Chainlink Use-cases

Comprehensive list of chainlink applications

Thu, 28 Jun 2018

Brief explanation

Weather insurance. Weather insurance for farmers. In case it rains 10 inches, lets insure farmers so that the they get paid automatically. Automate it instead of going through n people and taking a lot of time to settle claims. Because of the finality aspect, the system needs to be tamper proof. The blockchain/smart-contract is, but someone could hack the weather station providing the data that allows the smart contract to know if it’s raining or not. Chainlink enables the smart contract to aggregate the information of 10 weather stations and decide whether it’s really raining or not. So to commit fraud one would have to breach in 10, 100 or even up to 1 million weather stations, depending on Chainlink configuration.

This same logic applies to a large amount of other use cases.

Flight insurance
Bond payments
Sports betting
Pay as you drive cars
Automatic speeding tickets
Supply chain records
Data for apps
Escrow for houses
Escrow for online purchases
Shipping insurance
Life insurance
Automatically executing trust funds
Automatic release of titles when you pay things off

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