zenGate Global is All-In on Chainlink’s Platform for Tokenized Assets
zenGate Global is going all-in on utilizing Chainlink’s decentralized oracle and tokenized RWA infrastructure to enhance our international blockchain-based platform for commodities and trade finance. The solution will leverage Chainlink’s technology in concert with Ergo and Cardano blockchains, to amplify zenGate’s tokenization and traceability solution: Winter Protocol.
By integrating Chainlink Functions and Proof of Reserve (PoR), we will be able to bring IoT data on chain to provide on chain traceability for the supply chain process and publish accurate and reliable asset reserves data, ushering in a new era of transparency for collateral management and trade finance.
Since Winter Protocol is open-source, this innovative approach will also allow for other projects building on Cardano and Ergo to utilize Chainlink’s technology.
zenGate Global is enhancing its Palmyra Platform to address a $2.5 trillion (USD) gap in commodities trade access and trade finance. With the Palmyra Platform live in Sri Lanka, Nepal, India, Indonesia, and East Africa, we’re positioned to have a real-world impact on emerging markets. Ultimately, we aim to ensure producers, businesses, and users from these regions have access to world-class technologies.
Benefits of the Integration of Chainlink’s Tokenized RWA Infrastructure
By integrating PoR and Functions, zenGate is able to further its tokenized real-world asset initiatives by:
- Accelerating time-to-market by leveraging Chainlink’s scalable infrastructure when expanding its platform across any blockchain.
- Building on Chainlink’s battle-tested infrastructure, which provides a track record of reliability and is trusted by the world’s largest financial institutions.
- Extensive connectivity, connecting smart contracts to any data source, ranging from public or password-protected APIs to IoT devices and enterprise systems.
Daniel Friedman, CEO of zenGate Global, stated, “The Chainlink platform is enabling zenGate to push the boundaries of blockchain utility, leveraging Chainlink’s tokenization infrastructure to tackle complex challenges in the commodities sector and trade finance.”
This initiative is expected to serve as a model for future cross-chain projects aiming to integrate blockchain technology with real world assets (RWA) and practical financial applications.
About zenGate Global:
zenGate Global is a leading technology company building the Palmyra Platform, a new innovative solution that will power the next generation of global commodity exchanges.
With a commitment to transparency, efficiency, and sustainability, zenGate is dedicated to creating solutions that foster direct connections and facilitate growth in emerging markets.
The company was founded in 2022 by Daniel Friedman (former founding member of the team that launched Cardano) and Sam Lambert (the first Chief of Staff of the Oliver Wyman Global Digital Assets Practice). The executive team is advised by domain experts; notably Lamon Rutten, the Former Chief of Commodities for the United Nations and Former CEO of the Indian Multi-Commodities Exchange.
Palmyra Platform
The Palmyra Platform, powered by Ergo and Cardano blockchains, as well as new innovative technologies, targets commodity trade access and trade finance gaps in emerging markets; a trillion-dollar opportunity. The company’s first initiative was launching the Palmyra Platform in 2023, onboarding Sri Lanka as the pioneer jurisdiction, followed by India, Nepal, Indonesia and Zambia. The team is now in the process of onboarding producers from Kenya, Greece, Turkey and other jurisdictions.
For more information, please contact: Media@zengate.global
Twitter: https://twitter.com/ZengateGlobal?s=20
Medium: https://medium.com/@zenGate
YouTube: http://youtube.com/zenGateGlobal
About Chainlink:
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $11.5 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.
