Smart Contract

Google Taps a Start-Up Smart Contract Project As Its Blockchain Partner

According to the latest reports doing the rounds since yesterday, the technology giant Google is tapping a start-up smart contract project called Chainlink as its blockchain partner. The move depicts a deep interest by the company into the technology of blockchain. In fact, it is one of the very few blockchain projects that the company has chosen to associate itself with.

In order to divulge more details about the partnership, Google also published an official blog post on 13th June 2019. The blog states that the company intends to utilize the Chainlink oracle smart contract for placing the BigQuery data, Google’s solution for business intelligence and data warehousing, on the blockchain.

chainlink

Chainlink and SmartContract.com were founded by Steve Ellis and Sergey Nazarov to develop a medium between blockchain systems and the conventional data sources. For that, they have collaborated with Oracle and SWIFT. Nazarov in his statement said that they are striving to build a next generation of the smart contracts which are capable of going beyond tokenization as well as finding their utility based on the interactions with IoT events, market events, and a variety of use cases.

Sharing some insights, Google’s Developer Advocate Allen Day said that smart contract apps (Ethereum Dapps) request Chainlink data at the high level that in turn will be retrieved from the web services built with Google’s BigQuery and App Engine. The Chainlink nodes listen for such calls and execute the job requested upon observation. Thanks to the service-oriented elements, the external adapters will extend Chainlink nodes’ capabilities to verified payment gateways, APIs, as well as external blockchains. Thus, the nodes of Chainlink will find themselves interacting with web services of App Engine that are built for a purpose.

To put it simply, the products of Google will now be able to connect with decentralized apps, much like how a client-side application communicates with a normal database server. In such a case, Chainlink will act as a data connecting link.

The collaboration will open a host of exciting opportunities for Ethereum-based smart contracts, for instance, added privacy on the Ethereum transactions.

Tags

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
Back to top button
Close