Is This One of Chainlink's More Interesting Partnerships?
Earlier today Chainlink (LINK) has made another announcement on their official Twitter page. This announcement was regarding a collaboration with MYKEY, a mobile phone crypto wallet. MYKEY notably has a KEY ID protocol which is a decentralized identity solution and runs on multiple blockchains.
.@mykey_lab is integrating Chainlink oracles to connect their smart wallet with retail payments, electronic signatures & biometrics. #Chainlink also allows MYKEY's Decentralized Identity solution (KEY ID) to serve as a data source for #smartcontracts. https://t.co/yk2DPB51qw— Chainlink - Official Channel (@chainlink) May 6, 2020
How A MYKEY & Chainlink Collaboration Works
This partnership of sorts will seemingly benefit both parties. With Chainlink, the usability of KEY ID is greatly expanded and will allow MYKEY to work as a data provider for smart contracts that require decentralized identity data. This allows users to make use of KEYID for digital signatures, biometrics and retail payments.
MYKEY's CEO has commented on the collaboration, saying:
"Chainlink's ability to make available a vast amount of off-chain resources, mixed with their focus on developing secure solutions that align with real-world processes, allows MYKEY to expand into a variety of new use cases as both a data provider and a more functional smart wallet. MYKEY will use Chainlink to start integrating with key Web 2.0 and Web 3.0 infrastructure, creating a much more advanced and secure user experience for our smart wallet users."
Chainlink & Other Partnerships
This seems to be one of Chainlink's more unique collaborations. While just as important, most recent partnership announcements have been DEXs, such as Bancor and Kyber and other blockchains that have chosen to use Chainlink as a price oracle.
Another less than ordinary partnership that Chainlink announced was with VIBE last December. The gaming ecosystem on the blockchain VIBE expanded their developer toolkit to include Chainlink.
It seems nearly certain that we will hear more about Chainlink and blockchain oracles in the future.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado