Chainlink Ink Partnerships to Automate Corporate Actions With AI

Chainlink, a top provider of decentralized oracle networks, has announced a new partnership with Swift, Euroclear, and six other major financial institutions. The six institutions are Franklin Templeton, Wellington Management, UBS, Vontobel, Sygnum Bank, and CACEIS. Together, they will use artificial intelligence (AI) and blockchain technology to improve corporate action management. 

Chainlink to Ensure Efficient Corporate Processes

According to a blog post, this initiative will simplify and automate corporate action processes, which are less efficient and consistent in data management. Likewise, it will create a “golden record” by streamlining these processes.

The technology at the core of this effort includes Chainlink’s decentralized oracles and large language models (LLMs). This technology will help financial institutions deal with the common challenges in corporate action data. Notably, Chainlink’s decentralized oracles will securely connect external data sources with blockchain systems to ensure the accuracy and security of the information. 

At the same time, AI-powered LLMs will automate the interpretation and processing of large volumes of corporate action data. 

Chainlink Introduces Privacy-preserving Tools

Meanwhile, Chainlink has introduced new tools to keep financial transactions private and secure across blockchain networks. These tools address concerns about data confidentiality. Australia and New Zealand Banking Group (ANZ Bank), is among the first to use Chainlink’s privacy-preserving features. 

ANZ plans to use Chainlink technology to help settle real-world assets (RWAs) across blockchains. This will make settlement processes more efficient while keeping transactions private. Recall that the Depository Trust and Clearing Corporation (DTCC) completed a pilot program in collaboration with Chainlink. The program advanced the tokenization of traditional finance funds. 

The pilot also implemented better-automated data management, limiting the impact on traditional financial institutions’ existing market practices. Furthermore, it enabled clients to retrieve historical data without manual record-keeping and provided broader API solutions for price data. The success of this pilot program reflected a growing enthusiasm for RWAs among traditional financial institutions.

AI Revolutionizes Blockchain Crime Detection

Intriguingly, government authorities are set to embrace AI to track and solve blockchain-based crimes. According to Michael Gronager, CEO of blockchain analytics firm Chainalysis, AI-driven investigations will become the standard tool for law enforcement agencies within the next three to five years.

Gronager highlighted the transparency and scalability of blockchain technology for solving crimes globally. He emphasized that AI agents could streamline the investigative process more effectively than traditional government agents. This will minimize overlap between departments and provide deeper insights into illegal activities conducted via cryptocurrencies.