Chainlink attracts another giant: Swisscom
As part of a pilot initiative, telecommunications giant Swisscom is joining Chainlink (LINK) and will now operate a node in its network of oracles. Majority-owned by the Swiss state (51.2% of the shares), the Swisscom company has 19,000 employees and more than 6 million subscribers to its mobile telephone service.
This node will be managed entirely by Swisscom’s digital assets division, and it will feed the oracles network with a multitude of data that will be usable for decentralized finance (DeFi) applications.
According to a statement from the company, its teams “see no end to the growth of decentralized financial applications.” It is certainly for this reason that the telecoms giant wants to join the movement, and position itself directly on one of the most used projects in the DeFi sector.
“We believe that the provision of reliable off-chain data on decentralized networks is a key success factor for the future development of digital assets,” underlined Dominic Vincenz, Head of Fintech Innovation within the business. digital from Swisscom.
Swisscom completes its point by adding that the opportunities in the DeFi panorama are considerable, in particular by pointing out the Uniswap protocol (UNI), thanks to which volumes of several billion dollars are processed daily, without the slightest friction.
“The rapid growth of this market is giving rise to new types of value chains and business models that could also gain relevance for the Swiss financial market,” the company added.
Along with Swisscom, many other tech companies are already operating Chainlink nodes, including another telecommunications giant, this time based in Germany, T-Systems Multimedia Solutions.
Most recently, AccuWeather, the world’s leading provider of weather data and information, also committed to operating a node in the oracles network, in order to bring its data to the blockchain.
👉 Also read – Grayscale adds Chainlink’s LINK to its diversified cryptocurrency fund
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About the author: Clément Wardzala
Editor-in-chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have endeavored to share qualitative content so that the sector is democratized among everyone.
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