Telecom giant Swisscom now operates a Chainlink node (LINK)

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

Newsletter 🍞

Receive a recap of crypto news every Sunday 👌 And that’s it.

What to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliate. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and cannot be held responsible, directly or indirectly, for any damage or loss caused as a result of the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and invest only within the limits of their financial capacity. This article does not constitute investment advice.

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.
All articles by Clément Wardzala.

Back to top button