#Chainlink ⛓️ is taking the flexibility of the Internet and wrapping it in cryptographic truth to unleash the 4IR. Enlisted ⛓️ 🪖 Jan 2018.
Joined March 2021
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LinkDrake retweeted
considering how much crypto twitter seems to be stuck in the fantasy that A blockchain could replace the global financial SYSTEM - i asked grok to create a simple hub and spoke diagram of how the Global Hub and Spoke with Swift and DTCC sitting at the center actually looks like.
Everything. $LINK'ed.
Fundamentally it has already been decided, there won't be two "trust networks" as there is not two "internets", there can only be one TCP/IP of crypto.
The institutions have already chosen and they are simply moving into production.
This is the reality.
Yes XRPL developers will need to adopt Chainlink CRE in order to remain relevant to connect to the institutional systems.
This isn't a speculatory concept anymore, this is how it is.
XRPL is siloed, it would require Chainlink to connect it to Swift / DTCC / other systems.
Which is the logical path for them to take if they want to be relevant.
Which is why its distributed economic security will start to fail eventually and result in centralization.
Uh-huh
𝗧𝗵𝗶𝘀 𝗶𝘀 𝘄𝗵𝗮𝘁 𝘁𝘂𝗿𝗻𝗶𝗻𝗴 𝗖𝗵𝗮𝗶𝗻𝗹𝗶𝗻𝗸 𝗖𝗥𝗘 𝗶𝗻𝘁𝗼 𝗮 𝗿𝗲𝘃𝗲𝗻𝘂𝗲 𝗲𝗻𝗴𝗶𝗻𝗲 𝗹𝗼𝗼𝗸𝘀 𝗹𝗶𝗸𝗲.
Chainlink's CRE billing code has taken a big step toward production.
PR #23858 meters every CRE workflow run by compute time, in milliseconds. It's moved out of draft and is now marked "Verified on Staging."
Staging is the final dress rehearsal where the real thing gets tested before it ships. Nodes are already producing these usage receipts and Chainlink's billing pipeline is receiving them.
And alongside it, the team is building tools to audit the bill itself, deliberately feeding in bad usage data to prove the system catches it.
You don't build audit tooling for something you never plan to send to production.
The funniest part: every node records your usage independently and the bill is the median. Even your invoice is decentralized. Chainlink are even putting the bill through consensus. 😂
And as we saw from the Fulcrum x DTCC demo at Sibos, these CRE workflow fees (orchestration fees) are paid in LINK.
ethereum:0x514910771af9ca656af840dff83e8264ecf986ca
LinkDrake retweeted
it took 21 years of Swift, Central Banks and BIS pushing banks and other FMI - after multiple delays because they weren't ready - for ISO20022 to become mandatory in 2025.
now do blockchain. without Swift driving adoption in a way that does no harm to existing flows nor causes additional fragmentation to the world's economy.
there is no switch to flip. a blockchain does not unwind 50 years of network effects, technical debt and trust.
if we want to bring all the worlds systems onchain - then the onchain systems have to be interoperable with the offchain systems - until such time the offchain systems become onchain systems. They learned their lesson more than once. Theyre done with vendor lockin. Theyre done with technical debt. Theyre done with incompatible systems.
The future-proof Chainlink Abstraction and Orchestration Layer and data standards fixes this.
$LINK is the only way
Tfw the DTCC ended up being the one that is going to kick off bootstrapping authoritative decentralized digital identity 🤗
Back in reality
xitter.cf/nullpackets/status/211…
>maybe there are industry plants
jfc its been right in front of you all - all along.
DeFI was Chainlink's battle testing grounds.
ethereum was Chainlink's loss leader.
Institutions have been building for the past decade. And they built their systems according to their - and their counterparties and clients - exact requirements for how they would securely implement private and public chains into their existing systems and workflows.
Orchestrated by the Chainlink Runtime Environment.
Payable in $LINK.
Back in reality
xitter.cf/nullpackets/status/211…
>maybe there are industry plants
jfc its been right in front of you all - all along.
DeFI was Chainlink's battle testing grounds.
ethereum was Chainlink's loss leader.
Institutions have been building for the past decade. And they built their systems according to their - and their counterparties and clients - exact requirements for how they would securely implement private and public chains into their existing systems and workflows.
Orchestrated by the Chainlink Runtime Environment.
Payable in $LINK.
LinkDrake retweeted
>maybe there are industry plants
jfc its been right in front of you all - all along.
DeFI was Chainlink's battle testing grounds.
ethereum was Chainlink's loss leader.
Institutions have been building for the past decade. And they built their systems according to their - and their counterparties and clients - exact requirements for how they would securely implement private and public chains into their existing systems and workflows.
Orchestrated by the Chainlink Runtime Environment.
Payable in $LINK.
"Any asset, […] any jurisdiction, with any custodial system, any time of day is now mobile in terms of collateral. This truly changes the game.”
- Dan Doney, CTO of @The_DTCC
This is so funny
xitter.cf/beaniemaxi/status/2113…
