Chainlink (LINK) Adds Bahrain Telco As A Node Operator

February 28, 2022 7:12 pm Comments

A subsidiary of Saudi Telecom Company, Bahrain Telco, has announced that they will be working with Chainlink and is the first telecommunications firm in the region to do so.

The way the two will collaborate is that the company will utilize Chainlink’s technology and infrastructure by operating a Chainlink node which will essentially provide them access to real-world data and computational power.

This recent announcement follows a long line of other partnerships that Chainlink has added to its roster in the past few months which include Deutsche Telekom and Swisscom.

Chainlink’s partnerships span a variety of different industry sectors such as providing real-time data and price feeds for decentralized finance, validated election data, and accurate weather data.

CoinDesk reports:

In recent months, Chainlink, the undisputed heavyweight when it comes to providing blockchain-based smart contracts with external data, has partnered with an array of real-world data and infrastructure providers, including price feeds for decentralized finance (DeFi), weather data and trusted election results.

It’s the third telco to work with Chainlink; Deutsche Telekom, something of a trailblazer in the public blockchain space, was the first to partner with Chainlink, and Swisscom is also advanced in this area.

Bahrain’s central bank has been forward-thinking in its creation of a regulatory framework, making it an important hub in the region.

For its part, stc Bahrain has introduced financial services and insurance and is venturing into content aggregation and gaming, not to mention kicking the tires of blockchain, according to Saad Odeh, stc Bahrain’s chief wholesale officer.

Bahrain is considered to be a subsidiary of the larger telecom giant Saudi Telecom Company and is known to be the first to try out new technologies involving blockchain, crypto, and decentralized finance.

Saad Odeh, stc Bahrain’s chief wholesale officer, has stated that the company is testing this concept first and will likely continue to rollout the project to the rest of the company if the Chainlink project is a success.

The company plans to use the Chainlink node specifically to run its financial markets with accurate information and that the technology could eventually expand to other sectors such as healthcare information or consumer behavior.

The Middle East and North Africa (MENA) region so far has been one of the places in the world that has been openly embracing the use of blockchain and crypto.

Chainlink had also recently done a similar project with Deutsche Telekom.

CoinDesk reports:

Deutsche Telekom AG, Europe’s largest telecommunications company by revenue, is now one of the main data providers to Chainlink – the omnipresent oracle service on which decentralized finance (DeFi) relies.

Not only that, Deutsche Telekom subsidiary T-Systems Multimedia Solutions (MMS), says it has begun staking on the Flow Network, the ultra-scalable proof-of-stake (PoS) blockchain from CryptoKitties creator Dapper Labs, and has plans to begin staking on several other chains in the near future.

It’s only a matter of time until other big enterprise firms follow Deutsche Telekom’s example and run Chainlink nodes, said the network’s co-founder, Sergey Nazarov.

With three large telecoms now added to Chainlink’s roster, this sets up a good foundation for Chainlink to continue to grow its network and hopefully expand the number of large enterprises it works with.

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