This essentially yet again is something chainlink labs talked about creating coming into use in the real world by reputable institutions insurance for businesses in unstable parts of the world is one of the main advantages LINK can offer of traditional financial contracts. we take for granted that when we take out insurance in the developed world when things go wrong it gets paid out. In developing nations having trustworthy 3rd parties that are also affordable is
unheard of. The link network can provide said insurance that can be trusted to automatically trigger when terms of the contract are met. As the most common business in these areas is agriculture this is phase 1. offering insurance against adverse weather such as drought. Hence the importance Accuweather setting up oracle nodes. Still early days but they continue to make strides to creating something useful, profitable and real that can help stabilise existing markets and create new ones that don’t yet exist.
I am by no means posting all the updates and developments with LINK but I’m still in and continue to add to my position. LINK during this bear market sell off has increased the number of API calls on the network not even ethereum can claim this (that’s why gas prices went down less people fighting for block space).
I think crypto is still 95% hype and marketing looking at what moves the market and whats ranked where but on a fundamental level LINK is still the strongest performer in terms of having achieved and growing long term revenue for node operators without subsidies. AKA they can make a profit without new investors continuing to subsidize them an anathema to crypto at the moment.
The third largest reinsurer in the world is now in a DAO with Avalanche, Chainlink, DAOstack, Etherisc, Pula, and Tomorrow.io. The DAO is named the Lemonade Foundation or L3C.
With respect to bridge operation, Chainlink already has the infrastructure in place. The network has 337 distinct, high-performance node operators. These node operators have a long history of on-chain performance and can begin providing CCIP services at launch. The second CCIP goes live, Chainlink will have the capability to create the most decentralized bridge, with the strongest trust assumptions. The Chainlink staking mechanism can also be utilized to further increase the security of said bridges.
Been a long time since ive done anything with this server and forum and will be a while before im active again. A lot going on with restructuring my company and starting a family time is limited. I do keep peeking in and its developed a lot amazing what conq and the team are doing with the server and forum.
I did stumble accross a few interesting articles that indicate the world banking system is moving towards CBDCs again. We have previously established chainlink labs is working with swift to make cross chain inter operability possible along with other techinical aspects confrimed by swift officially. The next stage is specifics in what form that will take and if it transpires to use of the chainlink network and increased api calls leading to increased token value. These articles discuss how the first stages may be implemented in CBDCs stating the swift network is key. As theres no direct mention of chainlink here the assumption is the way swift does it is by utilising thier partners chainlink labs.
Heres the stuff below. Look forward to having some time set aside to trade again.
