MDT Unveils Blockchain Financial Data Oracle to Boost DeFi Adoption
For the first time, Measurable Finance (MeFi), a blockchain oracle for financial data from the capital markets, has been launched by Measurable Data Token (MDT).
Decentralized data exchange ecosystem Measurable Data Token (MDT) pays users for sharing anonymous data points and allows the safe and anonymous transfer of data via Blockchain in a decentralized manner.
For the decentralized financial sector, the Measurable Finance (MeFi) blockchain oracle has been developed. As a result, the decentralized finance (DeFi) ecosystem has access to accurate financial data on chain through off-chain external data sources.
This product, MeFi, is designed for the DeFi (decentralized finance) market. It provides public blockchains with off-chain financial data feeds, enabling the DeFi ecosystem with trustworthy on-chain data.
Open-sourced on Github, it’s now free for anybody to use to build Dapps that use data from the financial markets to execute hybrid smart contracts on the blockchain.
First-generation MeFi connects with Nasdaq, NYSE, and HKEX stock exchanges. As part of future updates, the team also intends to make available other important financial data, such as corporate profits and financial derivatives, such as exchange-traded funds (ETFs). With MDT tokens on-chain, DeFi developers will have more access to MeFi’s financial data.
As a decentralized data economy, MDT is a safe and anonymous blockchain platform where users, data producers, and data purchasers can all securely and anonymously trade data. RewardMe, MDT’s own consumer app, pays customers for anonymous data points they provide.
An alternate data arm of the company known as Measurable AI helps financial institutions, corporations, and academics make use of anonymized transactional data to get valuable consumer insights. The MDT team has pioneered the MeFi oracle to bridge the gap between capital market financial data and the decentralized world, thanks to the increase in interest in decentralized finance.
“In the world of finance, data is akin to a superpower. DeFi innovations and Dapps must be connected to the external environment if they are to become popular” Measurable Data Token co-founder Heatherm Huang agrees.
Because of its safe links between blockchain smart contracts and capital markets, MeFi functions as the “Bloomberg on blockchain,” giving developers access to dependable on-chain financial data.
As part of the introduction of MeFi Oracle, the MDT team created a Dapp as a first use case for the technology. The MeFi Dapp, which is presently accessible on Ethereum and Testnet, enables users to access any real-world stock price information on blockchain through the MeFi Oracle.
The decentralized financial industry’s architecture would be incomplete without the use of blockchain oracles. MDT aims to be a pioneer in connecting the capital markets and the blockchain world with MeFi as a veteran in both financial data and blockchain, thereby encouraging developers to create more powerful decentralized technologies.