Nonetheless, blockchain faces a significant barrier to adoption referred to as the API connectivity drawback: a constraint that forestalls the blockchain ecosystem from immediately accessing “off-chain” information, together with Open Banking and Open Finance information. API3 solves this situation by offering respected information feeds by way of their first-in-class Airnode oracle middleware.
By using API3’s oracle middleware, OBP will allow blockchain builders to name over 400 of its banking APIs. This may permit the blockchain ecosystem to create crypto-banking options, whereas banks can present information feeds on to blockchain networks. Go to our Blockchain Banking page for extra info.
As a part of this initiative, we may even launch a collection of tech sprints to ascertain a battle-tested sandbox and a list of blockchain-banking prototypes. Observe us on social media for extra particulars on take part!
Heikki Vänttinen, Co-founder of API3 mentioned: “API3 is extremely excited to see the blockchain business start to merge with open banking, and we will not wait to see the modern options that may develop out of this. We hope this newfound connectivity between the 2 will construct a basis for the way forward for a digital banking expertise inclusive of blockchain-enabled techniques like DeFi.”
Simon Redfern, CEO, TESOBE famous: “Unusually maybe, I had a dream about this partnership involving castles, ramparts, mountains and goblets! I am tremendous on this collision of banks, blockchains and information and offering this utility to banks, regulators and FinTechs. Trying ahead to a fruitful long run partnership with API3!”
The API3 Foundation is a Decentralized Autonomous Group (DAO) that builds decentrally ruled and quantifiably safe information feeds to energy Internet 3.0 functions with out using third-party intermediaries. Powered by Airnode-enabled first-party oracles, API3’s dAPIs are totally decentralized and blockchain-native APIs with quantifiable safety.
About TESOBE / Open Financial institution Challenge
Led by Berlin-based TESOBE GmbH, Open Financial institution Challenge is the main open-source API resolution for banks, guaranteeing a safe and speedy enhancement of their digital providing. Open Financial institution Challenge assists banks in deploying Open Banking platforms by offering entry to 400+ standardised APIs utilized by a vibrant international neighborhood of 11,000+ builders.
SOURCE TESOBE / Open Financial institution Challenge