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16427003 No.16427003 [Reply] [Original]

So the Chainlink oracle can already call BTC/USDT from the Binance API, right?
Why can't a company undercut Coinbase by just having a fiat account attached to a BTC account by smart contract so that as soon as people deposit USD in fiat account X, the equivalent is paid out of crypto account Y. Fully automated, no faggot exchange/custodian fees, instant execution. Why doesn't this exist already?

>> No.16427037

>>16427003
because chainlink is vaporware

>> No.16427093

>>16427037

This, also illegal as fuck

>> No.16427096

>>16427093
>((((((((((illegal)))))))))))

>> No.16427110

>>16427003
there is no reason they cant. go build it. also uniswap is doing this i think

>> No.16427116

>>16427003
how does the fiat account connect to a smart contract

>> No.16427117

In theory you can, that's why Sergey is telling everyone to get your ass and build on it and revolutionize industries. People have no idea how early in this we are.

>> No.16427123

>>16427116
I guess that's what you need open banking APIs for? I don't know the nuts and bolts of it but presumably the whole point of Chainlink "connecting to legacy banking" is the facilitation of this sort of thing.

>> No.16427140

>>16427003
this is an obvious use case of smart contracts combined with decentralized oracles, basically we're just waiting for it to manifest, and it ill once all the legal i's and t's are dotted and crossed, also deco will make this sort of process zero knowledge

>> No.16427146

>>16427003
Because smart contracts are a meme