The price of LINK has increased by 22% after learning of the alliance between Vodafone and Chainlink to transform global commerce with blockchain.
This week, it was learned that Vodafone, one of the largest telecommunications operators in the world, carried out a proof of concept together with Chainlink and InnoWave, with which blockchain technology was implemented to improve the exchange of commercial documents, a structured process of data that is usually inefficient, especially when done through multiple platforms.
However, through blockchain, several of the problems related to the exchange of documents and commercial data can be alleviated, thanks to the fact that this technology allows more fluid and secure communication between companies and platforms.
Vodafone announced that it is using the Cross Chain Interoperability Protocol or Cross-Chain Interoperability Protocol (CCIP), from Chainlink, to provide security and interoperability in the exchange of commercial documents.
Thanks to this innovative protocol, companies and platforms can “securely exchange data and tokens across public and private blockchain networks, as well as IoT networks,” communicated Vodafone, indicating that the solution is favoring and optimizing the autonomous transmission of commercial data and, with it, global trade.
The news has driven up the price of LINK, which is trading above $11,0 per unit at the time of writing this article.
LINK sets new highs in 2023
LINK rose rapidly on Tuesday, as Vodafone unveiled its partnership with Chainlink. In a few hours, the price of the token went from trading at $9,8 per unit to $11,53, according to data consulted on CoinMarketCap.
With this price rise, LINK set new yearly highs, returning to the levels seen in May 2022.
Source: CoinMarketCap
At the time of going to press, LINK shows a slight correction of 0,17% in the last few hours. However, from a broader view, the Chainlink token has recovered more than 22% of its value in the last week and has grown more than 53% in the last year, being one of the best performing crypto assets on the market in this 2023.
Continue reading: CCIP, from Chainlink, an interoperability protocol to connect Web3 with the traditional financial system
