Recently, companies have accelerated their efforts to establish new partnerships in the field of Blockchain. At this point, news of a new partnership in the field of Blockchain was shared from the Swift and Chainlink front.
Prominent as the worldwide bank messaging system, Swift has launched a series of studies in partnership with decentralized Oracle network provider Chainlink to take a closer look at how major financial institutions can integrate with Blockchain networks.
Building on existing infrastructure rather than launching an entirely new technology will also reduce the costs and complexity of interacting with Blockchain networks, Swift said in a statement. Participants in the study will include Citi, BNP Paribas and BNY Mellon, and the results of the study will likely be published later this year.
Chainlink CEO Sergey Nazarov, who made a statement on the subject, stated that if these tests with banking giants are successful and allow for a wider connection, this can strengthen the entire financial ecosystem. Sergey Nazarov made the following statements in his statement:
It will accelerate the amount of value flowing from banks to public blockchain networks, which will naturally increase the value in themselves. As a result, it will increase the total global market value of our industry by trillions and ultimately tens of trillions.