Chainlink Co-Founder Sergey Nazarov Joins Decentralized Data Marketplace dClimate As a Strategic Advisor
dClimate, the world’s first decentralized network for climate data, today announced that Chainlink Co-Founder Sergey Nazarov has joined its team as a strategic advisor. Nazarov joins the ranks of other project advisors, entrepreneur and investor Mark Cuban and Atlantic Council Distinguished Fellow Ambassador J. Peter Pham. dClimate is the first transparent, decentralized network for climate data, forecasts, and models. It aims not only to make climate information more accessible and reliable, but to incentivize new innovation and research in the climate data ecosystem.
“As someone who believes that hybrid smart contracts powered by weather data will fundamentally change the way businesses, governments, and individuals hedge against weather risk, I’m thrilled to be a strategic advisor to dClimate, who I believe is doing critical work for the future of weather data and weather insurance generally,” said Chainlink Co-Founder Sergey Nazarov. “Through the use of Chainlink decentralized oracle networks, dClimate will play a key role in creating an economy around on-chain weather datasets that spurs smart contract innovation for parametric insurance products and a wide range of sustainability solutions that help users worldwide adapt to emerging climate risks.”
Nazarov is the Co-Founder of Chainlink, the world’s largest decentralized oracle network, which currently secures tens of billions of dollars of smart contract value across numerous leading blockchains. He has been working on smart contracts since 2014. His work with leading financial institutions, data providers, and insurance firms on the creation of hybrid smart contracts gives him a unique perspective on what is required to drive mainstream adoption of blockchain and decentralized oracle network technologies. As an advisor, Nazarov will provide insights on the network’s development in the run-up to its live launch early this fall, as well as integrations with important stakeholders.
“Sergey is a visionary at the forefront of blockchain and oracle network technology who truly understands how smart contracts and immutable data can help businesses and governments better manage growing climate risks,” said Sid Jha, a founding partner of dClimate. “He understands the potential that decentralized finance has to enable broader adoption of innovative climate risk products such as data-driven weather insurance, and we are excited to have him become a strategic advisor to the dClimate team.”
In addition to being an integral component of dClimate’s governance layer, Chainlink powers much of dClimate’s internal infrastructure, with the dClimate marketplace leveraging Chainlink to retrieve climate data and validate it on-chain. Chainlink external adapters are used to connect the data-retrieving decentralized oracle network (DON) to proposed and approved algorithms for determining “skill scores,” which reflect the accuracy and reliability of climate and forecasting data.
The dClimate network previously announced a $3.5 million seed financing round in April led by CoinFund, as well as a strategic investment from entrepreneur Mark Cuban, who is also a member of dClimate’s advisory board. The dClimate data marketplace will launch early this fall, and its REST API and construction app are already available as free resources for data consumers.
dClimate is the world’s first transparent, decentralized marketplace where climate data, forecasts, and models are standardized, monetized, and distributed. The marketplace connects data publishers directly with data consumers, making climate data more accessible and reliable. When data providers share data and forecasts with the market it is automatically scored for reliability, which helps consumers to shop for information. In exchange, dClimate creates a simple, direct-to-consumer distribution mechanism to monetize their work. Visit the dClimate website or read the introductory blog post to learn more.
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
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