Chainlink Swift Oracle, Coinbase, USDC, and Ethereum | Chico Crypto
Welcome to this cryptocurrency video posted by Chico Crypto. In this video Tyler talks about the upcoming digital US dollar and what the breadcrumbs are spelling out to us.
Ethereum, Chainlink, Coinbase, Swift oracle, the US Government and US Citizens. This is the line up of speculated components that will create and circulate a US digital dollar using blockchain technology.
Ethereum - is an enterprise blockchain platform. The Ethereum world computer allows for secure and distributed smart contracts to be executed.
Chainlink - is an oracle service that helps to connect data in the real world with blockchains such as Ethereum. Chainlink acts as a bridge to help make data more secure and accessible using distributed ledger technology.
Swift - is a payment messaging platform. Swift has been around since 1973 where it was founded in Brussels, Germany. Swift payments are what has to date been what takes money transfers 3-5 days to process. The old programming used by Swift is slow and outdated. Swift is in the process of updating its system to be interoperable with blockchains. By using blockchains transactions can be done in real-time for a fraction of the cost.
What does this mean for Bitcoin?
Bitcoin is the first widely used cryptocurrency. Bitcoin is used as a store of value. It is the longest-running mainstream blockchain with over a decade of successful operations. A digital US dollar will introduce many people to the capabilities of blockchain technology and will help to validify the use of cryptocurrencies.
This could be good for Bitcoin.