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Chainlink (LINK) just got recognized by the World Economic Forum as a “technology pioneer”

Chainlink (LINK) just got recognized by the World Economic Forum as a “technology pioneer”

Blockchain agnostic platform Chainlink is now recognized as a “technology pioneer” 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.

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 “significant impact” 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.

(Chainlink’s Nazarov speaks at an event. Source: SlidesLive)

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 recipients 

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 Chainlink’s 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 Chainlink’s VRF to ensure fair outcomes.

Chainlink’s 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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