As one of the largest software companies in the world, Oracle is always making waves in the cryptocurrency news. Even though it is not listed all of the time, when it does – its plans are always viral. The recent blockchain news come from the Oracle startup division which referred back to its June plans when it unveiled an initiative that will help select startups to monetize their APIs using the decentralized Chainlink (LINK) technology.
The oracle Chainlink technology will help the major software giant to pave the way for later oncomers to the initiative, which will also see Chainlink’s oracles used in tandem with smart contracts on the Oracle Blockchain Platform.
Aside from this, the Oracle startup division wants to use this trial meld to help at least 50 startups to sell their data – and the 430,000 customers that Oracle has.
“The goal of the project is to enable an ecosystem where startups can generate new revenue from smart contracts executed on the blockchain through the monetization of APIs hosted on the Oracle Cloud infrastructure and through the collaboration with Chainlink and API marketplace providers,” said Amy Sorrells, who is the global comms director at the Oracle startup division.
The companies listed in the program are varied in their business vision and range in terms of their location. Some are in Brazil, others are in India and all are practically scattered all over the world. Together, they will strive to sell their data using the LINK oracles. If this work proves successful, their differences will point the way to how businesses of all stripes could explore similar monetization plans in the future.
The companies listed by the Oracle startup division include the names of Agropacking Solutions, AtCash, bluField, CashPundit, Constellation Group, Credits, Crowdz, CyNation, DriveOn, GravelCoin, Insolar, Ld8a, LotsApp, MaxCentive, North East, Quant Network, retraced, Snapper Future Tech and World Law.
“[Our] team will work with the selected startups to launch Chainlink nodes on Oracle Cloud Infrastructure (OCI) … and will capture best practices for developing smart contracts that integrate to Chainlink to help build knowledge that will benefit this ecosystem,” Sorrells noted.
So far, the Chainlink news show that the cryptocurrency and its technology have seen major interest from big companies.
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