Latest news with #SmartData
Finextra
9 hours ago
- Business
- Finextra
UK launches Smart Data Group to bring benefits of open banking to more sectors
The UK is looking to build on the success of open banking through the launch of a government-backed, industry-led Smart Data Group designed to unlock £28 billion in economic value across a variety of sectors. 0 Last week, the Data (Use and Access) Bill passed in parliament, paving the way for the expansion of the open banking model, giving consumers the power to share their data more widely across new use cases in energy, finance, telecoms and retail. By enabling Brits to explicitly consent to secure, standardised sharing of personal data with providers, the aim is to ensure these users can get tailored services, seamless switching, and better deals. Chaired by former Minister for Smart Data, Paul Scully, The Smart Data Group has been tasked with making this a reality, uniting policymakers and industry experts. Open banking veterans Richard Newman and Clare Ambrosino will be in operational charge of the group, with advisory board members including Jonathan Ashworth, Lord Iain McNicol, Lord Martin Callanan, and Sir Robbie Gibb, underscoring strong cross-party support. Business and Trade Minister Justin Madders says: 'Smart Data has the power to transform the way we do business and has potential to supercharge start-ups across the country. 'This new group will play an important role in unlocking that potential, and our modern Industrial Strategy will be a driving force to boost our priority sectors and drive economic growth right across the nation.'
Yahoo
05-04-2025
- Business
- Yahoo
Should You Buy the Dip in Chainlink Right Now?
The crypto market was on a roll in 2024, but many of the leading names have backed down in recent months. The Chainlink (CRYPTO: LINK) oracle coin had doubled in 52 weeks on Dec. 17. That turned out to be the peak of this surge. The coin price dropped a staggering 43% from there to this writing on April 2. By contrast, the massive Bitcoin (CRYPTO: BTC) rose 151% and then backed down by just 19% in the same time spans. Chainlink's chart has lost its swagger. Today, the coin is trading 24% below its year-ago value. Did Chainlink investors get too excited last fall, or is the coin an excellent buy at these lower prices? Let's take a look. Spoiler alert: I bought a few Chainlink coins three weeks ago. I'm down 5% on that investment so far, including the 1.8% headwind from Coinbase's (NASDAQ: COIN) transaction fees. You can get an even nicer starting price today. In other words, I'm so convinced of Chainlink's long-term value that I'm putting real money in it during this price dip. Read on to see why I think you should consider a small Chainlink position, too. Different cryptocurrencies serve different purposes. Chainlink is the leading provider of a certain service, and it's not a close race. As an oracle coin, Chainlink provides real-world data to smart contracts. Its decentralized data feeds cover thrilling topics such as gold and silver prices, currency exchange rates, and inflation rates. Its data streams update more often, focusing on dollar-based cryptocurrency pricing data so far. There's a third data service called SmartData, which looks at more esoteric information about popular cryptocurrencies, such as the current cash reserves behind most stablecoins. App developers can use this data to design smart contracts, running on well-known platforms like Ethereum (CRYPTO: ETH) or Solana (CRYPTO: SOL). The idea is to monitor Chainlink's data feeds and streams until one or more values reach a defined target value. That event then triggers the execution of that contract, which can mean many things. For example, the contract might send 0.1 Bitcoin to a certain address when inflation is below 3% and the Euro is worth more than $1.20. That's just a silly illustration off the top of my head, but you can set up some mighty sophisticated contract terms with Chainlink's real-time data. So Chainlink serves up fresh data to a whole world of decentralized finance (DeFi) tools. Every data request comes with a very small fee. In the long run, this pool of tiny payouts should add up to real money. You'd think the crypto market would be packed with alternative Oracles, all hoping to snag a piece of Chainlink's money-making opportunity. But there really isn't a groundswell of potential Chainlink usurpers. Chainlink's total market value stands at $9.2 billion today. According to CoinMarketCap, the second largest Oracle coin is Bittensor (CRYPTO: TAO) at $2.0 billion, followed by Pyth Network (CRYPTO: PYTH) at $528 million. Those are the only three Oracles large enough to let me write about them. The rest are worth less than $200 million each and their transaction volumes are a tiny fraction of Chainlink's. And these two potential rivals are not quite the same thing as Chainlink. The Pyth Network only offers cryptocurrency pricing and Bittensor is trying to build artificial intelligence (AI) systems and machine learning models on the blockchain. Its data feeds are designed to support these AI tools, and are not easily available to Ethereum or Solana apps. Chainlink is a unique provider of valuable services in the crypto world. DeFi apps and large-scale automated crypto traders may not represent a huge target market today, but that should change over the next few years. As such, Chainlink's data services could become very valuable over time. It's still early, and not at all too late for new rivals to enter the picture. However, Chainlink has a huge first-mover advantage here and I can't wait to see how my little investment shapes up over the years. This little subsector leader looks like a great buy in this price dip. Before you buy stock in Chainlink, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Chainlink wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $676,774!* Now, it's worth noting Stock Advisor's total average return is 824% — a market-crushing outperformance compared to 164% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 1, 2025 Anders Bylund has positions in Bitcoin, Chainlink, Coinbase Global, Ethereum, and Solana. The Motley Fool has positions in and recommends Bitcoin, Chainlink, Coinbase Global, Ethereum, and Solana. The Motley Fool recommends Bittensor and Pyth Network. The Motley Fool has a disclosure policy. Should You Buy the Dip in Chainlink Right Now? was originally published by The Motley Fool Sign in to access your portfolio
