Swisscom is joining Chainlink, the world’s largest oracle network, as part of a pilot initiative. The Chainlink network provides important data for what are known as decentralised financial applications (DeFi), through which transactions worth several billion US dollars are now processed daily, such as on Aave and Uniswap. The rapid growth of this market is giving rise to new types of value chains and business models that could also gain relevance for the Swiss financial market.
Swisscom’s Digital Asset division is responsible for the pilot initiative and for ensuring the operation of what is called an oracle node, which will continuously feed digital asset price data into the Chainlink network. Swisscom is thus assuming an important role as a supplier for rapidly growing decentralised financial applications.