Leading cross-chain data oracle platform Band Protocol has announced an integration with Google Cloud to provide users with access to accurate and real-time analysis of financial time series data.
Announcing the new collaboration via an official blog post, Band Protocol said the integration would lay the Band Protocol oracle data live on Google Cloud Public Data, enabling timely, reliable, and precise analysis of financial time series data.
1/ 👉 @Google has joined the cohort of leading companies and projects integrating $BAND oracles which are live on @GoogleCloud BigQuery.
The integration and use-case of $BAND enables reliable price discovery mechanisms – crucial to all capital markets.https://t.co/nEqPqgSqQd
— Band Protocol (@BandProtocol) April 15, 2021
According to Band Protocol, Google Cloud Public Data has a tremendous amount of data that can be used for unique analysis, which can be very interesting for financial time series data in real-time in regards to machine learning. The financial time series data will come directly from Band Protocol’s public dataset in Google BigQuery.
Speaking on the integration, Kevin Lu, head of business development at Band Protocol, said it was only the first of many use cases the data platform was exploring to bridge traditional enterprises and blockchain applications.
“Our focus is to continuously and rapidly expand the support of data available on BandChain — pushing the use-cases far beyond just Web 3 alongside many enterprises,” he noted.
Band Protocol Expands Partnership With Injective Protocol
In another development, Band Protocol recently expanded its collaboration with Injective Protocol, allowing both networks to operate validator nodes on each other”s networks.
As a result of the partnership, Band Protocol will utilize the node already set up for Injective and now participate in Equinox Staking.
Reiterating their shared focus for democratizing opportunities within the financial sector, Injective Protocol noted that the partnership between Band and Injective would bridge the gap between blockchains and off-chain data sources.
Expressing his excitement with the partnership, Eric Chen, CEO of Injective, said Band Protocol had been an early supporter of the Injective project, adding that the collaboration will secure a huge oracle and derivatives primitive.
Similarly, Soravis Srinawakoon, co-founder and CEO of Band Protocol, while speaking on the partnership, said both teams, in collaboration with Terra and Mirror Protocol, launched the world’s first decentralized stock futures trading.
“We are proud to become a genesis validator on Injective in the lead up to their Mainnet and vice versa, have their team operate a BandChain node to further both teams’ interests,” he added.
BAND Price
As a result of the integration with Google Cloud, the Band Protocol token (BAND) price rallied by 40% to hit a new all-time high of $22.83.
However, at the time of publication, BAND price has dropped and is now trading at $14.63, with a market cap of $422,689,571 and a 24-hour trading volume of $185,013,629.
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