Why does Chainlink utilize a token?

But this isn't a typical Chainlink use case. What you are describing has existed for years and doesn't require blockchain technology. SWIFT is about trustless transactions between separate parties.

0

18.05.2022

Drake

M
Imagine you own a company and you want to use bloc...

Because that isn't the point of any of this, you are still stuck and haven't fully grasped the problem being solved and why it has value and why the token is 100% needed.

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18.05.2022

M

Drake
Because that isn't the point of any of this, you a...

See what you were replying to here. What you replied to was my comment on Doug's point of why anyone would set up a link node that is free to use. I use the @ so I can reply to both of you at the same time. I'm not trying to be disingenuous or fudding. The YouTube vid I linked to is how Kaleido works, so it's not like I'm making this shit up. My worry about swift is just my concern as clearly stated. I'm not trying to push some narrative here. I want the token to be used of course. Hope this clears it up.

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19.05.2022

Drake

M
See what you were replying to here. What you repli...

Okay well to be clear, I am addressing that swift concern/concept you put forward and it applies for any enterprise/private deployment, in the end they have zero gain from this tech without connecting it to the mainnet and the ecosystem tie in with the token.

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19.05.2022

M

Drake
Okay well to be clear, I am addressing that swift ...

@LinkFarmer too. Noted.

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19.05.2022

M · Accepted Answer

Imagine you own a company and you want to use blockchain to store accounting data and every now and then you need to record the $ to yen exchange rate because you do business with Japan. You don't want your employees to be the one to look up that data and record it themselves because they're unreliable. You use something like kaleido where you can setup your own link node and use it internally. As long as you have access to an API that provides you with the data you need, I don't see why this can't work.

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Why does Chainlink utilize a token?

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