BlockBank Will Integrate Chainlink Price Feeds and Chainlink Keepers in its AI-Powered Robo-Advisor
BlockBank is pleased to announce its integration with Chainlink Price Feeds, the industry-leading decentralized oracle solution, to supply BlockBank’s AI Robo-advisor with secure, reliable, and high-quality pricing data. In addition, BlockBank will also utilize Chainlink Keepers to provide options for our regular smart contract maintenance tasks to be outsourced to Chainlink’s decentralized and highly reliable network of professional DevOps.
One of the many in-app features of BlockBank is our AI Robo-advisor, which monitors, gathers, and provides data in real-time based on investment preferences to maximize gains and minimize unnecessary losses. With support from Chainlink, our AI Robo-advisor will have access to the most widely used DeFi benchmark for asset prices when making key decisions. Chainlink Price Feeds not only serve as a highly available and tamper-proof price oracle solution, but they have a proven track record of delivering accurate price updates on-chain despite exchange downtime, flash crash outliers, and data manipulation attacks like flash loans.
Integrating Chainlink Oracles Into BlockBank’s User-Friendly Neobanking DeFi App
BlockBank is on a mission to offer an AI-powered, traditional mobile banking experience with seamless crypto integration. We aim to combine the best of the DeFi and CeFi worlds in one place, incorporating AI technology to bring users financial empowerment in a very simplified manner. Our Robo-advisor puts the analytical power-equivalent of hundreds of highly skilled financial analysts in the palm of our users, leveling the playing field between retail and institutional investors.
Oracles are a vital component to our Robo-advisor making sound data-based recommendations. Integrating Chainlink is critical because its price feeds secure a large portion of the DeFi market, along with its price data having extensive market coverage across centralized and decentralized exchanges. Some of the notable features of Chainlink Price Feeds that weighed into our decision include:
- High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, pulling price data from hundreds of exchanges, weighted by volume, and cleaned from outliers and wash trading. Chainlink’s data aggregation model generates accurate global market prices that are resistant to data source failures of a single or small set of exchanges.
- Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record for reliability, even during phases of high gas prices and extreme network congestion.
- Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.
- Reputation — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
“Adding one of the most prestigious oracles in the industry to our mobile banking experience is another step forward in growth and innovation for BlockBank. Combining the power of Chainlink Price Feed oracles with BlockBank’s AI advisor, we will provide users critical pricing data in real-time, enabling the execution of better trades and smarter portfolio decisions,“ said Kelghe D’cruz, Co-Founder and CEO, BlockBank.
An AMA Youtube Live session will be held with both BlockBank and Chainlink Labs teams to discuss the future deployment and how each project can empower each other and further expand the DeFi ecosystem.
About Chainlink
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter.
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About BlockBank
BlockBank bridges the gap and strives to provide our users with frictionless integration between traditional financial systems and CeDeFi. In short — we are bringing the full banking experience to CeDeFi. We are a user-friendly, highly functional, empowering, and future-proof tool to fulfill any of your decentralized or centralized financial needs — the all-in-one gateway to cryptocurrency. Our Robo advisor is the next generation of analytical tools, AI-powered recommendation systems, and educational materials to help our users navigate all things crypto, make sound and informed decisions.
