Queenbee to Integrate Chainlink Oracles to Price Securitized Tokens
The Queenbee Company is excited to announce our planned integration with Chainlink, the market-leading decentralized oracle network. Chainlink oracles will be leveraged to bring private company data onto the Queenbee Blockchain, which is then used to generate valuations on securitized tokens launched on the Queenbee Platform. Some of the key datasets needed include, but are not limited to: balance sheet information, shareholder lists, third-party valuation reports, regulatory documents, trading history, and more.
Additionally, QueenBee has a longer-term goal of using Chainlink to provide decentralized price feed oracles for various securitized tokens supported on the platform, enabling them to be properly priced when used within Centralized Exchanges and Decentralized Finance (DeF) applications, such as for trading or as DeFi collateral. This will be instrumental in extending the value and utility of these securitized assets, as they can be easily integrated on other blockchains, within DeFi applications, and across numerous other on-chain or off-chain processes.
Queenbee is using blockchain technology to give Small and Midsize Businesses (SMBs) access to alternative financing options that don’t require arduous and expensive liquidation or IPO processes, and don’t rely on a token-based ICO with opaque regulatory guidelines. Instead, Queenbee helps SMBs tokenize portions of their real-world assets and/or balance sheets, which empowers SMBs to raise capital in a quicker, more efficient manner by making their assets/revenue streams available to investors via blockchains.
Initially focused on Korean and Singaporian markets, Queenbee aims to tap into the large number of SMBs located in
Asia, which are currently valued at over $100 Billion and have an annual CAGR of 14.8%. Queenbee will provide
SMBs auditing and consulting services designed to tokenize parts of their business as securitized assets on the blockchain. Chainlink will be used to bridge SMBs private company data onto the blockchain, serving as key data infrastructure for investors to reference when evaluating different securitized asset investments. Upon these assets becoming more established, we plan to help them get further integrated within the wider market via Chainlink-powered exchange rates, which other blockchain and DeFi applications can utilize to price Queenbee assets.
Chainlink is critical to Queenbee’s operations because blockchains have no built-in capabilities to obtain external data existing in the outside world (off-chain). Off-chain data, such as a company’s balance sheet, must be inputted to the blockchain by an external entity known as a blockchain oracle. However, in order to automate the oracle function and secure it against manipulation or downtime, we require a highly secure and reliable oracle solution that’s resistant to any single point of failure.
After reviewing several oracle solutions, we quickly identified Chainlink as the most proven and secure oracle solution on the market, already relied on by numerous top blockchain applications to secure billions of dollars in value. Some of the key features we appreciated from Chainlink include:
● High-Quality Data — Chainlink oracles are able to retrieve data from any off-chain data source, including those that are password protected and require credentials. This guarantees that Queenbee can get all the key datasets required to thoroughly determine SME valuations.
● Secure Oracles — Chainlink has a large collection of security reviewed oracle nodes that have a proven track record of servicing high-value contracts. This ensures Queenbee can get reliable oracle services without having to run our own oracles or count on unproven solutions.
● Security through Decentralization — Chainlink oracle networks can be decentralized at the data source and oracle node level. This leads to accurate data, high uptime, and built-in resistance to manipulation.
“Queenbee is transforming Asian private equity markets by making them uniquely available to decentralized finance applications across a variety of public and private blockchains,” said Queenbee CEO Kanghyek Lee. “By integrating Chainlink, we will ensure that these securitized assets are properly valuated in a secure, accurate, and transparent manner, which will then extend their utility to be both a store of value/revenue-producing asset as well as a secure form of collateral within other financial products.”
We look forward to exploring more Chainlink solutions in Queenbee’s upcoming enterprise product offerings. Chainlink’s proven decentralized solution will be essential in our efforts to revolutionize the financial opportunities available to small and midsize businesses across Asia.
Chainlink is the most widely used and secure way to power universal smart contracts. With Chainlink, developers can
connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter.
ABOUT Queenbee COMPANY
Queenbee COMPANY is a financial blockchain company and the developer of QBEE Platform, aiming to utilize blockchain technology to build a digital asset ecosystem hub in the Korean and Far East Asian digital asset market through a co-operation with 1 Exchange, a regulated digital asset platform owned by CapBridge, a Singapore-based asset management company. CapBridge’s capital market occupies an important position in the global financial markets with abundant market opportunities and resources.
Queenbee is also aiming to provide unlisted companies with professional third-party consulting services, offering digital asset pre-listing compliance review, security review, asset valuation, feasibility analysis, professional guidance, and other services regarding asset tokenization procedures through a new method of funding, STO, regulated by the government. STO is based on real assets and markets, helping blockchain project investments become more standardized and sustainable compared to traditional IPOs and securities.