The Associated Press joins the blockchain in partnership with Chainlink. future of money

The Associated Press (AP) news agency, which is 175 years old, will provide data on sports, economics and elections for Chainlink, a system that brings real-world information and data to the blockchain and allows it to be used in construction. Is. Digital contracts and their related transactions.

The partnership announced this Thursday is yet another example of a reputable and world-renowned brand embracing blockchain technology, while also demonstrating Chainlink’s plans to expand the reach of decentralized finance (DeFi) to new realms. Know more on what is defi?

“We believe that blockchain represents a whole new economy,” said AP Blockchain and Data Licensing Director Dwayne Dessolniers. “And as a new economy, it just needs a lot of input, a lot of trust and a lot of collaboration. What we see now is gaining a lot of traction, and blockchain being accepted in half the time. that has given the Internet billions of users.”

The choice of APs to provide data for multiple blockchains through Chainlink has meant a significant increase in how data sources value smart contracts, as well as a significant increase in smart contracts using AP data, the co-founder said.

“Just as we have seen the rise of decentralized finance (DeFi), the speed at which Chainlink oracles can bring new data to the blockchain, is the speed at which blockchain developers can build new applications for users,” Nazarov said. “With AP providing data on elections, sports and many other major events around the world, the DeFi markets of the blockchain ecosystem will now be able to access a range of topics that were previously inaccessible.”

 

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The AP had already joined forces with Chainlink in the 2020 US elections, when the news agency posted a follow-up to the results on the Ethereum blockchain. Furthermore, AP has proven itself to be an ardent champion of the new NFT boom, selling its first non-fungible (NFT) token in early 2021.

Not only will the agency publish this year’s US election follow-up on its newly launched oracle node on Chainlink, but it will also provide a whole new array of economic and sports-related information. Desaulniers said macroeconomic and sports data is expected to be added in the weeks following the election later this year.

“We will be bringing things like GDP, unemployment rates, consumption indices and other reliable AP data to the blockchain, which we will post on our nodes so that developers can access them,” Desolniers said. “Sports will be another area: not only sports scores, but also instant news about players, transactions, injuries.”

AP, which operates as a non-profit group owned by its newspapers and broadcasters, has grown by disrupting online publishing by diversifying its revenue channels. statistics on-chain They’re just another locality to explore, Desaulniers said.

“Absolutely, we want to monetize the data put into the blockchain,” he said. “But you know, how much and at what cost? It’s too early, and these things have yet to be figured out. And for our part, that’s fine.”

Text translated by Mariana Maria Silva and . Reprinted with authorization from coindesk

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About the author: Sarah Gracie

"Proud social media buff. Unapologetic web scholar. Internet guru. Lifelong music junkie. Travel specialist."

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