Interbank messaging platform Swift has completed a blockchain proof-of-concept in partnership with startup SmartContract.
The proof-of-concept, revealed today, is the first project to use SmartContract’s ChainLink v1.0, which lets users connect smart contracts to data feeds, web APIs and a number of payment methods.
While few details about the project have been released, SmartContract founder Sergey Nazarov told CoinDesk:
The news coincides with the startup's rebranding of the ChainLink product, which was previously titled SmartContract Oracle.
Founded last year, New York-based SmartContract was one of several blockchain startups to be selected by Swift to win a contract at its 2016 Sibos conference. A representative of Swift confirmed to CoinDesk that it is a SmartContract customer. Swift is currently working on multiple blockchain projects with various vendors.
Notably, the startup is currently preparing for a pre-sale of its own cryptographic token called LINK, with a public crowdsale to follow.
According to SmartContract, the token will be used to power its network. An email sent to users explains:
Company logo image via Swift
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.