Brave New Coin (BNC) Crypto Data Provider And Chainlink Partner For Institutional Adoption
Exciting Partnership Announcement Between Brave New Coin And Chainlink
Brave New Coin, the blockchain market data and enterprise solutions firm, has announced a new collaboration with the decentralized oracle network, Chainlink. The Chainlink network connects smart contracts to real-world data. The partnership will seek to accommodate new applications across the different complex financial and legal tools to facilitate the ever-growing demand from enterprise and institutions.
Sergey Nazarov, CEO of Chainlink, welcomes the new partnership stating,
“Chainlink provides on-and off-chain information to some of the most innovative fintech and smart contracts platforms within the global blockchain ecosystem. Our incorporation of the BCN market data will assist us in our mission to accelerate blockchain adoption in traditional industries, including the legal and wealth management sectors.”
His words ascertain the possibility of the incorporation of BNC data to the Chainlink network as a means to ensure greater accuracy and reduce the risk for financial partners and legal professionals.
“We are confident that our data collaboration with BNC will catalyze a new era of smart contract applications. Asset managers and investors can expect the near-term introduction of decentralized cryptocurrency derivatives and legal contract, which offer enhanced flexibility and security for market participants, “adds Nazarov.
Brave New Coin CEO and Founder, Fran Strajnar further supports the relationship by adding his sentiments:
“Many institutions are showing an interest in creating crypto derivatives in the place of traditional financial instruments; we are working with Chainlink to provide the institutional-grade market data necessary to create the flexible tools expected by major financial service providers, international businesses and law firms before they enter the crypto sphere. These are the type of mature, real-world applications necessary if blockchain is to break into the mainstream to meet growing demand from institutions and enterprises.”
The outcome would give Fintech platforms like MARKETProtocol, using Chainlink oracles an advantage to create cryptocurrency financial derivatives such as swaps, futures, and options.
Additionally, platforms seeking to decentralize legal contracts or automate their smart contracts can safely execute and settle their fiat currency agreements by using cryptocurrency at the moment-of-payout exchange rates. The option mitigates the risks of using cryptocurrency to solve legal contracts, due to the asset's price volatility and market fluctuations.
The Chainlink network allows for smart contracts to reach full potential by providing tamper-proof inputs and outputs. The decentralized oracle network has a goal to connect blockchain technology to off-chain infrastructure and bridge the gap between smart contracts and access to data feeds. The parent company was started in 2014 and is a development of SMARTCONTRACT™ together with Sergey Nazarov (CEO) and Steve Ellis (CTO). Its native token, LINK, is used to pay node operators working to retrieve data from the off-chain data needs, off-chain computation, formatting of data into readable blockchain formats and uptime guarantees.
About Brave New Coin (BNC)
Brave New Coin is a cryptocurrency analysis website that is renowned for its market and analytical insights. The data and research company was founded in 2014 and holds the most extensive collection of market data in the digital currency industry.