In Brief:
- MDT announced the launch of Financial oracle service named Measurable Finance
- The company revealed a dApp for users to watch trading data from leading financial marketplaces such as Nasdaq
- Heatherm Huang, co-founder of Measurable Data Token called MeFi as ‘Bloomberg on the blockchain’
Measurable Data Token (MDT) launched Measurable Finance (MeFi), which is a blockchain-based oracle service. The purpose behind this development is to connect conventional financial data markets with the decentralized finance (Defi) sector.
As per Company’s project, The platform had revealed a decentralized application (dApp), where users can access Ethereum and testnet blockchains. On this App, Defi participants can go through the stock trading data from the world’s leading financial marketplace such as Nasdaq, New York Stock Exchange as well as NY and Hong Kong Stock Exchange.
With the induction of these services, Measurable is hoping to merge and reduce the gap between Defi and the conventional market. In simple words, The company wants to unify real-life and On-chain worlds.
Oracles are the third-party data source company for different entities such as temperature levels or sports scores, which have no direct connection with blockchain, But can be used to verify smart contracts.
Projects such as Chainlink and Band Protocol are already using this technology for data operation.
Heatherm Huang, co-founder of Measurable Data Token called data a superpower in the market by quoting “If DeFi is to go mainstream, DeFi innovations and DApps have to connect with the external context. MeFi serves as the ‘Bloomberg on the blockchain’ — its secure connections between blockchain smart contracts and capital markets help developers access reliable external financial data on-chain.”
Moreover, the project will also enhance the scope of financial data to add derivatives and exchange-traded funds (ETF) through the adoption of its native token (MDT).
