Chainlink, in collaboration with UBS and crypto exchange DigiFT, has launched a project for automated fund operations on the blockchain. This initiative aims to enhance the efficiency and transparency of investment transactions using smart contracts.
The Mechanism of Collaboration
The essence of this initiative lies in utilizing Chainlink's Digital Transfer Agent (DTA) smart contracts. This decentralized oracle network provides real-world data integration, while UBS manages its $5.9 trillion asset portfolio. DigiFT serves as a bridge between traditional and digital finance, operating as a regulated exchange.
Hong Kong's Potential
The project operates within Hong Kong's Cyberport program, aimed at transforming the city into a leading cryptocurrency hub. The initiative seeks to establish a state-of-the-art fund management framework that meets institutional needs and regulatory requirements. The combined efforts of UBS, Chainlink, and DigiFT simplify and accelerate global fund operations.
Key Points of the Initiative
Key aspects of this initiative include:
* Integration of real-world data via Chainlink smart contracts. * Substantial reduction in manual errors, with transactions recorded on the blockchain. * Potential to revolutionize cross-border fund management.
The Chainlink, UBS, and DigiFT initiative is poised to significantly alter the fund management market, which is valued at $132 trillion. This project showcases the capabilities of crypto-based solutions for enhancing international fund management.
