/biz/ - Business & Finance

>>55886447
why don't banks just make their own messaging service why use swift
why don't banks make their own operating systems why use windows
why don't banks just make their own cloud databases why use aws
why don't banks just make their own chairs why use herman miller

>>55886496
what exactly is the value of chainlink? Why would banks want to gain access to blockchains which are far slower and less efficient to what they're used to using?

>>55886520

>>55886520
blockchains?
automation is the usecase.

>>55886496
Why would shady banks want decentralized oracles providing reliable data to the world. It's like a vampire stabbing himself with a silver dagger.

>>55886447
Because they tell the truth solely for the job of being paid to tell the truth.

Governments and banks will manipulate the truth if it benefits their agenda and thus will have to compete with Chainlink nodes (which only tells the truth) - when they catastrophically fail or fuck over their users perhaps they'll learn to pay up.

>>55886549
Because automation is worth that much

>>55886447
Chainlink is Consensus-as-a-Service. It is small-committee consensus where DONs are tailor-made to any given use case. For bank use cases they will most likely use DONs where all the node operators are other banks. They don't develop their own oracles because the oracle problem is really difficult and most enterprises are not capable of creating a team of Chainlink's caliber. They also don't use their own oracles for the same cryptoeconomic reasons they don't fork the Bitcoin code and create their own Bitcoins. They need an open standard that isn't controlled by any single bank.

>>55886447
It opens them up to liability. The only way is to do it themselves. Chain link is a scam.

Why doesn't Sergey pay the Oracle's cash? Put them on payroll?

Why?

Don't have to pay overtime, benefits, etc.

They'll do it for link(free)

>>55886520
You should read the whitepapers. Faster, cheaper, more secure than existing systems. Programmable policy which determines the operation of assets. It is extremely powerful to be able to build a workflow which spans multiple banks/enterprises— involving movement of assets, payment, record-keeping, etc.—and have those operations execute in an 'all' or 'none' manner. Not only is blockchain *not* slower and less efficient for their use cases, but it will allow them to do things that were not even possible before.

>>55886608
Why doesn't Sergey run the Oracle's himself, within the company?

Because he can trick faggots into doing it for free. Get them cult brained. Just like the Jannie's of 4chan.

> I'm doing a valuable service for something I care about, for the good of the world.

Yeah fucking right kek

Probs something to do with trillions in secure transactions and no down time over the years

>>55886608
>opens them up to liability
Ding ding ding! Why would anyone banking, legal, or government infrastructure surrender control of its own software to random internet schizos? Expose themselves to the possibility of network attack or hijack? Imagine how simple state-sponsored attacks become. How much compute is needed to overpower an oracle?

>>55886623
Why not pay them cash

Why not run it themselves within the company, why trick schizos into doing it for free?

Because it's a scam, it's going to fail. Blame the schizos, chainlink labs survives. Offers a premium solution after everyone's hooked. Charge more getting CASH DOLLARS.

>>55886644
So who do they sue when its a decentralized network

>umm chenlenk scam sirs! its all a trick! theres no incentive for running a node! not that i even know anything about it anyway!
Is this your first shift or something, OP fuddie? This thread is a hilariously retarded shade of brown. Get your filthy monkey hands off of that keyboard and do something more dignified for a living, like trying to clean out your designated shitting gutter with a spatula.

All fields.

>>55886520
Because all the innovation is busy taking place on the public blockchains. Private blockchains are basically copypasting what's being created on Ethereum but with less functionality and liquidity.

>>55886496
Fucking based hahaha

>>55886447
because cll has all the talent
https://chainlinklabs.com/research
people look back at 2018 and 2019 like it was all easy but there was a very real concern that an industry team was working in parallel on this problem as it seemed so obvious
but it's chainlink
>>55886582
this

>>55886520
automation
trust (even between major institutions)
efficiency:
https://twitter.com/chainlink/status/1682389971427270657

>>55886447
because blockchains need an oracle network, decentralized, that is trustless by default to scale. there are thoughts that major companies can build a decentralized oracle system themselves but why would they open themselves up to the those liabilities when there is already a clear winner? it makes no sense, why banks use swift is the same line of thinking. why would any company put in billions of dollars to take market share from chainlink when there is no possible way that your product will end up on top? there is no second best oracle. there literally is no second best oracle system.

>>55887443
that thought is pretty scary, when people start to realize its value i could see people talking about it being a monopoly of sorts.

>>55887337
Is this a new image?

>>55887443
>there are thoughts that major companies can build a decentralized oracle system themselves but why would they open themselves up to the those liabilities when there is already a clear winner?
to spite the horrible group of people who call themselves "the link marines."
yes, an entire new oracle system can and will be made from the ground up, for no other reason than to make sure people who hold chainlink do not make any more gains. simple as.