Latest Open Bank Project News
Apr 23, 2021
Open Bank Project (OBP) announces a strategic partnership with the API3 Foundation to unite traditional financial services and blockchain-based offerings Open Bank Project (OBP) announces a strategic partnership with the API3 Foundation to deliver banking & open banking data oracles to the Decentralized Web. The Decentralized Web (Web 3.0) is the next generation of internet applications and services enabled by blockchain technologies. Blockchains are networks of immutable decentralized transactions which are cryptographically signed by multiple actors, thus reducing the reliance on a few centralized sources of truth. However, blockchain faces a major barrier to adoption known as the API connectivity problem: a constraint that prevents the blockchain ecosystem from directly accessing “off-chain” data, including Open Banking and Open Finance data. API3 solves this issue by providing reputable data feeds via their first-in-class Airnode oracle middleware. By utilizing API3’s oracle middleware, OBP will enable blockchain developers to call over 400 of its banking APIs. This will allow the blockchain ecosystem to create crypto-banking solutions, while banks can provide data feeds directly to blockchain networks. Visit our Blockchain Banking page for more information. As part of this initiative, we will also launch a series of tech sprints to establish a battle-tested sandbox and a catalogue of blockchain-banking prototypes. Follow us on social media for more details on how to participate!