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Will Chainlink's initiative create a new industry standard for corporate actions data by end of 2025?
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Chainlink•Euroclear•Swift•Franklin Templeton•UBS•Wellington Management•Citi•ISO•Securities Market Practice Group
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Chainlink Partners with Euroclear, Swift, Franklin Templeton, and UBS to Standardize Corporate Actions Data via AI and Blockchain
Oct 21, 2024, 07:10 PM
Chainlink has announced the results of an industry-wide initiative involving Euroclear, Swift, and six financial institutions, including Franklin Templeton, UBS, Wellington Management, and Citi, demonstrating how artificial intelligence (AI), decentralized oracles, and blockchain technology can standardize and automate corporate actions data reporting. The initiative successfully showed how Chainlink's oracle networks can be combined with large language models (LLMs) to transform unstructured corporate actions data from issuers into standardized, machine-readable formats, bringing them on-chain. This approach conforms to the ISO 20022 framework and the Securities Market Practice Group (SMPG) standards, aiming to address the long-standing challenges of collecting and standardizing essential corporate actions data, such as mergers and dividends, which is vital information for investors. The project demonstrated how AI, blockchain, and decentralized oracles can transform legacy systems that suffer from a lack of standardized and real-time data.
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