Shyft Will Integrate Attestations To Chainlink’s Oracle Network For Secure Data Sharing
Shyft is excited to announce a new collaboration with Chainlink, a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments.
Similarly to Shyft, Chainlink’s expertise lies in bridging smart contracts with off-chain resources and traditional institutions. By bridging the old world foundations with the new and adding blockchain-powered trust layers, the two organizations can enable universal access to trustworthy data.
Shyft will enable institutions that act as oracles on Chainlink to handle data containing PII (Personally Identifiable Information) in a secure way. Using an attestation model, only specific metadata about the data and sender is shared as required, with strict user consent. For example, knowing that the data belongs to Coinbase would give it a certain certification, and Chainlink’s API users could select which types of data providers they’d like to connect with based on the attestations Shyft offers.
“The need to authenticate trustworthy oracles is fundamental to Shyft’s design. It was one of the needs that motivated the structure and format of our attestation model. Drawing on the strengths of both Chainlink and Shyft, smart contract developers and users can not only rely on the availability and timeliness of oracle data, but also demonstrably attribute that data to a trustworthy source for an added layer of security in systems that use that data.” — Kris Coward, Chief Scientist at Shyft Network.
Guided by the knowledge that data is driving entirely new economies, this collaboration between Shyft and ChainLink will enable a paradigm shift in the blockchain and fintech space.
About Shyft Network Inc.
Shyft is the credential verification network with proof-of-sender protocol and that enables organizations, institutions, and individuals to prove and verify identity credentials, ownership rights, and credibility between counterparties in real time and at scale. Shyft is committed to restoring trust in data by ensuring privacy and security, and its ecosystem consists of partnerships across public and private networks, sectors, and in a variety of industries.
Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. Chainlink is consistently selected as one of the top blockchain technologies by leading independent research firms such as Gartner. It is well known for providing highly secure and reliable oracles to both large enterprises (SWIFT) and leading smart contract development teams.
Note: chainlinkecosystem.com does not claim any ownership of this content, all credit to Shyft, view official announcement.