Posted in Products and Services

Putting the facts on blockchain

, by Lauren Easton

Today AP announced it will work with Chainlink to help bring economic, sports and race call data onto blockchains, the decentralized computer networks for recording information in an unalterable way.

AP’s director of blockchain and data licensing, Dwayne Desaulniers, explains how this AP information is being used by the rapidly growing blockchain community.

How does this work? Where does Chainlink fit in?

Our strength at AP is trusted, factual, accurate and timely information. But this news and data needs some technical help making its way onto blockchains. Chainlink is the industry leader in helping data providers like AP serve the needs of innovative applications that comprise the growing blockchain economy. Chainlink is the bridge AP will use to ensure our news and data can be consumed by blockchain applications and services.

How are developers using AP data?

Developers who are writing applications to run on the blockchain will be able to access the AP data and information they need via the AP Chainlink node. For example, developers writing an application on the blockchain may require a quarterly GDP figure to automate a trade, or a developer writing an on-chain sports application may need the scores, schedules or latest injury reports to build a fantasy sports game. AP will be publishing this kind of data onchain for these applications to access.

This photo shows AP's first NFT, an artistic representation of its 2020 U.S. election race calls from space. (AP Photo)

Beyond that, AP published 2020 election race calls onchain, which helped settle prediction markets. We’re also excited about serving artists who are innovating with non-fungible tokens. They can design works of art that ingest real-world data from AP’s node, creating new types of dynamic NFTs. Once ingested, the art can react, change, update, and more in real time.

What’s the significance of AP news and information being used on the blockchain?

Trust. The core purpose of a blockchain is to be a publicly accessible, safe and secure record of verified information. Because AP is such an important source for fact-based and trusted information around the world, we see this as an opportunity to provide blockchain users with data and info they can trust. We believe that blockchain networks are a fundamentally important technology because they not only allow but demand veracity.

What else does AP plan to provide to the blockchain?

That largely depends on what developers and artists need in terms of data and information they can trust. We know that, at this point, financial and sports data is in great demand. We’ve also learned directly that accurate election race calls are in demand for new types of prediction markets. With Chainlink, we’ll be able to keep a finger on the pulse of the blockchain economy and serve data needs as they evolve.