Home CryptoCurrency News Chainlink News QLC Chain Integrates Chainlink; Aiming For New DeFi Products

QLC Chain Integrates Chainlink; Aiming For New DeFi Products

The latest customer for Chainlink’s oracle comes from Singapore. QLC is a blockchain project focused on information and communication technology (ICT) infrastructure. It will integrate Chainlink to provide on-chain data for smart contracts.

“The initial use case involves retrieving off-chain data about mobile network usage and storing it on-chain, which is then used to calculate and automate on-chain payments from ICT consumers,” according to QLC.

Oracle for ICT Infrastructure Management

Traditional infrastructures in the ICT ecosystem rely on some od-fashioned systems to calculate the price of their services. Their payment systems are not that secure, either. QLC tries to improve the situation by offering blockchain solutions for connecting legacy telecommunications monitoring and billing systems. It offers on-chain payment methods for interested users, too.

QLC van leverage the Chainlink’s oracle to fetch off-chain data like usage reports and then automate the settlement processes. It can also provide some data from ICT infrastructures to the Chainlink network that will help smart contracts using Chainlink.

“Operators and carriers are highly dependent on each other’s network to fulfill customers’ connectivity requirements, however, cross-platform operations are conducted offline across multiple disparate systems of record,” said Allen Li, Co-Founder & CEO of QLC Chain. “Combining QLC Chain and Chainlink provides a highly secure and reliable framework to create a single, trusted system of record, which can help support a commercial service layer among telecommunication service providers for settling contracts involving mobile usage, roaming, bandwidth-on-demand, and more.”

QLC plans to expand its services using Chainlink’s oracle. They are working on a proposal to tokenize ICT infrastructures. The move will offer the chance to invest in ICT infrastructure for regular users.

Another essential part of QLC Chain’s partnership with Chainlink focuses on the verifiable random function that helps them provide more secure and fully randomized 2FA services.

“By developing a secure and reliable bridge between QLC and off-chain telecommunications networks, users can trust that on-chain payments and other DeFi products built upon QLC Chain are highly secure and reliable,” said Daniel Kochis, Head of Chainlink Business Development.


If you found this article interesting, here you can find more Chainlink News

Mehdi Zare
Mehdi Zare
I am a young father who always loves to learn. Security and privacy topics are my main interests, and so, blockchain as one of the most strong security and privacy solutions of the modern industry excites me too.
- Advertisment -
#NamePriceChanges 24H