The integration between CrescoFin and Chainlink is expected to open new avenues of growth for the entire ecosystem of the blockchain. CrescoFin has the distinction of being one of the few regulated entities in the world, offering the facility of decentralized finance (DeFi) to users. By associating with Chainlink, CrescoFin will able to access reliable data for its smart contracts in a completely safe and secure manner.
Chainlink is one of the most trusted names in the field of decentralized oracle technology. It offers data to the smart contracts, and the quality of the data can be easily considered as one of the best in the industry. The company has already got on-chain value running into billions of dollars, and its association with CrescoFin will definitely add to the brand value of both organizations.
The three components on which Chainlink will help CrescoFin include the proof of delivery component, proof of reserves component, and insurance component. The proof of delivery component will help in the automatic triggering of the payment by the buyer. The Proof of Reserve component will help users by providing them with the data and information specific to their accounts that are not on the blockchain. The third and last insurance component will help users with the insurance of assets that are off-chain.
Unlike the traditional method of calculating net asset value, the solution offered by the CrescoFin is fast, reliable, and absolutely tempered proof. The whole host of the services provided by CrescoFin in partnership with Chainlink are aimed to change the face of the finance industry, and it’s expected to bear rich dividends for the entire industry in the times to come.