low degrees of trust.

Think about how it works now if someone buys a credit default swap: right now their options are to buy the swap knowing that the writer will do everything legal under the sun to delay payment in the event of a payout in order to secure a position first. (this can be seen in the movie Big Short for example) From the perspective of the purchaser, losing even a month or two on that payment could end in your business becoming insolvent. Right now, the only options are to buy the swap and take the chance or go naked since there are no entities that you can trust, no matter how many lawyers you hire. The first people to use cellphones were the ones who could afford $20 a minute because they made more money off that communication advantage than it cost them. Chainlink is just like any other technology: it takes something expensive and makes it a lot cheaper. Every other tech follows this path: the people already paying huge amounts for that thing buy up all the early uses and then things trickle down

>>15588920
>he doesn't know

>>11111111
Checked

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