Uno Re announces integration with Chainlink.
As a decentralized reinsurance platform, Uno Re plans to leverage the widely used Chainlink Price Feeds across Binance Smart Chain (BSC) and Polkadot to price policies, risks, and/or payouts in various crypto and fiat currencies. Additionally, they will utilize Chainlink’s flexible framework to securely expand our offering to various parametric insurance covers, such as weather and flights, using an aggregation of premium data feeds supplied by Chainlink. They selected Chainlink because it’s a time-tested decentralized oracle infrastructure that can be easily integrated to obtain high-quality data about a wide range of assets and events. Chainlink already secures billions of dollars in value across DeFi and Insurance, with proven resistance to various unexpected situations like API downtime, flash crash outliers, and data manipulation attacks via flash loans.
About Uno Re
Uno Re will be the world’s first decentralized reinsurance platform powered by Polkadot, allowing the community to invest and trade in ‘risk’ and receive sizable returns on their investments in one of the safest asset classes in the world. The platform will break barriers to entry for the retail investor by doing away with the historic pre-requisite of absurdly high capital generally needed to invest into the market while also introducing much-needed transparency into the industry as a whole. UnoRe will also allow the community to propose innovative insurance products to the space, thus propelling a new generation of Insurtech companies powered by the UnoRe ecosystem.
About Chainlink
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains and real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink introduces a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
⬇️DETAILS:
https://medium.com/uno-re/uno-re-announces-integration-with-chainlink-5bcc0932d0b8
