Swisscom will turn into a Chainlink node operator

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Switzerland-based telecommunications firm Swisscom has stated it would be part of Chainlink’s oracle community as a node operator. 

In a Thursday announcement, the telecommunications agency stated it could be coming into the decentralized finance, or DeFi, area by turning into an oracle node operator as a part of a pilot program with the Chainlink community. The node, run by Swisscom’s digital asset division, will “constantly feed digital asset value knowledge” to the community and permit functions on Chainlink to raised settle monetary contracts.

“Making dependable off-chain knowledge out there on decentralized networks is a vital success issue for the longer term growth of digital belongings,” stated Swisscom Digital Enterprise fintech innovation supervisor Dominic Vincenz.

Swisscom stated the alternatives out there within the DeFi area have been vital given the “growing shift of transactions, contracts and belongings to blockchain-based infrastructures.” Though the corporate solely specified it could be performing as a Chainlink node operator, its digital asset staff stated it noticed “no finish in sight to the expansion of decentralised monetary functions.”

Associated: Deutsche Telekom’s T-Methods Is Now a Chainlink Node Operator

Cointelegraph reported in July that Chainlink had been onboarding associate integrations at a price of greater than 1.4 every day, with roughly 300 completely different crypto tasks having joined the community this 12 months. These third-party integrations embrace Coin Metrics in addition to a number of blockchain-powered video games that are possible permitting Chainlink to safe billions of {dollars} via good contracts.

With 51% of it owned by the Swiss authorities, Swisscom at present has greater than 19,000 staff and greater than 6 million cell subscribers.