/biz/ - Business & Finance

>>5291096

Right now, there is no simplistic, trusted manner to conduct on-chain smart-contract to smart-contract transactions that require Oracles. Chainlink is one of a kind in this regard and the only project presently tackling this particular problem in a decentralized approach which gives it a first mover advantage.

Chainlink is the key to secure, reliable smart-contracts and will allow for the ecosystem to simulate or replace the vast majority of financial agreements in the traditional finance space.

You want to create a distributed gambling or sports betting application? You can use the Chainlink network to pull PredictIt data and other public API results. The online gaming market had a volume of 50 billion this year and even 0.1% of that market flowing through Chainlink would be around 50 million dollars in transactions.

You want a decentralized exchange that can accept deposits directly from banks? You can use Chainlink oracles to send SWIFT payment messages back and forth to affirm account details and settle the transaction accurately. There are currently around 30 million daily SWIFT messages, even 0.001% of that volume going to smart-contracts would be 110,000 transactions on the Chainlink network a year. How much money would that be? SWIFT conducts over 1 quadrillion dollars (yes, that is correct, it is actually closer to 1.25 quadrillion) in transactions a year, even a tiny fraction would be millions, if not billions.

>>5287908

It'll jump to $1-1.50 due to the news and FOMO and then probably come back to baseline at $0.75-1.