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 an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.