Blockchain
By James Thorp
1 / 13
ChainLink (LINK) Sergey Nazarov on Single Source of Truth
2 / 13
Sergey Nazarov in the past spoke about how smart contracts influence the asset management industry, and how they will act as a single superior source of truth.
3 / 13
Sergey Nazarov, CEO of Chainlink tweeted: “It seems likely DeFi will be adopted by existing financial institutions as a new financial product.
4 / 13
A smart contract consists of a code running on a network of computer sets beyond the control of any one party, private key holders, which sign approving certain transactions and…
5 / 13
We work primarily on the oracles in enabling the interaction between the contract and both the external data and enterprise system.
6 / 13
It helps to understand certain categories of assets. They are large categories, billions, sometimes trillions worth of assets and them how those categories function.
7 / 13
Sydney Ifergan, the crypto expert tweeted: “ChainLink (LINK) Sergey Nazarov has established the importance of the single source of truth fairly well, thus serving as a key to…
8 / 13
You see huge fragmentation of siloes of data in the individual institutions participating in the asset transactions.
9 / 13
This increases both the complexity for the internal risk assessment and management of assets which increases the costs, which are then passed over to your users, but even beyond…
10 / 13
So the asset manager has the ability to impose certain structural changes on the market by virtue of purchasing power alone.
11 / 13
Single source of truth is the value proposition. The outcome that blockchain seek to deliver. And, they deliver these different things in different markets.
12 / 13
And, the ability to continue the update of single record. If you don’t have a single record that all the parties can access, then everybody are keeping their own record, and my…
13 / 13
However, if we have a single source of truth that we all trust. We can all appendage with additional useful information.
The Currency Analytics
Want the full story?