crypto-news-flash.com
- zenGate integrates Chainlink to enhance blockchain-based trade finance with on-chain traceability and transparency.
- Chainlink’s infrastructure accelerates ZenGate’s real-world asset tokenization, expanding its impact in emerging markets.
zenGate Global announced a huge move by integrating Chainlink’s decentralized oracle and tokenized real-world asset (RWA) infrastructure into its international blockchain-based platform for commodities and trade finance.
Using Chainlink’s cutting-edge technologies together with the blockchains of Ergo and Cardano, this strategic integration seeks to improve zenGate’s tokenization and traceability solution, Winter Protocol.
.@ZengateGlobal is leveraging #Chainlink’s platform for tokenized RWAs.
Using Functions and Proof of Reserve, zenGate Global is helping enhance transparency and security for tokenized assets in the supply chain industry 🏗️🌍 https://t.co/oRSCWo0qRD
— Chainlink (@chainlink) June 20, 2024
Integrating Chainlink Functions and Proof of Reserve
Proof of Reserve (PoR) and Chainlink Functions are two features that ZenGate Global is about to introduce that will completely change supply chain traceability. With the on-chain release of precise and trustworthy asset reserve data made possible by this integration, trade finance and collateral management will enter a new era of openness.
As a result of Winter Protocol’s open-source design, other Cardano and Ergo projects will be able to use Chainlink’s technology, promoting wider platform adoption.
The Palmyra Platform from ZenGate Global attempts to close a $2.5 trillion trade financing and access gap in commodities trade. Operating now across East Africa, India, Indonesia, Sri Lanka, and Nepal, the Palmyra Platform is well-positioned to have a big influence on developing markets.
Giving manufacturers, companies, and consumers in these areas access to cutting-edge technology is the aim in order to keep them ahead of the curve in the international economy.
Through integration of Chainlink’s PoR and Functions, zenGate Global may accelerate its tokenized real-world asset projects. Chainlink’s scalable infrastructure will make it easier for zenGate’s platform to spread over several blockchains more quickly and offer a strong basis for future expansion.
Chainlink’s battle-tested infrastructure gives ZenGate a dependable and secure operating environment that has earned the trust of some of the biggest financial institutions in the world. The highest levels of security and dependability are guaranteed in ZenGate’s blockchain applications by this integration.
Extensive Connectivity
Chainlink offers a wide range of connectivity, tying smart contracts to IoT devices, corporate systems, and public or password-protected APIs. application of complete and dependable blockchain solutions requires this connection.
“The Chainlink platform is enabling zenGate to push the boundaries of blockchain utility, leveraging Chainlink’s tokenization infrastructure to tackle complex challenges in the commodities sector and trade finance,” said Daniel Friedman, CEO of zenGate Global.
Meanwhile, the price of Chainlink (LINK) is about $14.30 as of the most recent CoinMarketCap data, down 1.23% in the last 24 hours and 7.15% in the previous week.
As CNF previously reported, Chainlink was incorporated by Bitcoin reserve promoter dlcBTC to improve its cross-chain capabilities. This action highlights even further the increasing acknowledgement and use of Chainlink’s technology in the financial and blockchain industries.