- Chainlink integrated 34 services across 14 blockchains, including Arbitrum, Base, Solana, and Hedera.
- The protocol reaffirmed its collaboration with Swift to incorporate blockchain into global financial transactions, with plans for banks to trial digital asset transactions next year, advancing blockchain adoption in traditional finance.
- Chainlink co-founder Nazarov also highlighted the integration of AI to expand blockchain’s capabilities in programmable finance.
Chainlink (LINK) is becoming more prominent than ever in the Decentralised Finance (DeFi) world, as it has recently integrated 34 of 8 different Chainlink services across 14 blockchains.
These chains include popular Ethereum layer-2s like Arbitrum, Base, and Linea, as well as some leading layer-1s like Solana, Tron, and Hedera.
Related: Blockchain Breakthroughs: Chainlink Joins Bitcoin as Cardano Integrates $1.3T in BTC Liquidity
Chainlink Connecting DeFi and TradFi
Chainlink’s annual SmartCon conference, held in Hong Kong on October 30-31, brought together finance and blockchain leaders to explore the synergy between DeFi and traditional financial systems.
Chainlink co-founder Sergey Nazarov was one of the keynote speakers at SmartCon 2024. He reaffirmed Chainlink’s commitment to bridging traditional and decentralised finance, with discussions centering around asset tokenisation, technological innovation, and the cryptocurrency market.
The asset tokenisation sessions delved into central bank digital currencies (CBDCs), tokenised deposits, and stablecoins, focusing on how blockchain can represent real-world assets, from debt funds to green assets like carbon credits.
Related: Real-World Asset Tokenisation Set for Explosive Growth, Predicts Report
Regarding traditional banking, the protocol is also deepening its efforts to integrate blockchain technology into the traditional financial system, as it is collaborating with the Society for Worldwide Interbank Financial Telecommunication (Swift) to enable secure, blockchain-based transactions within Swift’s global network.
Swift plans to allow banks to trial digital asset transactions starting next year, a significant step in integrating blockchain with mainstream financial services.
AI, DeFi, and TradFi
On the technology front, Chainlink highlighted its Cross-Chain Interoperability Protocol (CCIP), which is designed to link different blockchain networks and facilitate secure asset transfers across platforms.
This interoperability aims to enhance blockchain’s role in TradFi, enabling seamless transactions and communication across diverse financial networks. The sessions also highlighted how artificial intelligence (AI) could be integrated with blockchain to expand capabilities in programmable finance.
Despite so many advancements and positive developments, LINK’s price, however, has been on a rollercoaster for the past 30 days, as data from CoinMarketCap shows.
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