$1000 Per Chainlink!? Here's Exactly Why It WILL Happen!! - YouTube

Chainlink, the red-headed  step child of cryptocurrency.  

There are times when it’s the talk of the  town, but then when things turn for the worst,  

everyone turns their backs on it. Except  Chico, because we stank. So you are ready to  

get stinky with my linkie...well you don’t have  a choice, because it’s time for Chico Crypto!

Ethereum, Chainlink & settling  future quadrillions? How,  

what & when? Well we think the foundation is  being laid as I present this information. How?

Have you ever head of the Depository  Trust & Clearing Corporation  

DTCC? Well its the american post  trade financial services company,  

which provides trade clearing & settlement  services to the big financial players. Today,  

the DTCC settles the vast majority of securities  transactions in the US, making it by far the  

highest financial value processor in the world, in  2011 it settled 1.7 quadrillion...ya quadrillion!!

And in May of last year, 2020 the DTCC proposed 2  case studies to further explore the digitalization  

of public and private markets. As we can see the  Case studies were called projectION and project  

whitney, with the goal of examining potential  use cases of DLT, distributed ledger technology.

So who is it? Who are the blockchains,  

and distributed tech being trialed  by this massive financial entity??

Well just a month after ION and whitney were  announced, digfin group posted this article “DTCC  

looks to extend processing to digital assets” and  they dive into one of the projects. Specifically  

Whitney. DigFin Said “DTCC has built Project  Whitney, a prototype digital infrastructure on  

Ethereum, a public blockchain, for issuer services  across primary and secondary private markets”

Yes, for Whitney “ANd IIIIIIIIII yeee IIIIIII  

will always love you…...oooowoowowo” They chose Ethereum to test this on,  

just 7 months ago. So what exactly is it??  

Whitney is the edgier of the two proposals  and aims to tokenize private securities  

and enable secondary trading. It would initially  target Regulation D (SEC Exemption) equities.

I wonder how the testing has been  going, and who was involved with it??

Well, you gotta look into who was  working with DTCC, before whitney  

on Ethereum & those highly connected right back  to Etherem. All the way back February of 2017,  

the DTCC & digital asset, moved to the next phase  of a project after a successful proof of concept  

for repo transactions and  digital ledger technology.

So they worked together back then...is  Digital Asset involved with Whitney?

Well Ledger INsights covered the whitney  launch in an article titled “DTCC proposes  

tokenizing private securities  on public Ethereum blockchain  

and they said “The PoC used the  DAML smart contract language

DTCC and digital asset, connected at the  hip. DTCC project Whitney is on Ethereum.  

How is digital asset connected to  ethereum, completing the trifecta?

Well in March of this year, the enterprise  ethereum alliance showed how. They tweeted  

“EEA member Digital Asset, with BTP, have made  the DAML smart contract engine available for  

the EEA specifications-compliant  Hyperledger Besu project –”

Digital Asset is a member of the  EEA, but they have also made their  

DAML smart contract engine ready  and prepared for Hypeledger Besu.

And if you know what Besu is, you know this has  to tie into DTCC and project whitney. Besu is an  

Ethereum client designed to be enterprise-friendly  for both public and private permissioned network  

use cases. The perfect client to serve the  needs of Whitney which needs the tokenization  

of private securities, and the ability to  trade them publicly in secondary markets.

And this is further confirmed by the  Etherean heads who helped the DTCC  

create whitney. The corporate heads of Ether,  Consensys. In July they put out a thorough blog  

post titled “Major Financial Clearinghouse Is  Exploring Ethereum for Digital Asset Management,  

which explains yes it was fully built on Ethereum  and how it uses it. Consenys said “While the DTCC  

chose to work with the public Ethereum network,  an alternative approach used by many clients to  

date would be to create a private instance of  Ethereum “Technologies such as Hyperledger Besu  

and Quorum have emerged as default choices for  enterprise-friendly Ethereum clients. The PegaSys  

suite, which was built by the team that developed  Hyperledger Besu, allows enterprises to quickly  

spin up private Ethereum networks with advanced  functionalities and 24/7 support services”

Big Bon, Chico is on. Hyperledger  Besu is a big piece of Whitney  

on the client side & guess what’s a big piece  of Besu? Something we covered and covered 1st,  

Hyperledger Avalon, formerly known  as the trusted compute framework.

You guys, remember that, I was  covering it before it was avalon,  

and when the avalon announcement  came in October of 2019.  

I knew something was up back then, but  now it’s all starting to come together.

You go to the most recent documentation on  avalon’s architecture, they show the Direct  

Model Supported Blockchains right out the box for  avalon, and of course it connects to hyperledger  

fabric, and ethereum, just like whitney...but the  client, just like whitney….it’s HyperLedger Besu.

Now, it’s time to bring the connections all  together. As the descriptions of what Whitney is,  

reveal oh so much. Well luckily, the DTCC put out  a full case study of the project, describing it  

in detail. And in phase 1: the prototype build, a  major piece of whitney is the compliance oracle,  

which from the picture is highly connected  to APIs. In compliance oracle it says “When a 

transaction is approved, the stock  record is updated, and the movement  

of tokens on-chain occurs. Can be called  through an on-chain transfer or via API.  

And in API connectivity it says “: REST  API interfaces that enables platform  

parties to perform operations such as investor  registration and off-chain transfer requests.

On chain transfers with stock  records, or off chain with API.  

This is what the compliance oracle  does. Now what was Hyperledger Avalon?  

Off chain trusted compute...going to hyperledge’r  own description on what it does “It aims to enable  

the secure movement of blockchain processing off  the main chain to dedicated computing resources”

Who was the ethereum oracle project  involved with Hyperledger Avalon!?  

The announcement post clearly stated it,  and I covered it back in 2019. Chainlink.

Whitney, clearly uses besu which uses  hyperledger avalon. The offchain trusted compute,  

oc which chainlink is the oracle piece.  Whitney has a Compliance Oracle within it.  

Connections connections connections...but then, in  november of last year, only a couple months ago.  

Chainlink dropped this blog “77 Smart Contract Use  Cases Enabled By Chainlink '' and in the section  

they specifically mention Whitney's compliance  oracle, linking to the case study by the DTCC.

And that case study from the DTCC,  as we can see dropped in May of 2020.  

I’m sure this was probably nothing,  weeks later, we got the announcement  

of the Interwork Alliance, as we can see June of  2020 for standardizing token powered ecosystems.

Going to the Interwork alliance  members...sponsor member.  

Digital Asset. And right next to each other  in principal members: Chainlink and the DTCC.

Now, what I want to finish this episode off with,  is with the guy who knows all about the DTCC  

and project whitney, artem korenyuk, executive  director of fintech and innovation at the DTCC.  

He spoke on project whitney, at the Ethereum  in Enterprise Vitual conference in July,  

let’s listen in what he  had to say about an oracle.

A multiparty workflow...and aint  this a quinkadink. Back in October,  

when Hyperledger avalan was announced, Chainlink  put out a blog post “Driving Demand for Enterprise  

Smart Contracts Using the Trusted Computation  Framework and Attested Oracles via Chainlink”  

and they say “Data-driven smart contracts provide  one of the best solutions to automating external  

business processes involving multi-party workflows  by reducing human and cross-network friction”

Why so similar? Cheers I’ll see you next time!