With Chainlink (LINK) and the Google Cloud, it is now possible to use the daily weather data from 9,000 stations. This enables programmers to set up smart contracts and, for example, offer insurance against natural disasters.
Natural disasters have the devastating potential to devastate entire villages and cities, as we only felt painfully a few weeks ago during the flood disaster, which was particularly evident in the Ahr Valley, for example – at least 191 people died in Germany alone. But it is not only private losses that have been recorded, agricultural businesses also suffered enormous losses, some of which wiped out their livelihoods, as a result of the catastrophe. For this reason, the news that programmers can now query weather data (such as the amount of rain or wind speed) using the Google Cloud and Chainlink is highly topical at this point in time.
As early as 2019, Google and Chainlink signed a contract that enables the tech giant to enter data from the blockchain company into the in-house Google Cloud. Now Google has announced an interesting innovation. A Chainlink adapter should in future enable developers to use the weather data from around 9,000 US weather stations for smart contracts every day – with a wide range of possible applications.
Decentralized insurance with Chainlink data
The weather data integrated in the Google Cloud enable a wide range of possible uses. Developers are given the option of using the data for various other applications. Programmers can now, for example, develop insurance programs on the blockchain that use up-to-date data to create risk assessments. Insurance claims can be enforced automatically, efficiently and without a middleman using smart contracts and weather data.
Regardless of the size or regional location of a particular farm, it would be possible to use these specifically developed insurance policies to reduce the financial risks for farms thanks to the Google Cloud and Chainlink.
In the crypto sector, the demand for qualified real-life data continues to rise – a positive development for Chainlink. It was not until August 5, 2021, for example, that the Swiss telecommunications company Swisscom published the message that the company would set up its own chainlink node in a pilot project. With this, the Swiss company would like to provide the growing DeFi market with additional data on work.