/biz/ - Business & Finance

>>14842322
Hi

>>14365942
Tell people the incels are unironically autistic

>>14365408
i fart in your general direction!

>>14061836

1k eoy

In October, ChainLink completed a year-long proof of concept for smart-contract based Bond payments over the SWIFT network, and are currently working on building a larger implementation for smart-contract based securities. The opportunity for this specific implementation is large. In terms of volume, SWIFT does about 25–30M payment messages per day, of which 11–13M are related to securities processing — this equates to a total of about 3bn per year. We assume (conservatively) that around 10% (300M) of these securities messages are related to bond processing.

If the LINK token is addressing smart contract data input/payment output functionality for over 300M messages per year — it will be involved in processing around 820K transactions a day. This is more than Ethereum (600K transactions per day, valued at $44bn at time of writing) or Ripple (200K network payments per day, valued at $11bn at time of writing). ChainLink is currently valued at $100m.
The final piece of the SWIFT partnership that is important to understand is that, if it is implemented, ChainLink will have access to one of the very few gateways to fiat that exists for smart contracts. If the partnership is successful, ChainLink will not only enable SWIFT to process smart contracts, but it is possible SWIFT will enable other external smart-contracts to settle through fiat on its network by means of a ChainLink/SWIFT oracle. This is a massive opportunity for both companies: SWIFT could potentially become the fiat clearinghouse for cryptocurrency-based smart contract transactions by way of ChainLink.