In a recent blog post from the team at Chainlink, the CEO of the top oracle blockchain, expressed his views on how Chainlink 2.0 and hybrid smart contracts can mitigate the dangers of global warming and climate change. He believes that DeFi can mitigate climate change.
Sergey Nazarov who is founder of Chainlink, the number one oracle blockchain, brought up some interesting points in regards to the recent discussion of crypto and climate change. He recently stated that blockchains are:
“Fundamentally, very, very good at creating proof and creating incentives,”
https://www.coindesk.com/chainlink-sergey-narazov-defi-oracles-climate-change
He remarked that oracles have a lot to offer in the field of regenerative agriculture. Oracles can bring transparency to markets. This is much needed since crypto is in the hot seat of sustainability talks at the moment.
Nazarov said that with oracles…
“You’re able to prove things that are meaningful about environmental outcomes. I think what climate change will do is it will shift rain patterns and it will shift how rain patters will be utilized,”
finance.yahoo.com
Nazarov also believes that the combination of decentralied finance and oracles can reduce fraud and expenses in traditional finance. This is contradictory to what most people think about crypto and blockchain.
Crypto and blockchain are not “shadowy” like most think
There has certainly been a lot of manipulation of the public about the security and safety of blockchain transactions. When the average person thinks of cryptocurrency, he or she imagines an ominous masked figure behind a keyboard with ill intentions. However, this couldn’t be further from the truth. Most people in crypto are just regular people. And furthermore, the words crypto for whatever reason send people a bad sign. They hear crypto and they equate it with shadowy activity. But what crypto actually means is that it is secure.
Nazarov is a pioneer in the crypto world. Without Chainlink and oracles, blockchains would be far less secure and trustless. The work he has done with Chainlink hopefully will help the public to better understand the value of blockahin and crypto.
Why Chainlink will explode in 2021
Chainlink has a lot of bullish news coming up. With the release of Chainlink 2.0, Chainlink will release the long awaited hybrid smart contracts that will revolutionize the field of oracles.
Marc Barasch, CEO of Green World Campaign said:
“By using blockchain technology and Chainlink oracles, we can distribute rewards to good stewards in a more efficient manner that is easily verifiable by all stakeholders, which only further incentivizes people to participate knowing their labor and capital generates verifiable results.”
Final thoughts
Chainlink is one of the top cryptocurrencies in the world in terms of technology. Oracles and off chain data have become an essential part for the growth of the crypto industry. DeFi cannot exist without off chain data. There’s no telling how much Chainlink could be worth in the next few years considering it’s growing number of use cases and utilities.
Aaron is passionate about blockchain and has been an investor in cryptocurrencies for the past years. He enjoys engaging with other people in the cryptocurrency community online, particularly on Telegram, and learning from experts.
