Decentralized data management platform Instruxi integrated the Chainlink standard for verifiable data and offchain compute into its Space and Time (SxT) Adapter and Beacon Functions Contract. By streamlining access to Chainlink Proof of Reserve and Functions, Instruxi aims to boost enterprise adoption of web3 applications and tokenized real-world assets (RWAs).
RWAs are blockchain-based tokens that represent physical or traditional financial assets, such as cash, debt, securities, commodities, and real estate. Because tokenized assets confer new opportunities such as fractionalization and programmability alongside better liquidity, transparency, and risk management, the space is projected to reach $10 trillion by 2030.
Proof of Reserve (PoR) leverages Chainlink’s time-tested oracle infrastructure, which has enabled over $19 trillion in transaction value, to provide cryptographically verified, real-time updates for reserves backing digital assets. Offering superior transparency and accuracy compared to annual statutory audits, interim audits, and monthly proof of reserves, PoR has become a vital tool for enterprises building next-gen applications and tokenizing RWAs.
Instruxi’s SxT Adapter allows users to combine verifiable data from SxT with external data sources to create complex data products. Enhancing access to PoR allows enterprises to develop onchain applications with reserve verification in an efficient, user-friendly way.
As the industry-standard serverless web3 development platform, Chainlink Functions allows developers to build next-gen decentralized applications capable of integrating a range of real-world data sources, from public or password-protected APIs to IoT devices, enterprise systems, and more.
Instruxi’s Beacon Functions Contract operates as an intermediary within the Chainlink Functions ecosystem to help unlock a wide array of use cases, from identity verification to connecting web2 and web3 applications.
“We’re excited to integrate the Chainlink standard and help enterprises access reserve verification and offchain data and compute in a highly efficient manner,” said Instruxi co-founder Austin Przybysz in an official announcement.
“Streamlining the integration of Chainlink Proof of Reserve and Functions will unlock next-gen applications and drive the growth of Web3.”
As Instruxi co-founder Mathew Harrowing recently told Nasdaq’s Jill Malandrino, Chainlink is a key player in Instruxi’s vision for a universal, feature-rich, privacy-preserving RWA solution.
Last July, Instruxi joined the Chainlink Build program to receive enhanced access to essential infrastructure and technical support. In October, Instruxi joined forces with Chainlink, CLEAR, and SxT to launch the Instruxi Mesh ID, a privacy-preserving identity solution which uses Functions and Chainlink Automation to simplify RWA access for over 22 million U.S. residents.
To learn more about Instruxi, visit their website, X, Discord, and GitHub.