Over the next 10 years, it is projected that 10% of global GDP will be put into blockchains, with most relying on smart contracts. But as of right now, smart contracts are limited in their ability to mimic 90% of contracts that need external proof and existing payment mechanisms to become valuable.
Since the technology came into existence over three years ago, SmartContract has been enabling smart contracts to be the killer application of blockchain technology. The company has now completed a phase 1 implementation with the largest global payments providers, SWIFT, using their recently announced ChainLink, which connects smart contracts to data feeds, web APIs, and various payment methods. This successfully bridges the gap between off-chain bank payments, and on-chain smart contracts. As the work continues between SWIFT and SmartContract, ChainLink will allow smart contracts to use 11,000 banks, giving them the ability to make bank payments happen from smart contracts.
SmartContract founder and CEO told American Banker recently that, “Without data inputs and without payment outputs that users want to receive, it’s difficult to imagine a financial agreement of any worth,” said Sergey Nazarov, SmartContract’s founder and CEO.
Next for SmartContract is its public token sale for its ChainLink token LINK in September.
The Crowdsale is Capped at $32,000,000
Total Token Supply of 1,000,000,000 LINK to be distributed:
- 35% going to Node Operators to Incentivize the Ecosystem
- 35% will be sold in the Public Token Sale
- 30% will go to the Company for Continued Development
Since 80% of blockchain use cases require smart contracts, and 90% of smart contracts require blockchain middleware like SmartContract’s recently announced ChainLink, 72% of all blockchain-based application requires this functionality. ChainLink will be the easiest way for Banks, Fintechs, Insurtechs, Internet of Things and Web products to add smart contracts to their existing application, making it an enabling accelerant for rapid smart contract adoption.
For more information or to get involved on the presale visit: https://smartcontract.com/link
