Associated Press (AP), an independent global news organization, has disclosed its plans to run a Chainlink oracle node which will publish data for blockchains through Chainlink’s blockchain oracle network.
The decision to run a Chainlink oracle node comes, according to AP, based on the positive response from blockchain developers, who have for some time sought trusted data from a reliable news agency that could help them further develop the crypto and blockchain space. AP says that its strategic move towards shifting into blockchain technology was to build and bring trusted data to the public, serving “a publicly accessible, safe and secure record of verified information.” on the blockchain and beyond.
The agency said its primary reason for the shift to blockchain was “trust,” in that the on-chain data it provided would be “a publicly accessible, safe and secure record of verified information,” with Chainlink as its integral collaborator for the process.
“Chainlink technology is the ideal way to provide smart contract developers anywhere in the world with direct, on-demand access to AP’s trusted economic, sports, and race call data. Working with Chainlink allows this information to be compatible with any blockchain. The open-source software is reliable, secure, and widely used across leading blockchain networks.” shares Dwayne Desaulniers, AP’s Director of Blockchain and Data Licensing.
Founded in 1846, AP has been one of the most trusted news organizations for factual reporting. It also serves the news industry with essential technology and services that are key to the success of news platforms across the world.
AP says that it has been keeping "a finger on the pulse of the blockchain economy,” and that the Chainlink oracle node’s dataset can be leveraged to “automate key processes that happen on-chain, including informing markets of election race calls, triggering an on-chain trade when a company’s quarterly financials are released, or augmenting the appearance of non-fungible tokens based on real-world events.” Because they are built with blockchain technology, data from the oracle networks are tamper-proof and easily verifiable.
Chainlink, its collaborator in the oracle node’s planning and implementation, is recognized in the crypto and blockchain space as a bearer of industry-standard services for building, accessing, and selling oracle services required to run hybrid smart contracts across a range of blockchains and their specific protocol’s parameters.
Chainlink’s oracle networks provide smart contracts with external API integration, enabling secure off-chain computations that unlock advanced blockchain applications such as decentralized finance, insurance protocols, gaming platforms and metaverses, as well as other industries and sectors such as blockchain security and analytics.
AP’s collaboration with Chainlink follows its earlier initiatives at applying blockchain technology to professional journalism. In 2018, the agency partnered with Civil, a blockchain-based journalism startup, to explore applications of blockchain technology to secure intellectual property rights, create support networks for ethical journalism, as well as track content usage for responsible publishing and authorship. In 2020, in the aftermath of the U.S. presidential election, AP published verified poll results on the Ethereum and EOS blockchains.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.