BCGAME - Free 5BTC Daily Bonus!- Chainlink Expands Financial Partnerships with Blockchain and AI
- Chainlink and UBS partnership automates corporate data
- Franklin Templeton Adopts Chainlink for Blockchain Data
Chainlink, a leader in decentralized oracle networks, has entered into a strategic collaboration with renowned financial institutions including Franklin Templeton, UBS, Vontobel, and Swiss bank Sygnum. The partnership aims to transform operational processes in the fintech sector by leveraging blockchain, AI, and oracle technologies to simplify and standardize the distribution of critical corporate data, including mergers, dividends, and stock splits.
Currently, managing this data presents significant challenges, with manual operations generating high costs due to recurring errors. With the adoption of blockchain and AI, the expectation is to considerably reduce these inefficiencies, enabling substantial savings for companies and enhancing the accuracy and agility of financial data.
Chainlink’s proposal is based on a solution called “Unified Golden Record,” which uses Cross-Chain Interoperability Protocol (CCIP) technology to securely distribute verified corporate action data in real time across multiple blockchain networks, including Avalanche, ZK Sync, and Hyperledger. This system ensures a single source of truth for market participants, eliminating discrepancies and inconsistencies in financial data.
The solution framework also integrates Large Language Models (LLMs), Decentralized Oracle Networks (DONs) and a multi-blockchain network, bringing an automated and interconnected approach to data processing to the financial ecosystem. This will give institutions such as Franklin Templeton and UBS instant access to accurate and standardized data, facilitating decision-making and providing a solid foundation for the creation of new financial products and services.
Stéphanie Lheureux, Director of Euroclear’s Digital Assets Competence Center, emphasized the potential of collaboration: “By collaborating across the industry and leveraging cutting-edge technologies, we can address key pain points and redesign workflows for greater efficiency, transparency and value. With proper implementation, co-creation enables AI and DLT to amplify each other’s strengths, creating golden records accessible to everyone in real time and paving the way for transformative solutions.”
At the time of publication, the LINK price was quoted at US$12,32, up 0% in the last 24 hours.
