Earlier this year, Oracle for Startups was co-developing a blockchain project for selected startups through a collaboration with Chainlink, a decentralized blockchain oracle network infrastructure, and experts from Oracle Blockchain, LinkPool and Honeycomb.
So why should startups care? Two big reasons: Revenue generation and innovation.
The goal of the project is to enable an ecosystem where startups can generate new revenue from smart contracts executed on the blockchain through the monetization of APIs hosted on the Oracle Cloud infrastructure and through the collaboration with Chainlink and API marketplace providers.
Oracle announced the first cohort of 20 startups selected as part of this innovation project (see full list below). Starting with these initial 20, Oracle plans to pilot, learn, develop best practices, land it, and scale blockchain. Oracle committed to working with 50+ startups. These initial 20 startups are phase 1 with more startups joining in phases. The opportunities are tremendous.
As a recent Gartner report noted, blockchain smart contracts can revolutionize data collection, sharing and usage, creating new data insights and giving companies an early adopter advantage. “Leaders responsible for combining technology with data strategy must deploy blockchain smart contracts now or forfeit competitive differentiation,” the report stated.
Testing, learning, early adoption and bold innovation. All principals that are core to the Oracle for Startups ethos. In fact, it’s part of the vision of every startup oracle works with.
Chainlink is secure-focused blockchain middleware that allows smart contracts on various networks to connect with critical resources and data needed—for both on and off-chain systems. Chainlink’s infrastructure will help provide reliable tamper-proof inputs and outputs to complex smart contracts in any blockchain.
The Oracle for Startups team will work with the selected startups to launch Chainlink nodes on Oracle Cloud Infrastructure (OCI), integrating them with Oracle Blockchain Platform, and will capture best practices for developing smart contracts that integrate to Chainlink to help build knowledge that will benefit this ecosystem.
The ecosystem of API providers (startups) will work in concert with Chainlink node operators and smart contract developers, creating a network of mutually interested entities. Neutral third-party API marketplace providers like LinkPool and Honeycomb will act as the catalyst by providing services that will cultivate interest and build “chainlinks” between API providers (startups), independent Chainlink node operators, and smart contract developers.
Oracle is excited to get started with these initial 20 startups and continue to scale the project. Oracle is hopeful for strong results that drive revenue generation and bold innovation for all.
The list of other Startups Globally are listed below
• Agropacking Solutions (Brazil)
• AtCash (US)
• bluField (US)
• CashPundit (India)
• Constellation Group (UK)
• Credits (US)
• Crowdz (US)
• CyNation (UK)
• DriveOn (Brazil)
• Gravel Coin (Brazil)
• Insolar (Switzerland)
• Ld8a (UK)
• LotsApp (Brazil)
• MaxCentive (US)
• MonoChain (UK)
• North East (UK)
• Quant Network (UK)
• retraced (Germany)
• Snapper Future Tech (India)
• WorldLaw (US)