The Most Underrated Crypto Project

Faith in the global financial system will be restored through Encryption Technologies 

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Chainlink? 

In simple terms, the Chainlink network provides tamper-proof conflict-of-interest-free infrastructure in a cryptographically reliable way.
PoR - Proof of Reserve

• Publicly Proving you have the assets to cover the liabilities

• PoR incentivizes entities to act truthfully to maintain their reputation

• Removes friction from transactions (cheaper - faster - efficient)

• Allows traditional finance to access all blockchains (decentralized finance applications) with a single input

• Verify truth without revealing privacy data 
• The Need for Trust will increase as A.I generated deep fakes threatening gov/Social Stability 

By far, Chainlink is the most dominant Oracle network. It is a monopoly in the making whose use-case reaches outside of the crypto space. Within the Crypto space, Chainlink can't go away because of how widely used it is as the Oracle network. Basically, every single Defi project and almost every single chain utilizes Chainlink to fetch data. 

• Google is the Dominant Information network.
• Apple is the dominant Mobile network.
• Meta is the dominant Social network.
• Tesla is the dominant Electric vehicle network
• Amazon is the Dominnat Retail network 
• Chainlink is the Dominant Blockchain Oracle network

What is an Oracle?

Oracle Networks are used to bring real-world data into the blockchain ecosystem. This allows for smart contracts to execute the application function. 

• Oracle networks are decentralized, so their not controlled by a single entity.
• Tamper Proof, so the data can't be tamped with.
• Basically secure (tamper-proof), reliable (constantly being updated), and transparent (auditable)

• Cost: Using blockchain oracle networks can be expensive, especially for high-volume applications.
• Complexity: Blockchain oracle networks can be complex to set up and use.
• Regulation: The regulatory landscape for blockchain oracle networks is still evolving.

Data Manipulation

The conflict of interest problem has been something that the global financial system has had, as a part of it, for a very long time. This problem arises when individuals (Bernie Madoff) or institutions (FTX) are incentivized to manipulate the system for their own gain. This can lead to several negative consequences, including market crashes, financial crises, and the loss of investor confidence. 

• FTX scandal

• Terra Luna collapse
• The Libor Scandal
• Enron Scandal
• Archegos collapse
• Three Arrows Capital collapse
• Celsius collapse

The Chainlink Oracle Network solved this data and market manipulation issue by providing data that is truly reliable and resistant to data manipulation.

Proof of Reserve - PoR

Even if you were a very big actor with a lot of money, even if you're a market maker or a hedge fund, you cannot go and manipulate the Chainlink data source in order to steal and extract value. 

SWIFT

​THE details of SWIFT & LINK​
SWIFT  (Society for worldwide interbank financial telecommunication) is partnering with Chainlink to solve remittance inefficiencies.​SWIFT is a global financial messaging network that enables financial institutions worldwide to securely exchange information & electronic messages about financial transactions. They Specialize in Remittance​Remittance: the transfer of money from one party to another. Think of all the money transfer services. 

• Moneygram: one of the oldest and most well-known money transfer companies. It has a network of over 500,000 agents in over 200 countries.​

• Western Union: another major money transfer company. It has a network of over 350,000 agents in over 200 countries.​
• Paypal and countless other services.

Cross Chain Interoperability - CCIP

• Removes friction from transactions (cheaper - faster - efficient)

• Allows traditional finance to access all blockchains (decentralized finance applications) through with a single input

• High fees due to multiple banks being involved lead to multiple "haircuts"
• Long delays in delivery times: some transfers can take up to 5 days
• Exchange rate limitations can lead to higher fees and transfer limits
• Lack of transparency hurts the reputation
• Fraud is outright nasty

​To create a truly interoperable Web3 ecosystem, data and value needs to be able to move seamlessly between chains​

Tokenization

​Tokenizing Gold

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This is why Bank of America says Chainlink is the "likely driver of decentralized finance."  and former Google CEO, Eric Schmidt has come out of retirement to work with this project.

Big Tech & Chainlink

​How Amazon is using Chainlink​
How Google is using Chainlink
​How Intel is using Chainlink​
​How Oracle is using Chainlink​

Zero Knowledge Proof - ZKP

Validating truth without giving up dataDECO is a privacy-preserving oracle protocol. Using cryptographic techniques, it lets users prove facts about their web (TLS) sessions to oracles while hiding privacy-sensitive data. With DECO a user can, for instance, prove to an oracle that:

• She's over 18, according to her online U.S. State Department account...without revealing her account password or birthdate (or even her name!) to the oracle. 
• She's won a bet against another user in a smart contract...without revealing what the bet was. 
• She walked 10,000 steps a day for the past month according to the data on her fitness tracker website...without revealing any other health or personal data.

More Use cases

Defense Against AI

In the realm of nuclear weapons, uranium serves as the fuel that enables their devastating power. Similarly, in the domain of artificial intelligence, data acts as the fuel that powers AI systems and their capabilities. However, just as nuclear weapons pose risks if misused, AI weapons also have the potential to manipulate or disrupt economic and political systems. This is where smart contracts come into play:Fueling AIData, like uranium, is crucial for AI systems to function effectively. AI algorithms require diverse and quality data to learn, make predictions, and make informed decisions. However, without proper safeguards, AI systems can exploit data to manipulate or influence economic or political systems, leading to undesirable consequences.These types of Scandals will get worse when Bad actors are powered with AI
Risks of AI ManipulationAI has the potential to exploit biases in data, engage in misinformation campaigns, or manipulate decision-making processes in economic or political domains. This can result in unfair advantages, market distortions, or even the subversion of democratic processes. Similar to the risks associated with nuclear weapons, AI manipulation poses significant challenges that need to be addressed.AI-generated misinformation will increase in volume and magnitudeHere's a Fake image of Pentagon explosion