Chainlink Teams With Major Financial Institutions to Fix $58B Corporate Actions Problem

Chainlink is collaborating with 24 significant financial institutions to enhance corporate action processing by integrating blockchain and AI technologies. A pilot project involving firms like SWIFT and DTCC demonstrated Chainlink's ability to extract and validate data efficiently, producing unified records almost in real-time while significantly reducing manual effort and risk of errors. This initiative aims to tackle the costly corporate actions processing system, which incurs an estimated annual expenditure of $58 billion. By employing large language models, Chainlink was able to transform unstructured data from corporate action announcements into structured, reliable on-chain records, creating a single source of truth accessible to all participants. This approach achieved near 100% data consensus across test events, emphasizing its potential to streamline operations in the global financial sector.

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