/biz/ - Business & Finance

>Our Offices are situated at the Cayman Isles for Chainlink is about Transparency and Trust

Oh yes goyim send money to me take very good care of it, send money to bank account at Cayman Islands ne we never exist we never sell link tokens even though we own 650million

>Buying at ATH

Never change /biz/

Lol who of you here has more than 2m net worth let's flex on these clowns

The companies, or banks in this case, financial institutions, among with Swift, are going to use a private chain [https://www.ft.com/content/05d41660-f7c8-11e8-af46-2022a0b02a6c]. These banks already know each other and can see who is responsible for mistakes or attacks in the network. The Bank of America wont be attacking/sabotaging The Bank of England during any phase of the contract or transfer. If each party sets up a chainlink node, you have a network of chainlink nodes. These nodes are used by the private chain to fetch off chain data. The only reason they would use other chainlink nodes for fetching data is when they don't trust each other. But they do, at least to some degree. Having a permissioned ledger defeats the trustless input/output of chainlink.

A public ledger has trustless contract execution and so it needs trustless input/output. Using trusted input/output defeats the purpose of using a public ledger. It also goes the other way: The trustless input/output of the public chainlink network is wasted if you use a permissioned ledger, since the participants already have some level of trust. If they provide unique data, somebody has to trust them to report it accurately, regardless of how 'trustless' the delivery mechanism is. Do you think there is ANY winning scenario where a bank (whose entire business depends on honest accounting) reports inaccurate data to make out better on a few big contracts? Do you really think that banks need completely trustless delivery of information? The CL network is just a bunch of nodes running ontop of the ethereum ledger. If you have a private ethereum (or similar chain) ledger you can spin up your own CL nodes and call your own data or call data from other people on your private network. You can connect between the private and public networks with adapters but that likely isn't a use case at this stage for Swift.

Just trust me, you dumb fucks