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I've searched the Cryptocurrency thread for Chainlink.

 

I have posted on there to try and get a discussion going. I can't see anything on the board about it.

 

Its difficult to value, most cryptos are pointless and scams, this one is very interesting.

 

If you 're familiar let me know, if you're not and interested then ask.

 

Info:

 

https://www.smartcontract.com/

 

https://create.smartcontract.com/sibos17

 

I'm assuming most here are involved in financial services / analysis. The financial Services sector and most any industry will be all over this eventually (if all goes to plan).

 

If you have any info from where / who you work with about Chainlink that you would like to share that'd be cool.

 

 

 

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https://schedule.sxsw.com/2018/events/PP80326

 

Founder of smartcontract.com speaking on a panel with the founder of docusign and the chamber of digital commerce.

 

Rumour is that docusign will partner/adopt chainlink to allow smart contract users to digitally sign digital agreements through an api.

 

Really Cool!  We sound like we are making this stuff up now.. 

 

Kernel+API+Blockchain+digital signature+PandaPanda+Marshmello+DocuSign+PE+VirtualReality+ OpenSource

 

I wonder why Charlie and Warren warn us to stay inside are circle of competence.  ;)

 

Munger- "I am not trying to do something smart, I am just trying to not do something stupid!"

 

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https://www.capgemini.com/wp-content/uploads/sites/30/2016/10/Smart_Contracts.pdf

 

That's the capgemini report highlighting the businesses case.

 

I don't see block chain being a store of value as much as I do it having enormous utility value.

 

In that report chainlink is the Oracle. Basically if you want a smart contract to execute in an automated way when an event occurs in the real world you need an Oracle. The Oracle pulls data from the real world (through an api) and if smartcontact triggering events are met the contract is executed and money is paid.

 

Think smart contract derivative bets paying out when apple stock reaches a particular value or bonds being sold if the debt is downgraded. It allows contracts to execute definitely when events occur without either party having to trust that the other will perform.

 

Essentially the whole reason block chain was created was for smart contracts and without oracles real world use cases are impossible. If this doesn't exist ethereum is worth nothing.

 

 

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In the financial markets the clearing houses provide this service effectively and pretty cheaply. Is the argument it replace them (why fix something that isn't broken) or that it will provide a similar escrow type service elsewhere.

 

Out of curiosity, how many transactions have you (either personally or professionally) ever not completed because of lack of escrow or unacceptably high cost?

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re the clearing houses you have to trust them to execute and they are a single point of failure. There is a case alleging their failure to deliver on stocks for example.

 

One other real world example is flight insurance being trialled now by fizzy, a part of axa. You buy flight insurance and the fizzy Oracle retrieves flight data. If your flight is late the insurance contract pays out immediately. This is currently with a centralised Oracle service, oraclize, which is not desirable as it is a single point of failure. Decentralised oracles are required for fully trustless execution and higher value contracts.

 

I personally haven't not competed any. But I haven't had the option. I've had to trust them to deliver. Re high cost, take a look at the cap gemini report. This will save billions of dollars in costs and raise billions in revenue.

 

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Also they've competed a successful proof of concept with swift and 5 banks one being Barclays. The poc created a bond smart contract generating an interest rate from the average of the 5 banks, assigned the debt a rating from s&p, and made interest payments.

 

They're still working with swift, who service 11,000 banks, to complete the work to allow the banks existing systems to integrate with the block chain.

 

Swift is being pushed by members to use the block chain as it reduces costs as transactions clear in minutes not days.

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  • 1 year later...

Mentioning Chainlink once more as Mainnet version 1.0 goes live May 30th.

 

 

This project is probably the most important in crypto.

 

Would you mind explaining in clear and concise terms what the hell Chainklink is?  And how the hell you value it? 

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Mentioning Chainlink once more as Mainnet version 1.0 goes live May 30th.

 

 

This project is probably the most important in crypto.

 

It is already 20% of my portfolio. What other tokens do you like?

 

I don't like other tokens as their use case isn't so clearly necessary to me. If i had to choose a currency I'd say Ethereum.

Off-chain computation with chainlink is absolutely the one.

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Mentioning Chainlink once more as Mainnet version 1.0 goes live May 30th.

 

 

This project is probably the most important in crypto.

 

It is already 20% of my portfolio. What other tokens do you like?

 

I don't like other tokens as their use case isn't so clearly necessary to me. If i had to choose a currency I'd say Ethereum.

Off-chain computation with chainlink is absolutely the one.

 

What about bitcoin? you don't hold any bitcoin ?

 

I am sure you know that bitcoin halving is supposed to happen in May of 2020. That will make bitcoin harder than gold. First time in the course of human history that we have a synthetic commodity that is harder than gold.

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Mentioning Chainlink once more as Mainnet version 1.0 goes live May 30th.

 

 

This project is probably the most important in crypto.

 

It is already 20% of my portfolio. What other tokens do you like?

 

I don't like other tokens as their use case isn't so clearly necessary to me. If i had to choose a currency I'd say Ethereum.

Off-chain computation with chainlink is absolutely the one.

 

What about bitcoin? you don't hold any bitcoin ?

 

I am sure you know that bitcoin halving is supposed to happen in May of 2020. That will make bitcoin harder than gold. First time in the course of human history that we have a synthetic commodity that is harder than gold.

 

I don't really follow Bitcoin but have recently heard of halving.

 

I see the value in these coins as a utility not a store of value mainly. But I don't deny that Bitcoin will probably be the gold of digital currency.

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