Chainlink

<p>Today, Chainlink announced the Chainlink Runtime Environment (CRE) framework designed to help banks, payment systems, and other traditional financial institutions connect smoothly with blockchain technology.&nbsp;</p> 
<p>According to the press release, the CRE will replace older technologies like COBOL and the Java Runtime Environment (JRE). COBOL, introduced in 1959, was crucial in creating early financial tools like ATMs and electronic banking. Similarly, JRE, developed in the 1990s, became a backbone for online banking.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="714" height="700" src="https://www.cryptotimes.io/wp-content/uploads/2024/11/BecauseBitcoins-Twitt.png" alt="BecauseBitcoins Twitt" class="wp-image-215498" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/11/BecauseBitcoins-Twitt.png 714w, https://www.cryptotimes.io/wp-content/uploads/2024/11/BecauseBitcoins-Twitt-286x280.png 286w" sizes="(max-width: 714px) 100vw, 714px">
  <figcaption class="wp-element-caption">
   Source: <a href="https://x.com/BecauseBitcoin/status/1857879967696117881" target="_blank" rel="noreferrer noopener nofollow">X</a>
  </figcaption>
 </figure>
</div> 
<p>Both systems were revolutionary in their time, but they are no longer equipped to handle the demands of modern blockchain applications. By introducing the CRE, Chainlink is creating a unified, blockchain-compatible system to modernize these outdated infrastructures.&nbsp;&nbsp;&nbsp;</p> 
<p>Moreover, the launch of the CRE comes amid Chainlink’s broader push to bring traditional finance into the blockchain ecosystem. Just last month, at the SIBOS banking conference, Chainlink announced a collaboration with SWIFT, the world’s leading interbank messaging system. allows banks to use SWIFT messages to connect with blockchain systems</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="704" height="815" src="https://www.cryptotimes.io/wp-content/uploads/2024/11/Chainlinks-Twitt.png" alt="Chainlinks Twitt" class="wp-image-215499" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/11/Chainlinks-Twitt.png 704w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Chainlinks-Twitt-242x280.png 242w" sizes="(max-width: 704px) 100vw, 704px">
  <figcaption class="wp-element-caption">
   Source: <a href="https://x.com/chainlink/status/1848964021417881605" target="_blank" rel="noreferrer noopener nofollow">X</a>
  </figcaption>
 </figure>
</div> 
<p>In addition to its partnerships, Chainlink has earlier launched solutions like the Blockchain Privacy Manager and the <a href="https://www.cryptotimes.io/2023/09/27/chainlinks-ccip-goes-live-on-base-mainnet/">Cross-Chain Interoperability Protocol (CCIP)</a>&nbsp; last year to ensure businesses can use blockchain while keeping sensitive information secure.&nbsp;&nbsp;</p> 
<p>Furthermore, Chainlink is also exploring the use of artificial intelligence (AI) alongside its oracles. This combination can create secure, tamper-proof records of financial activities, such as proof-of-reserves, giving companies and users greater confidence in their data.</p> 
<p>With the CRE and its other projects, Chainlink is making it easier for banks and businesses to take their first steps into the blockchain world, promising a future where both systems can work together effortlessly.&nbsp;&nbsp;</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>Also Read: <a href="https://www.cryptotimes.io/2024/11/14/franklin-templeton-expands-fobxx-fund-to-ethereum-blockchain/">Franklin Templeton Expands FOBXX Fund to Ethereum Blockchain</a></p> 
</blockquote>

Chainlink Launches Framework to Connect Banks with Blockchain

The Crypto Times

Other articles published on Nov 16, 2024

SHIB Aims for $0.0001, While Crypto Sharks Bet Big on This All Sports Memecoin for Massive 55x Re...

Is Chainlink a Good Long-Term Investment Amid Market Consolidation?

Hamster Kombat Loses 86% of Active Users: Possible Reasons

Mantra Chain $OM Token Surges 35% in 24 Hours.

Bitcoin Exchange Reserve At Lowest Level Since 2018, What Now?

How to Get a Bitcoin Wallet and Securely Manage Your Cryptocurrency

Join our free newsletter for daily crypto updates!