No... swift and friends developed / help implement in the system they will sell it to other giants. Most of this space will be automated too. It will be how AI charges other AI. Instead of people filling reports, editing reports, requesting affiliate companies for reports, implementing their reports to your company’s database.. etc. Literally all these companies are moving to cloud with easy interfaces. Enter data boom. Company wants to use said data, ai grabs payments through chainlink network paying the company micro payments for using their data.
Oh you have a profitable website, want to sell your metadata of customers buying from your website to advertisement firms? No problem. Btfo google search engine. Google search has wicked good guesses what you can buy, but they don’t have individual data on people making the transaction or not. Now not only can companies sell shit they can also double dip on the data sales. Although google will probably get into this business too. Which is good, more money for us. Literally the only data we had before was contained in FB GOOGLE AMAZON. But now this gives every other company the ability to monitize metadata.
Serious fud
Rather than Facebook becoming a lumbering giant and continuing to divulge data to Cambridge Analytica et al., their blockchain department are looking at selling their databases via APIs into Smart Contracts as this will increase profits considerably. Projects which incorporate API technology to allow communication between blockchains, and Smart Contracts will facilitate the API Economy, its boom, and consequently the Fourth Industrial Revolution. As websites are the communication portal to internet, APIs are the communication portal to blockchains and Smart Contracts.
Yea, that’s what I was trying to get it. You said it much clearer, thanks.
Also in your opinion how do you think it will work. Bob buys bread at Walmart using his visa for 5$. Walmart try’s to sell this as data to Sally who is unsure whether Walmart is telling the truth that the bread is 5$. Bread_getprice is called for and oracle randomly select 10 groceries stores ranging prices from 5$ even. Walmart’s best price guarantee, actually calls all bread prices in that local region and automatically matches them at checkout. Sally wants to be sure that bob actually bought the bread and was present at that time. Sally enters visa API_getinfo_onbob. Cryptographically secure and private bob did use visa at Walmart buying the lowest priced bread. Sally confirmed this data as true and is regretting spending 200 link to pay all these companies on one data point.
I’m cringing at my spelling. Tired brainlet reporting
You're right. Basically the smart contract creator would be paying for the contract creation (which includes the fee that will be converted to link to pay node operators)
apis may well be the 4th industrial revolution but they don't need blockchains.
API can generate whatever data. How do you verify it’s authentic? That’s the issue. It’s like if I killed you and nobody saw. Well whose telling the truth. But if 1 person saw ya maybe. Maybe he’s your friend. But if 100 people saw well them more than likely I’m fucked.
But this doesn't tell me how a smart contract creator is going to aquire the LINK with which to pay the node operator.
Will the apps that use chainlink charge a fee?
See my Walmart example
Sally wants to buy Walmart’s data via their API. Walmart could cook the books and say oh ya bob spent 100$. Walmart generated 1billion today. How do you prove that? More sources, that’s why I included visa in the example. Also the US is pretty good, not perfect. But think about china . Their books are fucking whack. So now think on a bigger scale. Whose gonna do international trade with China if America and Europe use a trustless system. America and Europe know their getting Nickeled and dimes by China, now if everyone is forced to use transparency, different story.
Don’t believe me, watch that China hustle movie.
You will never see chainlink. It’s B2B. It’s companies trusting each other. Why do you want API data ? Seriously, you don’t need it. It’s a protocol for trust. Do you know how a magnetic stripe works when you swipe your credit card? Probably not. You trust it. Same as companies being able to trust each other. You will never see chainlink or hear about unless your a nerd. That’s why they don’t market this shit.