On Monday, Oracle announced it had selected the initial cohort for a blockchain innovation project with Chainlink. The chosen 20 startups will use the Oracle blockchain and Chainlink’s decentralized oracle network to develop new solutions. This will also help the firms in developing best practices and further the smart contract ecosystem.
Announced in July, the project invited startups to apply for the chance to work with Oracle’s tech and build smart contract applications. It is jointly run with Chainlink, which acts as secure middleware for smart contracts to access data.
This initial cohort will be API providers to the Chainlink node operators, and will work with third-party APIs including LinkPool and Honeycomb. Oracle hopes that the project will incubate innovative applications and help improve it and Chainlink’s technology.
The first cohort
One of the participants is Swiss blockchain platform Insolar, which is gearing up to a November 1 mainnet launch. It announced partnerships with national innovation agencies earlier this month.
Cash flow management firm CashPundit focuses on interoperability and usability, with automated notifications and forecasts. Meanwhile, fintech startup Crowdz is building an all-in-one invoicing platform with Barclays. Crowdz is a partner of fellow participant Quant, which established the Overledger multi-chain network and blockchain operating system.
Agropacking Solutions provides traceability tech to the farming sector, tackling fraud and illegal use of pesticides. LotsApp similarly certifies agricultural materials for supply chain applications. Fellow Brazilian initiative Gravel Coin aims to tokenize gravel for the building industry, bringing blockchain to the mining sector.
Monochain is a peer to peer marketplace aimed at sustainability in clothing use, utilizing blockchain in issuing certificates of ownership. German traceability firm retraced aims to bring transparency to the clothing industry with its Hyperledger Fabric-based system.
MaxCentive uses blockchain in its platform for managing payouts, including commissions, loyalty benefits, and employee compensation. It integrates with accounting software and includes a digital wallet. WorldLaw uses cryptographically secure signatures to manage legal evidence and claims digitally, and has a built-in Ethereum payment system.
Insurtech firm DriveOn provides a platform for auto insurers, with intelligent analysis of driving behaviors.
The remaining participants are mostly tech firms; for instance Internet of Things (IoT) startup bluField uses Bluetooth to create interconnected beacon networks.
AtCash is a collection of trust networks for sharing of data compliant with, for instance, KYC or AML laws. British company Constellation enables clients to connect their business to the smart contract economy. Also UK-based, CyNation is a cybersecurity firm with an automated risk assessment platform for supply chains.
Tech provider North East offers a trustless, decentralized infrastructure along with consultancy services and smart contracting. Snapper Future Tech is an Indian development firm focused on the Internet of Value (IoV), with blockchain solutions in health, supply chain, and e-governance.
Blockchain protocol Credits is fine-tuned for DApps and boasts IBM and Lenovo as partners. Ld8a (Ledger Database Technology) combines the immutability and transparency of blockchain to centralized databases, and will help ensure off-chain data integrity.