Chainlink's Corporate Actions Initiative Cuts Costs by Near-100%

Chainlink has announced the results of Phase 2 of its corporate actions initiative, which aimed to tackle the $58 billion annual cost associated with processing corporate events. A coalition of 24 major financial institutions, including Swift, UBS, and Euroclear, achieved near-100% consensus on corporate actions data processed through a combination of AI models and blockchain infrastructure.

Corporate actions refer to events such as dividends, mergers, and stock splits that companies announce to their shareholders. However, processing this information manually can be costly, with each event generating costs up to $34 million and involving over 110,000 interactions among firms.

To address this issue, Chainlink combined large language models from OpenAI and Google with its oracle infrastructure to create a multi-step verification pipeline. This system runs corporate actions data through multiple models and checks their answers against each other, achieving near-100% data consensus across AI models.