Google Cloud implements smart contracts for capital markets data analysis

Google Cloud implements smart contracts for crypto data analysis
1 year ago
2 mins read

Google Cloud has integrated with cross-chain data oracle blockchain, Band Protocol to provide accurate price data to all capital markets.

According to Google Cloud, the integration is live on Google BigQuery, and the analytics data will be derived instantly through machine learning.

Band Protocol notes that the partnership will push the platform’s use cases and expand the data available on BandChain even further. The financial data will be from the auto encoder-decoder that presents itself as a dataset that supports a new decentralized oracle’s creation.

Notably, Band focuses on enabling users to leverage decentralized oracles for external data. In a tweet, Band Protocol explained the integration’s impact:

“Together, Google Cloud and Band Protocol are empowering researchers and developers to use decentralized oracles for any external data source and type, whether the application is built on the blockchain or Web 2, through the flexible design of Band Protocol oracles.”

Band Protocol said that the integration into Google BigQuery is part of its mission to bridge the gap between the blockchain sector and traditional enterprises. 

Band hits new all-time high

The news directly impacted the Band price, surging by 29% in value to trade at $21.23 by press time, according to CoinMarketCap data. The asset also hit an all-time high of $23.19. Over the last 24 hours, Band’s trading volume has gained by 385%. 

BAND token price performance (year-to-data). CoinMarketCap.com data.

Band’s partnership is a crucial development considering that Chainlink has dominated the decentralized oracle solutions. Overall, decentralized oracle solutions are an essential part of the infrastructure in the crypto markets.

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Jordan Major

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.