The EEA Mainnet Working Group, an initiative backed by both the Enterprise Ethereum Alliance and the Ethereum Foundation to bring enterprises to the Ethereum mainnet, has formed a new task force that includes decentralized oracle project Chainlink as a key member.
That task force, dubbed EMINENT for “Ethereum Mainnet Integration for Enterprises,” will work to create reliable standards for businesses that want to use “corporate systems of record” like the Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) systems in conjunction with Ethereum.
We're excited to work w/ @UnibrightIO, @AnyblockTools, & other EEA members on EMINENT (Ethereum Mainnet Integration for Enterprises). Its focus is on the standards & specs for integrating Ethereum Mainnet with ERP, CRM, & other corporate systems of record. https://t.co/BO802xNWGE
— Chainlink – Official Channel (@chainlink) January 27, 2020
Chainlink has been welcomed to the EMINENT initiative as its resident oracle authority.
Chainlink will also be joined on the task force by analytics firm Anyblock Analytics and Unibright, a company that helps enterprises integrate with blockchain technology.
What Comes Next?
The task force will spend up to two years on their work, first in researching the recording dynamics at hand and thereafter in establishing guidelines and creating open-source reference implementations that businesses can follow.
As the EEA Mainnet Working Group explained further in its announcement of the task force this week:
“Initially, the task schedule will focus on defining work packages, then expand into building best practice solutions within proof-of-concept implementations, and finally provide open-source available documentation and specification basis (like ERC standards) for further development by the public Ethereum community and EEA members.”
John Wolpert, the vice-chair of the EEA Mainnet Working Group, noted on the news that Chainlink was uniquely suited to productively contribute to the new task force:
“To make this work, we need experts laying down the standards for common-sense integration with enterprise systems of record. Unibright has the experience connecting blockchain to ERP. Chainlink has the experience keeping different databases, run by different companies, in a state of consistency. That’s a promising combination.”
Sergey Nazarov, the co-founder and de facto face of Chainlink, commented that he and his team are looking forward to helping the EMINENT initiative tackle the challenges in front of it head on, saying:
“We’re excited to work closely with the EMINENT Task Force to continually push the boundaries of what’s possible in public blockchain environments. Developing mainnet integration standards that take into account the specific challenges of enterprises is key to the EMINENT Task Force being able to leverage the unique advantages of public blockchains, while seamlessly and securely incorporating their current systems of record and key data sources.”
No stranger to locking down integrations with other projects, Chainlink’s backers have secured another three melds with their decentralized oracle middleware in just the last week alone.
The first of those newly announced integrations was with BetProtocol, a decentralized gaming platform. Among other things, the protocol will look to leverage Chainlink so users can settle bets with off-chain data.
The second fresh link up comes courtesy of ICON, the South Korean blockchain project associated with the ICX cryptocurrency. “The initial application is securing the ICX/USD price feed so ICON Dapps can build financial products based on the USD equivalent of ICX,” the Chainlink team explained.
Thirdly, Chainlink also just revealed that its tech would be used by the Alkemi open finance prime brokerage platform to “to enforce price thresholds (for unlocking assets pre-expiry date) set by on-chain liquidity providers.”
In other words, it’s been a typical week for the Chainlink community, which is now used to quickly racking up such integrations after locking down dozens last year.
If the project can keep up a similarly rapid and productive pace in 2020, then it’s likely to remain the most interesting oracle effort to watch in the months ahead.