The post Chainlink leverages AI to bring on-chain market data appeared on BitcoinEthereumNews.com.

Chainlink has launched an initiative that combines AI, blockchain, and oracles to bring unstructured market data on-chain. To do this, the crypto analysis company has involved eight major financial institutions such as UBS, Franklin Templeton, and Sygnum Bank, and three partners from the blockchain ecosystem.  Chainlink: combining AI, blockchain, and oracles to bring on-chain unstructured market data Chainlink, the renowned crypto company, has launched an initiative to tackle the challenge of unstructured data for the financial sector. Here is how it is described on the official website: “This initiative leverages cutting-edge artificial intelligence models and an institutional-grade Oracle infrastructure to create unified gold records of corporate action data that operate across multiple blockchains. Euroclear, Swift, UBS, Franklin Templeton, Wellington Management, CACEIS, Vontobel, and Sygnum Bank participated.” In practice, Chainlink’s initiative aims to combine AI, blockchain, and oracles to create unified gold records of corporate action data that operate across multiple blockchains.  To succeed in this endeavor, Chainlink has involved two financial and market infrastructures Euroclear and Swift, and six financial institutions such as UBS, Franklin Templeton, Wellington Management, CACEIS, Vontobel, and Sygnum Bank. Not only that, the initiative also saw the participation of three partners from the blockchain ecosystem: Hyperledger Besu, Avalanche, and ZKsync.  From what has emerged, the initiative has successfully demonstrated how Chainlink’s decentralized oracles can be used in combination with large language models (LLM) to validate and provide critical financial data on-chain.  The LLMs used include ChatGPT 4o by OpenAI, Gemini 1.5 pro by Google, and Claude 3.5 sonnet by Anthropic. The Cross-Chain Interoperability Protocol (CCIP) by Chainlink was then used to securely move corporate action data onchain across various public and private blockchains. Chainlink and its initiative that combines AI, blockchain, and oracles for corporate data on-chain Essentially, the new initiative by Chainlink aims to address…

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Filed under: News - @ October 22, 2024 10:22 am