stc Bahrain, a world-class digital enabler, has announced the launch of its official Chainlink node by which it will provide smart contracts with access to a secure source of real-world data and secure off-chain computations.

The first major telecom in the Middle East and North Africa (MENA) region to launch a Chainlink node, stc Bahrain is accelerating the development of the smart contract ecosystem both in the region and across the globe, the company said.

stc Bahrain plans to enhance the digital economy by providing high-quality data and highly reliable decentralised services to smart contracts through its Chainlink node. The node will not only support Chainlink Price Feeds -- decentralised Oracle networks that supply highly accurate financial market data to Decentralized Finance (DeFi) -- but it will decentralise the delivery of data on-chain helping spur the ecosystem growth as more economic activity and value begins to migrate to blockchain networks, it said.

Saad Odeh, Chief Wholesale Officer of stc Bahrain, said: “We’re excited to launch an official Chainlink node and bring high-quality financial market data to the rapidly growing DeFi economy and smart contract ecosystem as a whole.”

He continued: “Our extensive experience in providing high-uptime telecom infrastructure for the Middle East region will help ensure the highest reliability for our Chainlink node deployment. This further showcases our commitment to advancing of the digital economy by acting as key enablers for technologies of the future such as blockchain, artificial intelligence, and advanced cloud infrastructures. We look forward to contributing to the growth of Chainlink as the industry-leading oracle network and the adoption of smart contract-based applications across the global economy.

“With accelerating demand for validated data to enhance smart contract applications, there is a growing opportunity for leading infrastructure providers like stc Bahrain to provide their services to various smart contracts,” stated Sergey Nazarov, Co-founder of Chainlink. “Through the deployment of its own Chainlink node, stc Bahrain is supporting the smart contract economy by not only delivering critical data inputs but also positioning itself to provide a wide range of off-chain computations that are critical to smart contracts.”

stc Bahrain is focused on supporting digital transformation by being at the forefront of innovation and investing in new technologies. Today, stc Bahrain is paving the way for the enablement of highly advanced solution and supporting the growing Web3 ecosystem by providing access to the external resources needed to help support the onboarding of the next billion developers and users. – TradeArabia News Service

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