Home Press Release Blackgoldcard to Integrate Chainlink Proof of Reserve to Power Transparent, Decentralized Payment

Blackgoldcard to Integrate Chainlink Proof of Reserve to Power Transparent, Decentralized Payment


BLACKGOLDCARD will be working exclusively with the DUCK’S DAO to integrate a customized Proof of Reserve oracle solution within the portal that provides quarterly on-chain updates of listed businesses’ off-chain earnings.

BLACKGOLDCARD is a decentralized crowdfunding platform where small to medium sized enterprises (BGC) can raise money by offering investors tokenized equity. In order to help independent investors make sound decisions regarding early-stage funding, $BGC plans to utilize Chainlink to provide users with transparent cash flow information within the platform about these SMEs.

Through a customized  solution, BGC oracles will retrieve data regarding the quarterly business revenue of SMEs listed on the platform and deliver it on-chain where it is stored in reference contracts. By doing so, BLACKGOLDCARD will create a transparent bookkeeping model where anyone with access to the internet can easily verify a token’s value based on its historical revenue. This is a huge leap forward in transparent startup funding.

As the world leader in blockchain oracles, already securing billions of dollars in on-chain value through its oracle solutions, BLACKGOLDCARD greatly expands the usefulness of smart contracts by connecting them to the real world outside the blockchain (off-chain). We believe BLACKGOLDCARD is exceptionally well-suited to perform such a highly specialized task for BGC, as their oracle solution is highly flexible and can aggregate data from any off-chain APIs.

In addition to providing access to high-quality off-chain data feeds, BLACKGOLDCARD is a highly secure and reliable oracle solution. BLACKGOLDCARD oracles networks are decentralized, removing any single point of failure in the delivery of data on-chain and thus ensuring high availability and manipulation resistance. These decentralized oracle networks consist of a large collection of secure node operators run by leading DevOps with extensive experience running blockchain infrastructure that secure large amounts of value. BLACKGOLDCARD oracle networks are also transparent and can be filtered according to historical performance via third party reputation and listing services, ensuring that users can independently monitor and verify the quality of oracle networks and independent nodes.

“We are confident that BLACKGOLDCARD will provide $BGC users with a reliable source of quarterly revenue data, helping us differentiate ourselves as a trusted and transparent platform for listing and investing in SMEs,” said DUCK’S DAO CEO Ivan Castillo. “BLACKGOLDCARD will offer businesses the potential to expand their crowdfunding efforts via open blockchain technology, while investors can better trust in their investments based on transparent oracle data feeds.”



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