The challenge of getting a reliable source of data has been a perennial problem in the journalism business. Ever since the first information broadcast media was born, the world has had to rely on the integrity of those who provide the data. But that could change now that Chainlink is harnessing the power of decentralization, and the Associated Press (AP), one of the world’s largest news agencies, is beginning to move in that direction.
AP is running a Chainlink node and will begin uploading a significant set of data, leveraging Chainlink’s technology to guarantee the reliability of its information.
Chainlink and AP News: A Partnership That Makes Sense
According to information shared by AP in a press release, the agency will share data related to U.S. race calls, economic facts, sports game outcomes, and business financials. The data will be cryptographically signed to verify its authenticity.
This is not the first time AP has used blockchain technology to ensure the integrity of its data with the world. Already last year, AP collaborated with Everipedia to upload the U.S. presidential election results on Ethereum’s blockchain.
Also, AP issued an NFT in early 2021 and is doing multiple experiments on the application of decentralized technologies in the art scene.
Dwayne Desaulniers, AP director of blockchain and data licensing, said in the Press Release that the technology developed by Chainlink was ideal for AP’s vision of broadcasting reliable data across the world.
“Chainlink technology is the ideal way to provide smart contract developers anywhere in the world with direct, on-demand access to AP’s trusted economic, sports, and race call data. Working with Chainlink allows this information to be compatible with any blockchain. The open-source software is reliable, secure, and widely used across leading blockchain networks.”
William Herkelrath, managing director at Chainlink Labs, also applauded the decision, saying it made sense for AP to launch a Chainlink oracle node, considering its level of influence and the amount of information it provides to the world constantly.
Why Does It Matter?
AP is a news agency that has been in continuous operation since 1846. It is a reliable source of information worldwide with prestige and reach comparable to other agencies of the likes of Reuters, BBC, or EFE.
Chainlink is a global provider of decentralized oracles. Chainlink’s vision is to ensure that information circulating outside the blockchain can be transmitted on-chain via smart contracts, rewarding the veracity of the nodes and sources similar to how the Bitcoin network rewards good miners. Any information can circulate via Chainlink, from price feeds to the results of a soccer game.
My god how the years fly by, from 28 ecosystem participants to now over 870+ integrations (31x growth) with over 90% oracle market share 32 months later
— ChainLinkGod.eth 2.0 (@ChainLinkGod) October 20, 2021
With AP running a Chainlink node, the information it uploads and digitally signs is verifiable by any other participant in the network and can be used to make decisions almost instantly. For example, a betting website could use AP data to guarantee the results of games on which its customers bet, or a political analyst could change election strategies depending on the results of a particular poll.