Swift Completes Blockchain Smart Contracts Trial
Interbank messaging platform Swift has completed a blockchain proof-of-concept in partnership with startup SmartContract.
The proof-of-concept, revealed today, is the first project to use SmartContract’s ChainLink v1.0, which lets users connect smart contracts to data feeds, web APIs and a number of payment methods.
While few details about the project have been released, SmartContract founder Sergey Nazarov told CoinDesk:
"We have successfully completed a phase one PoC with Swift, and are in active conversations about how to move further with the work we've done."
The news coincides with the startup's rebranding of the ChainLink product, which was previously titled SmartContract Oracle.
Token sale
Founded last year, New York-based SmartContract was one of several blockchain startups to be selected by Swift to win a contract at its 2016 Sibos conference. A representative of Swift confirmed to CoinDesk that it is a SmartContract customer. Swift is currently working on multiple blockchain projects with various vendors.
Since being awarded the contract, SmartContract has also partnered with Ari Juels from blockchain think tank IC3 to provide authenticated data on the daily ether-to-US dollar conversion price for the TownCrier oracle.
Notably, the startup is currently preparing for a pre-sale of its own cryptographic token called LINK, with a public crowdsale to follow.
According to SmartContract, the token will be used to power its network. An email sent to users explains:
"The LINK token will be used to pay ChainLink node operators for participating in a ChainLink network, allowing the creation of fully decentralized oracle networks."
Company logo image via Swift.
Source: http://www.coindesk.com/swift-completes-blockchain-smart-contracts-trial/
I doubt they will be able to create a system as secure as bitcoin, not to mention the fact that it will be a centralized system.
Thanks for sharing!
swift is trying to save their ass before they ripple takes them over, LOL they are fucked either way
New Coin will bring more competition. which is good for growth... followed and upvoted
I have a feeling ripple will take over....
Awesome and IBM signed on 7 major european banks -- blockchain is going to be very mainstream very fast... do we have the computing power?
Cool article, just upvoted you.
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Best regards
Alex