LINK News

financierworldwide.com/blockchain-trade-finance-and-sanctions-issues#.WmCpENWvDqA

Someone who is not a brainlet and has some understanding of this, please comment. This seems to imply that companies would be accepting massive risk by using LINK to settle global transactions as they are not able to verify that none of the participating nodes/parties are from any countries that there are any sanction with. And if LINK if being developed in the USA this leads to much of LINK's potential market being cut out. Can someone please elaborate. Maybe I am misunderstanding this.

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>LINK News

That is completely relevent to chain link if you have the ability to read and comprehend the article. The USA attacks people for sanctions violations all the time and companies would rather keep using their old systems than to open themselves up to this kind of risk.

>using LINK to settle global transactions
I don't think you understand what Link does.

The Link token is merely how nodes get rewarded (and it's also used for two kinds of staking).

OK, so none of the usual FUD means anything any more to anyone that is keeping a close eye, but here's at least some food for thought.

It might not work. There is a non-zero possibility that, even with all their talent and hard work and ability to hire people, they just can't make it work. Do you realise what they are trying to deploy here? Hundreds if not thousands of nodes, every node being an extremely technical ongoing process (ie, no hobbyist or "passive" nodes, every node operator has to be completely devoted to operating and maintaining a node). There is a chance (and, depending on you level of LINK fanaticism, maybe a big chance) that a decentralised oracle network in fact presents too much of a technical challenge on an ongoing practical basis. The team understands that if the ChainLink network 80% works then it doesn't work at all. For the sort of people they are selling it to, it can't "kinda" work. It can't work "OK". It has to work impeccably. That means that they have to get potentially thousands of extremely technical nodes up and running, and they have to be working impeccably.
This isn't just "not easy". This is so difficult that even with all the tech wizardry and willpower in the world there is a chance this whole project will fail. Factor in recent question marks about the security of Intel SGX and you realise the sort of thing that could take this down. Even with a successful deployment a catastrophic security failure in the secure hardware or some other aspect of the network could arise only after deployment, and could be so ingrained to be fatal.

You can be excited about ChainLink, sure, but don't count your $100 LINK chickens until they have hatched. Any major and insoluble problem that arises during deployment could take all of the wind out of ChainLink's sails and actually kill this thing dead.

(((Sanctions)))
(((The state)))
We're shooting for hypercapitalist automated nwo nigger, sanctions and the concept of the state are retarded boomer concepts that are going to go extinct just like them

It's not about SETTLING TRANSACTIONS. It is about being involved in the process of getting transactions settled. The article outlines that if any component of the Block chain is being participated in from certain countries (((they))) will have then shut down.

>ctrl+f
>'chainlink'
>0 results

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What's it like to have an IQ

Chainlink will connect to any blockchain and/or smart contract platform. It is itself not a blockchain.
That means people/nodes can simply choose a blockchain from a non-restricted country, if it ever comes to that.

If anything, Chainlink is the solution to the problem put forth in the article.

Users can choose which oracles they use to validate their data, so couldn't they just choose nodes in non-sactioned countries to work around this issue?

> This bad news is actually good news
Deluded

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Read what I said, bucko.

If blockchains developed in certain countries ever get restricted, Chainlink will allow nodes and other users to effortlessly shift to another blockchain.
Chainlink is middleware that will work with ANY blockchain.

Sold all my link for xlm,

Lol, you sold the solution to OP's article for the very problem presented by OP's article.
gj

i read the entire article up and down and no mention of link.

why did you post this?

I've read this before. Ya fudding, son?

You're welcome btw.

priced in

>Already addressed in shadowforked code
He doesn't know...

You don't understand what link is going to be used for do you user? Were you expecting a "Link $1,000 EOY article"

just baiting a response friend

I think he was trying to fud Link by posting an article about blockchains from certain countries being restricted.
Not only is this unrelated to Chainlink since it's not a blockchain, but Chainlink even presents the solution to that problem by being easily applicable to ANY blockchain.

He disappeared after I pointed it out to him btw.

>You don't understand what link is going to be used for do you user?
Do explain.

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Chainlink is a scam. I bought 1000 of these at $1.02 and did the smart thing. I sold them at 0.70. You dumbfucks told me it would never go back under $1

OFAC plays a huge role in any large financial institutions day to day compliance, U.S. based or not. There is 0 chance that this issue is not already being addressed by SWIFT or banks looking at LINK.

Its at 0.80 right now

>Chain link will allow
So all of this time and money has went into one platform that will likely be looked upon unfavorably if some Iraqis or Russians decide to participate.

I own some LINK and want to be rich too, but this just convinced me not to go all in as I was initially planning as this could end Sergeys hopes of ever playing with the big boys.

IT SOLVES THE ORACLE PROBLEM BRO!

>So all of this time and money has went into one platform that will likely be looked upon unfavorably if some Iraqis or Russians decide to participate.
tfw you're running out of ideas so you have to turn general distrust among sovereign nations into Link fud.
Bravo.

I hope so, but I haven't heard otherwise. This remains a large consideration/concern for me, at least until this is addressed head on by the dev team.

Kek

Do you not realize this is the biggest barrier to entry for Chain LINK. Until this gets addressed, I won't risk any more money on this project.

>Do you not realize this is the biggest barrier to entry for Chain LINK.
What is?
Certain blockchains from certain countries getting restricted?
Chainlink SOLVES this problem. All it takes is a different adapter and you're on another blockchain.

>a different adapter
I don't think you understand this project

Chainlink will work on any blockchain, this is done by means of adapters.

It's literally in the white paper btw:
>ChainLink will initially be built on Ethereum [16], [35], but we intend for it to support all leading smart contract networks for both off-chain and cross-chain interactions.

link.smartcontract.com/whitepaper

I really don't get the problem if it's blockchain agnostic.

The only problem is you're not buying into OP's fud.

This is all the more reason I think we can be reasonably confident nodes that handle important contracts for financial institutions will be staked with massive amounts of link and largely if not exclusively operated by API providers themselves. They're not gonna risk paying rogue node operators in Putin's Russia or terrorists in Mogadishu.

What about if sanctioned nations started using smart contract platforms and the chainlink network? Could sergey shut them down on prevent them from using the network?

>did the smart thing
>bought $1.02
>sold 0.70
>smart

There is just no way SWIFT/banks have that big of a blind spot. LINK must have a way to allow compliance otherwise the shit ain't going anywhere.

They delivered a working proof of concept already. people seem to forget that.

it’s a meme ya dip

Said the retard who admits in the OP he doesn't understand the technicals of chainlink.

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>What about if sanctioned nations started using smart contract platforms and the chainlink network? Could sergey shut them down on prevent them from using the network?
The article says he's obligated to.

I agree and I hope so. I just would like to see some acknowledgement and confirmation.

Here's your confirmation: Chainlink literally solves the problem stated in your article.
It's time for you to stop posting.

Stop posting. You are a brainlet

We've come full circle
Now the deluded are the noLINKers

I own link if you've read the thread.

cool story bro, nice fud. youll never accumulate more with your minimum wage job, though. keep fudding, its laughably pathetic.

if you really were out, you wouldnt feel the need to broadcast it to the world. but since youre trying to buy more with your mcdonalds paycheck, you are hoping newfags will sell

the problem with your plan is youd have to be a complete fucking knuckledragger to not realize how insane link will become in the future