ChainLink raises $32 million to connect blockchains with external data
Blockchain startup ChainLink has pulled in $32 million through its presale and initial coin offering, which closed yesterday. The company provides middleware to enable “smart contracts” running on a blockchain to access external data.
Smart contracts, or self-executing contracts, are one of the exciting promises of blockchain tech. They allow businesses and individuals to set service-level agreements with each other.
For example, imagine if airlines started offering smart contracts that would automatically refund 20 percent of your ticket fare if your flight misses its departure time by more than an hour. Or imagine if medical shipments to pharmacies were automatically halted and returned to the manufacturer if the shipping temperature exceeded a contracted limit.
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