QLC Chain is integrating Chainlink to make its aggregated data available to smart contract
QLC Chain is integrating Chainlink oracles to make ICT data available on-chain for smart contracts. The initial use case involves retrieving off-chain data about mobile network usage and storing it on-chain, which is then used to calculate and automate on-chain payments from ICT consumers, according to the announcement on Sept 3.
QLC Chain is a blockchain that connects legacy telecommunications monitoring and billing systems together (B.O.S.S.) to allow telecommunication companies (telcos) to monetize their infrastructure, as well as settle with customers using on-chain payments.
In addition to automating on-chain payments, QLC Chain is working on two additional solutions using Chainlink. The first is an ambitious initiative to tokenize telco infrastructure by using Chainlink data feeds combined with real-time usage on QLC Chain as a means of determining token valuations. Not only will such a framework give the public a unique opportunity to invest in telco infrastructure, but the tokens can be used as the backbone for DeFi services like serving as collateral for a loan or stablecoin or acting as liquidity within an Automated Market Maker (AMM).
The other use case revolves around integrating Chainlink’s Verifiable Random Function (VRF) as a secure and provably fair source of on-chain randomness for generating two-factor account authentication (2FA) over OTA/SMS for its telecom and banking partners.
Allen Li, Co-Founder & CEO of QLC Chain said:
“Operators and carriers are highly dependent on each other’s network to fulfill customers’ connectivity requirements, however, cross-platform operations are conducted offline across multiple disparate systems of record. Combining QLC Chain and Chainlink provides a highly secure and reliable framework to create a single, trusted system of record, which can help support a commercial service layer among telecommunication service providers for settling contracts involving mobile usage, roaming, bandwidth-on-demand, and more”.
Daniel Kochis, Head of Chainlink Business Development said:
“We look forward to providing trusted oracles to QLC Chain to both connect them to trusted off-chain data and systems, as well as make their ICT data available to other smart contract applications. By developing a secure and reliable bridge between QLC and off-chain telecommunications networks, users can trust that on-chain payments and other DeFi products built upon QLC Chain are highly secure and reliable.”
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