Blockchain technology will be the protagonist in the counting and publication of the results of the upcoming presidential elections in the United States for the election between Donald Trump and Joe Biden as the new president on November 3.
In a release official, Everipedia, a market-leading company for blockchain-based knowledge distribution, and The Associated Press (AP), a renowned American news and information agency, announced the integration of technology blockchain through chainlink and its decentralized network of oracles cryptographic services to publicly display the results of the upcoming presidential elections in the United States. The new service, called Everipedia OraQle, will integrate with The Associated Press API through a Chainlink node, and will allow the publication of election results for the first time within a blockchain network.
“In an age of misinformation, the need for verifiable information has never been greater. Everipedia’s vision is to help verify the world’s knowledge by bringing real-world data and information onto the blockchain alongside trusted organizations.”
The Associated Press is recognized as one of the most trusted news agencies in the United States and around the world. It has been actively involved in counting votes in national, regional and local U.S. elections since 1848, so as this agency collects data from the upcoming elections, it will be integrated into the blockchain network that will be used by the Everipedia OraQle service.
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Data verification
As Everipedia explains, the Chainlink node, which will be connected to the AP agency's API, will provide access to smart contracts (smart contracts) to the US voting data, which in turn will be backed by a cryptographic proof that allows to verify that the node data comes directly from the agency's original API, to which Everipedia has exclusive and authenticated access.
The AP will collect the data from reporters and authorized agency personnel in each of the territories and jurisdictions, who handle the information firsthand. The AP will then verify and sign the data cryptographically, and subsequently publish its key through Everipedia, which will use its oracle service to be able to disseminate the electoral data simultaneously through several blockchain networks.
Beyond the presidential elections
The presidential elections are scheduled for November 3 of this year in the United States, but other electoral processes will also take place, such as the vote for the Senate seats in the House of Representatives and legislative elections in some states of the country. Therefore, The Associated Press (AP) will not only participate in the compilation, counting and dissemination of the presidential results, but will also do so in the rest of the electoral contests that take place that day. As mentioned above, this information agency has been participating in these processes for more than 170 years, so it has extensive experience and a track record in the matter.
Explore the potential of blockchain
On the other hand, the integration announced by Everipedia also allows to explore and take advantage of the full potential of blockchain technology by making it possible for real-world data to be connected on-chain, providing a verifiable and tamper-proof record for the full monitoring of an electoral process of such importance and magnitude as this one. Chainlink's business development director, Daniel Kochis, I affirm that:
“Chainlink is bridging the technical gap between blockchains and real-world data. Making this powerful technology more accessible is key to realizing its full potential, and publishing AP election race calls on the blockchain for the first time is a major milestone in that journey.”
Furthermore, the integration of verifiable data, such as the results of the US presidential elections, into a blockchain will allow smart contract developers to create new financial products; for example, new prediction markets, derivatives markets and much more; which will be new products specially created to be executed and settled with the utmost reliability and trust.
For experts, the Everipedia OraQle service, and blockchain oracles in general, make it possible to have reliable sources of data, which will allow the crypto ecosystem in general to gain greater confidence and credibility.
A joint work
Likewise, Everipedia's co-founder and CEO, Theodor Forselius, stated that he was honored and excited to work with The Associated Press, as this organization has an impeccable reputation and history in journalism, fully dedicating itself to promoting only real data and facts. Forselius also recalled that his company’s vision has always been to “bring real-world knowledge to the blockchain,” a fact that for Everipedia extends to multiple chains thanks to its OraQle product and its integration with Chainlink, which allows Everipedia to significantly advance its mission and vision.
Everipedia is a company founded in 2014, which has since been working hard to bring real-world data and knowledge to the blockchain, helping to verify the facts that occur within a world where misinformation is rapidly increasing. This company has the potential to unlock a new class of use cases for real-world data within decentralized finance (DeFi).
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