Chainlink (LINK) just got recognized by the World Economic Forum as a “technology pioneer” ๐จ This article is 4 years old...
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Chainlink (LINK) just got recognized by the World Economic Forum as a “technology pioneer”
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Updated: Jun. 17, 2020 at 8:55 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Blockchain agnostic platform Chainlink is now recognized as a โtechnology pioneerโ by the prestigious World Economic Forum (WEF), as per a release this week. MakerDAO, a DeFi-centric project, Lightning Labs, and Bitcoin analytics firm Elliptic were other awardees.
Chainlink made the list among hundreds of other blockchain and cryptocurrency companies. Lately, the former project has been forming partnerships and getting its protocol onboarded to several other crypto projects, while the latter is making advancements in DeFi-focussed areas.
Weโre honored that @wef has selected @Chainlink as a 2020 TechPioneer! #techpioneers20 https://t.co/CDI4a7zWFS
— Chainlink – Official Channel (@chainlink) June 16, 2020
Significant impact
World Economic Forum’s technology pioneers are early to growth-stage companies are involved in work towards the design, development, and deployment of disruptive technologies and innovations. The Forum earmarks such firms to have a โsignificant impactโ on business and broader society.
Pioneers are selected based on the community criterias, which includes innovation, impact, and leadership as well as the company’s relevance with the World Economic Forum’s other platforms.
Most pioneers work in the fields of AI, IoT, robotics, blockchain, biotechnology, and fintech firms that world towards a more inclusive, technologically-forward society.
As a perk, Chainlink co-founder Sergey Nazarov can personally participate in World Economic Forum activities, events, and discussions in 2020 and beyond.
The firm can also, by virtue of its inclusion, contribute to various forum initiatives until 2022, working with policymakers and private sector leaders to help define the global agenda on key issues.
Nazarov spoke on the development:
“We’re proud to play a role in bringing accountability and automation to global and local economies, and we look forward to contributing to Forum dialogues on this challenge.”
Google, Airbnb past recipientsย
With the award, Chainlink, MakerDAO, and Lightning Labs join a cohort of high-profile startups which went on to become household names. Examples include Airbnb, Google, Mozilla, Spotify, TransferWise, Twitter, and Wikimedia.
Decentralized oracles and the verifiable randomness function (VRF) are currently spearheading Chainlinkโs growth. The former enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments, as per Chainlink’s official blog.
Just last week, AVA Labs and Opium Network adopted oracles for the input of verifiable price feeds to their respective platforms. Meanwhile, non-fungible token centric project ChainFaces launched its mini-golf game over the weekend, which, as CryptoSlate reported, uses Chainlinkโs VRF to ensure fair outcomes.
NFT devs @natealex6677 & @skylerfly from the generative art project ChainFaces are using #Chainlink VRF to power the spin-off game FaceGolf. Chainlink VRF will be used in determining the outcome of golf matches, the random creation of new #NFTs and more https://t.co/OHCh1NYj2o
— Chainlink – Official Channel (@chainlink) June 12, 2020
Chainlinkโs oracles are used beyond crypto projects. Markets Insider notes Google, Oracle, and SWIFT use oracles in some capacity, while smart contracts firms Polkadot, Synthetic, Aave, among others, utilize oracles heavily in their protocols as well.
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In this article
Chainlink is a decentralized oracle network that connects smart contracts on the blockchain to real-world data.
Maker
$1,574.45
Maker is a decentralized autonomous organization on the Ethereum blockchain seeking to minimize the price volatility of its own stable token โ the Dai โ against the IMFโs international currency basket SDR.
Lightning Labs
Lightning Labs is developing Lightning: an open protocol layer that leverages the power of blockchains and smart contracts to make cheap, fast, private transactions available to anyone around the world..
Elliptic
Elliptic empowers financial institutions and crypto businesses to confidently manage risk and meet AML regulatory compliance worldwide.
Maker is a Decentralized Autonomous Organization that creates and insures the dai stablecoin on the Ethereum blockchain.
Sergey Nazarov began his career building peer-to-peer marketplaces, going on to the investment team at FirstMark Capital.
