The rapid progress of an inventory is attracted to the world, leading to an increased application and an important investment from both starts and companies. As such a lot of interest was centered in challenging technological technology, new developments are happening in the financial sector. Flashlink, Legal Oracle Protocol in Blockchain area, announced the initiative for a long time, the standard information around the company.
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Joint effort between financial titans
The initiative is a cooperative effort with the infrastructure of financial markets (FMI). Important participants include the world’s largest text platform, and European companies, global settlement. The company manages investment like Marplin Testston and Wellington are in the boat, along with UBS, Vontodon, and Vontobel. The participation of these industry leaders emphasizes the importance and impact of the project.
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Understanding on Blockchain Technology
Blockchain is deceleralized ledger, distributed transaction records across multiple computers in the way to secure information and information. Each transaction is grouped into a block, which then associates the previous block, form chronological chains. This structure can prevent any units from the previous records without a comment from the network, making it transparent among participants.
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The role of oracles in blockchain technology
Oracles do a bridge between Blockchains and external sources, providing that the blockchains can not handle independently. They can make tasks such as real global living information and facilitates transactions across different blockchains. LinkenLink is the most adopted oracle network in the Crypto industry, by opening more than $ 16 billion in its data and cross-transactional protocol. Biology acts as bridges that allow information and tokens to move between different blockchains between different blockchains.
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Solve the share information in financial institutions
The world’s financial institutions have a complicated data sharing, especially on company actions such as dividends, split and accumulated. The information associated with many parties is a complicated trip through Guardians, Brokers, Fund, and Investor Manager. This process leads to non-consistent forms, darilated sources, challenges, the challenges in purification, and sometimes invalid data. The effective performance in the processing of the company has a long problem, the broker, and the business of $ 5 million per month. Furthermore, 75% of the company must be confirmed custody information and exchange themselves.
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ChatLink’s Solution: Uniform Records
ChainLink initiative is intended to reduce the necessary reviews for self-reviews by creating a “uniform record of the company. By applying the denentional oracelied, the standard search program and dissemination of company in real-time companies. This method can reduce errors, errors, and inferior operations.
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levercing ai for cleaning data
The program is cheerful with a combination network with large language mode (llms) from US AI, and Menthropic. These AI models help to detect major financial data and structures before sending it to blockchain. AI’s combination increases the accuracy and reliability of data, changing data structured to be readable. Chain Actions information on the chain is transferred across both special and publicity oils using charLink oils, ensure broad.
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Potential subscription exceeds financial services
While the current focus is in the information of the company, how there is a variety of varieties. Such methods can be applied to other non-type structures in the industry. Most of the information generated by humans, such as insurance materials, insurance contracts, real estate agreement and posts of engineers. By combining AI and blockchain technology, potential for revolutionary methods of allocating, client, leading to new service offerings.
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Challenge and consideration
Despite its promise, the shipment faces challenges, especially on the reliability of the AI model. Sometimes it occasionally produces incorrect or innovative information, the phenomenon called “Depression”. The study reported that the LLMS fellness rate since 3% up to 27%. To reduce the risk, the advance training has been customized to specific data packages are required. In addition, even oracles checks results through uniform models and uses more llms, must be available in uncertainty. This is especially important in the financial environment, which decision is based on the information provided.
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New design
For the integration of AI and blockchain to get widespread adopted, the institution must find the practical application that solve important operations. The combination of oracles and Ai offers an effective tool to solve important pain, and valuable in financial services. By focusing on the necessary processes when needed to manage the company’s action, the initiative shows the way out of the technology.
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