Chainlink’s decentralized oracle solution has seen another real-world application. Arbol, a software platform tasked with weather broadcasting solutions, has integrated Chainlink’s on-chain oracles in weather broadcasting service.
Arbol announced in a blog post that it has developed the world’s first live in-production weather coverage product on the blockchain, powered by smart contracts and Chainlink oracles. This integration will allow businesses and farmers to safely expand their operations knowing that they are fully covered against periods of unforeseen weather events.
According to the announcement, Arbol is leveraging on the Ethereum smart contracts and Chainlink-powered data feeds to offer weather coverage free from all the downsides and inefficiencies that negatively affect traditional insurance agreements, such as fraud, corruption and delays.
Arbol provides solutions to these problems by offering an international weather risk marketplace built on the Ethereum blockchain. This ensures that payments are autonomously done to the correct parties at the time of execution using deterministic weather data delivered by Chainlink’s oracle network.
The application of Chainlink oracles introduces transparency and permissionless access to key financial instruments. This ensures that one bad season does not cause financial ruin to businesses and farmers. Through the integration with Chainlink, Arbol will be updating the insurance industry with unlimited possibilities for how to protect against risks.
Through this integration, Arbol will leverage Chainlink’s oracle network and external adapter technology to connect the smart contracts providing coverage to rainfall datasets from the National Oceanic and Atmospheric Administration (NOAA), and others. This ensures that the smart contracts, as well as the inputs that trigger them, are all secure and reliable.
Slddhartha Jha, Arbol founder and CEO, said Chainlink has proven itself to be the market leader in providing premium data feeds to smart contract applications. He added that their decentralized architecture provides further security and reliability guarantees to users relying on Arbol for critical weather coverage.
Chainlink continues to inked partnership deals with several platforms amid LINK’s latest rally. Just this week, Arbol is the second platform to announce the integration of Chainlink’s oracle network. Earlier in the week, Nervos Network also announced that it has integrated with Chainlink to bring decentralized oracle solutions to its network.
South Korea’s Jeju Island is ensuring good health and safety of its tourists through the use of a new blockchain mobile app. The Island has taken strong measures to prevent the spread of COVID-19 in the region. It has realized the significance of strengthening its contact tracing capabilities while ensuring the privacy of its residents and visitors. Jeju Island is known to be the most popular domestic tourist destination and has about 15 million annual visitors.
According to a report, the Jeju Island has announced that it will be employing ICONLOOP’s Decentralized Identity (DID) blockchain technology for private and secure COVID-19 contact tracing. ICONLOOP and the Jeju Special Self-Governing Province signed a partnership agreement to introduce this innovative COVID-19 infectious disease prevention system.
This new COVID-19 contact tracing system will be officially operated to private businesses in the 8 districts of Jeju Island, says the report. The system is serviced through ICONPOOL’s DID authentication mobile app service known as Zzeung. This application protects the privacy of all users on the platform and also ensures convenience. Visitors will use the mobile app to check into tourist sites and businesses on Jeju Island, while their data is being kept private unless a COVID-19 case is identified.
COE of ICONPOOL, Jong-hyup Kim stated that this cooperation with Jeju Island is opening new possibilities for real-life application of blockchain DID authentication in the post-pandemic era. He added that, as more users directly experience safe and convenient DID service at scale, ICONPOOL will realize many more new ways that blockchain can be applied to their daily lives.
Director of Health and Welfare of Jeju Self-Governing Province, Tae-bong Lim, also stated that the Island will be able to be reborn as a safe and representative tourist destination in Korea through this new infectious disease prevention system.
The report also revealed that ICONPOOL and Jeju Island recently started a pilot program for provincial government offices. The operation will expand to include over 50 private businesses on August 24.