/biz/ - Business & Finance

>>13840258
don't listen to these FUD faggots because CRYPTO isnt intuitive nor easy for non-autists, but I'm willing to help as somebody who figured it out themselves.

>>3913470
>>3913451
>>3913423
>>3913403
>>3913384
>>3913371
>>3913351

Trade finance smart contracts. For example, you're a manufacturing company, your automated factory produces plumbuses which are then delivered to your clients via a self driving semi truck company. You have a smart contract in place with the trucking company that smart contract needs to track GPS data on your shipments and compensate you for any delays, it will need to integrate data from supply chain ERP systems, and will need to interact with other smart contracts involved with the international customs shipping to ensure fulfillment of the original smart contract obligations.
Once you start thinking about this stuff, it's simply incredible what we're going to be able to do with it. It's like learning about the "next big thing" 10 years in advance.

Listen very carefully to what I'm about to say.

Ambrosos wants to represent external data (food) on the blockchain.

Walton wants to represent external data (RFID tags) on the blockchain.

Ripple wants to represent external data (financial transactions) on the blockchain.

These use cases are ENTIRELY contained within ChainLink.

ChainLink is the skeleton key that makes all these proects obsolete. It gives every company the building blocks to use oracles that represent ANY data, not just single use cases like food/RFID/financial transactions, however they want.

>>3867677
>>3867686
>>3867696
>>3867709
>>3867715
>>3867723
>>3867732
>>3867744


So Thats what ChainLink does. ChainLink is the first decentralized Oracle that allows anyone to securely provide smart contracts with access to external data, off-chain payments, and really literally any other API you can dream up. Confirmation of delivery of an items (RFID, like Walton), confirmation of a wire being sent or received, interest rates from any central bank, sports scores, product/machine uptime, price of Eth/BTC in real time, weather patterns etc. Right now smart contracts are simple if/then functions where you go and manually do the if so the then comes back. Now with Oracles smartcontracts can automatically confirm or deny if then statements without any human interaction. Transactional automation for agreed upon terms on steroids.

Anyone can now engrain off-chain data directly onto the blockchain in an actually decentralized way and use that data to directly inform trustless smart contracts, and since the Oracle is decentralized you know the data feed is secure and you’re not concerned with tampering on the Oracle’s part. This is like a skeleton key to actualize the data on the blockchain and apply that data to real world use cases.

>>3839008
>>3838939
>>3838959 (You)
>>3838970 (You)
>>3838976 (You)
>>3838982 (You)
>>3838996 (You)
>>3838939

>>3838959 (You)
>>3838970 (You)
>>3838976 (You)
>>3838982 (You)
>>3838996 (You)
Look at ETH.
What makes it worth the $300 it is today?
Smart contracts
They are revolutionary. Don't know why? Google it. You will find all sorts of uses for them, from Finance, Insurance companies, Airlines, you name it. There is a problem however, which is probably slowing down ETH's growth. Right now, smart contracts on the Ethereum network are limited; it's confined within the blockchain and with data on the blockchain.
Chainlink changes that.
All of those potential uses for Smart Contracts - that's all now a very legitimate possibility now. In the simplest terms, Chainlink allows for external data to inform smart contracts. When you consider the fact that it's decentralised, it gets a whole lot better.
People that keep saying things like "why would banks use chainlink when they can just make their own version" clearly don't understand the fundamentals of this project. Chainlink's goal is not to "be used" like (e.g.) Ripple hopes to achieve.
Chainlink is merely the bridge that enables data which is outside of the Ethereum 'universe', to communicate with it, and thus execute various actions. Thus, it's not unlikely that adopters will use their own private blockchain (biggest reason would be to avoid the market fluctuations in it's value). But - what will they use to get their data, onto the blockchain - whether it be their own token, eth, etc... Chainlink.

>>3800159

SWIFT isn't using ChainLink?

FUDers getting desperate.

>>3800097

>>3793009
>>3793075

stay poor....
such brainlet,,