Defactor Will Launch a Chainlink Node to Bring Asset Fundamentals and Credit Ratings Data On-Chain
The Defactor team is pleased to announce that we will be launching an official Chainlink node to bring our real-world asset fundamentals and company credit rating data onto leading blockchains. Chainlink is the industry-leading secure blockchain middleware, enabling existing API infrastructure to become easily compatible and accessible on any blockchain. Through our Chainlink node, we can broadcast our data onto blockchains and sell it directly to any smart contract application, as well as cryptographically sign it to prove it originated from our API.
The ultimate vision of Defactor is to tokenize various real-world financial assets, such as invoice financing, loans, and real estate so that new DeFi products can be built around these assets. In order for these tokenized assets to exist, Defactor will supply high-quality datasets on asset fundamentals and company credit rating data on to blockchains, enabling users to better price these assets and trigger event-driven settlement.
For example, smart contracts can use Defactor’s data in novel ways, including to price real-world assets on-chain so they can be used as DeFi collateral for loans or be traded in secondary markets, as well as to support advanced prediction markets and on-chain trading algos revolving around upcoming credit rating updates for companies.
Defactor is a newly launched platform and ecosystem designed for companies to bring their real-world assets on-chain. Our team has extensive fintech and DeFi experience, having already funded more than $7M of assets through DeFi liquidity pools and previously built a global finance platform that originated over $50B of assets annually and was nominated to the Forbes FinTech 50 list. While the Defactor protocol will have phased launches, the first involves real-world assets being brought on-chain to finance invoices through partnerships with Consol Freight and Centrifuge. Afterward, Defactor will support various tokenized real-estate assets, luxury goods, and even NFTs with industry collaborators. For more information on our roadmap, view our website: https://defactor.com/roadmap/
As a team with vast experience at the forefront of technological innovation, Defactor recognized a unique opportunity to bring our growing reservoir of real-world asset data to blockchains using Chainlink. Not only can this support our own real-world asset tokenization platform, but various other real world asset solutions can benefit. However, since blockchains are inherently disconnected from external systems, the Defactor team required the use of a secure middleware technology known as an oracle to bridge our existing APIs and blockchains.
After reviewing various oracle providers, we decided to use Chainlink because it is the most time-tested and widely adopted decentralized oracle network, featuring an extensive marketplace of top data providers and leading decentralized applications. Some of the benefits of providing our data through our own Chainlink node include:
- Data Integrity — Our Chainlink node will cryptographically sign all data we supply on-chain to verify its origin, preventing man-in-the-middle attacks and increasing its reliability in automated applications.
- Blockchain Agnostic — Our Chainlink node is compatible with any blockchain environment, serving as a single gateway to sell data to any current or future blockchain.
- Widely Adopted — Chainlink is the most widely used oracle network in the blockchain industry, providing access to a vast addressable market of potential data consumers.
- Provably Secure — Chainlink is thoroughly audited open-source software that already helps secure tens of billions of dollars in value, showcasing its ability to trigger the automation of high-value smart contacts live in production.
We look forward to expanding the DeFi ecosystem into a new realm of real-world assets through our launch of a Chainlink node. Not only will this unlock more global liquidity for various financial assets and products, but will bring them additional utility by being able to integrate within other DeFi protocols.
“We’re excited to launch our Chainlink node in the near future, expanding the type of data developers can get on-chain through the introduction of real-world asset fundamentals and company credit ratings,” stated Ernesto Vila, Commercial Lead at Defactor. “Our Chainlink node enables us to support any blockchain needing such data, ultimately leading to a DeFi ecosystem that becomes more intertwined within traditional financial systems and assets.”
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
Defactor provides a gateway for traditional businesses to access the billions of dollars currently available in Decentralized Finance (DeFi) liquidity pools, offering a pipeline of real-world assets that can bring enormous value to the DeFi ecosystem. Through the Defactor ecosystem, we will spawn new business models and new financial products and services that are DeFi based. Defactor will help cement DeFi as a true competitor to traditional finance.