Very excited to see Chainlink live on mainnet with Fidelity International and Sygnum Bank for their newly tokenized fund. Having Net Asset Value (NAV) data on-chain is a key part of how tokenized funds work correctly on-chain. For the ecosystem as a whole, having a single standard across DeFi and TradFi for how to agree on a reliable source of net asset value, market prices, reference data, proof of reserves, Identity data, AI issued data and many other types of data, is a key building block for the transition of TradFi on-chain. If both DeFi and TradFi utilize Chainlink as their way for data to flow into and power their smart contracts, then Chainlink's data standards become global standards. As CCIP becomes an increasingly adopted approach for cross-chain in capital markets, Chainlink also becomes a way for cross-chain to work correctly for both value and data. Link: https://lnkd.in/eGGqgmkS
Sef Mutari
3w
Congrats. I think if your story stick to transactions and tokenization and maybe identity would be better than shilling "Data and AI" like most web3 on top of that Chainlink still not 100% decentralized. This is not the case for AI and data you understand that training a model on unstructured data or images which CAN "NOT" live on blockchain stack. If you're answer is references and proofs that doesn't protect privacy, security of the data coz they're living on another storage which blockchain don't control. We spent timeless effort to try to train LLMs with FHE Lattice or Garbled circuits the transformers are not designed to understand training and serving on encrypted data. Also social logins wallet is been already implemented by the Facebook, etc and companies like ID.me and I'm still not talking about training, serving, inference lifecycle and the amount of data that blockchains can't handle. I'm happy if I'm wrong but we spent alot of times trying and I think it's time for the blockchain/crypto to move on.
Nalini Mohan
3w
Congrats Sergey Nazarov 🎉”For the ecosystem as a whole, having a single standard across DeFi and TradFi for how to agree on a reliable source of net asset value, market prices, reference data, proof of reserves, Identity data, AI issued data and many other types of data, is a key building block for the transition of TradFi on-chain.” Read it breathlessly as it is a powerful long sentence!
Max Zab
3w
Another major milestone proving there is a bright future for blockchain technology beyond what traditional finance has been seeing at face-value! Congrats to you and your teams.
The future is now
Phil Gallina
3w
This is monumental, excited to see where this goes.
Chainlink is a critical component to enable the convergence between DeFi and TradFi. Congrats Sergey Nazarov and keep up the great work!! 👏👏👏😃
Great update, Sergey! How will Chainlink ensure the accuracy of NAV data for users like Fidelity International and Sygnum Bank?
Exciting time ahead 🙌
This was a fantastic team effort, initiated by a digitally native client request to Sygnum Bank, who turned to Fidelity International and Chainlink Labs. It is the first of what we several opportunities to monetise the work we have done in this space with The Depository Trust & Clearing Corporation (DTCC). Watch this space!