Every moment, crypto news gets more interesting, as it seems like a flurry of activities are going on within the crypto sphere with a lot of companies coming up with different blockchain-based ideas. Furthermore, while we have blockchain startups getting involved in different projects, some big companies have decided they do not want to be left behind, and thus they are beginning to join in on the blockchain trend.
Google is one of the big companies getting involved with blockchain and associated technologies. The social media giant has gotten into a partnership with a smart contract company, Chainlink, to bring BiqQuery data to the blockchain network. It may interest you to know that BigQuery is a venture of Google Inc. that deals with business intelligence and data warehousing solution.
The founders of the smart contract startup, Steve Ellis and Sergey Nazarov created Chainlink and SmartContract.com as a way to create a bridge between blockchain-based protocols and traditional sources of data. They are also in partnership with Oracle which is a company that offers database solutions, and SWIFT, a company that brings funds transfer solutions.
According to Nazarov, they intend to come up with the future smart contracts that will function beyond the need for tokenization, and furthermore, their use cases will be dependent on interactions within IoT events, market events, among other use cases. In light of this, it is important to pay attention to the fact that this blockchain project is one of the few ones that Google has given priority, and thus the announcement has put some spotlight on Chainlink, which is good for the smart contract startup, as well as for the social media networking giant, Google.
At the end of it all, Google’s products will be able to effectively interact and communicate with decentralized application, just as a client app will connect with a functional database service. In this case, it is important to note that Chainlink will function as the data intermediary. According to Nazarov, by allowing interactions between Google BigQuery and smart contracts, it will create a plethora of capabilities and possibilities for Ethereum-based decentralized applications, as more accurate prediction markets can spring up based on BigQuery’s data availability and access. Nazarov expressed excitement at working with the Google team to implement the first stage of the project.
Chain Link Coin
The news about Chainlink’s partnership with Google may have been responsible for the surge in the price of Chainlink’s token (LINK), as it went up to a record high of $1.95 for a while, before it experienced a drop to $1.72.
This is a good move in the plan to move blockchain and cryptocurrency to mainstream adoption. It is quite interesting to see a lot of big players in different industries making moves to adopt the technologies for different purposes. Furthermore, the constant discovery of new use cases is indicative of the fact that developers are losing no sleep in exploiting the technologies and discovering several other ways that it can be applied.