Razor Network provides decentralized and secure oracle services to blockchain applications. A range of smart contracts today require external data feeds to trigger their execution. However, data from the external world isn’t readily available inside the blockchain. This gap is bridged by oracles, which connect the blockchain realm and the real world by providing secure and verified external data streams to DApps.
What sets Razor apart from other players is that Razor implements a completely decentralized infrastructure, making the oracle network superior to all conventional centralized solutions. Moreover, Razor’s solution is blockchain agnostic and offers maximum game-theoretical security, allowing developers to use the oracle irrespective of their chain of choice.
Through this partnership with Ambee, the Razor Oracle Network will provide secure and verified environmental intelligence data from Ambee’s APIs to blockchain applications and users.
Environmental intelligence is the combination of environmental and sustainability research, driven by real-time data for parameters. In a world where real-world information is being considered an invaluable asset for framing policies and making decisions, environmental data goes a long way in aiding organizations (both government and private) that are working to improve our living conditions.
Ambee combines on-ground sensing with satellite imagery to measure, process, and analyze data on environmental factors like air quality, soil, micro-weather, pollen, and more. Ambee’s APIs make hyperlocal environmental data easily accessible to developers, technologists, health workers, and researchers. Using Ambee’s technology, governments and private companies are making informed decisions to improve their service quality.
Blockchain technology can be used to further substantiate the value proposition of this Data by providing a verifiable record of who exchanges what information with whom and who has what Data at a given time. Blockchain can be used to reinforce entitlements to use a natural resource, substantiate claims of reduced environmental impact and incentivize environmentally sustainable actions.
For example, weather and soil data can be extremely useful in forecasting yield or measuring risk for large agriculture companies. The global Blockchain in Agriculture Market is forecasted to grow at a rate of 45.13%, from USD 57.4 million in 2019 to USD 518.7 million in 2027. Blockchain technology is transforming the agriculture and food segments by boosting the decision-making abilities of associations.
Razor will accelerate the use of blockchain-based environmental intelligence by providing this Data to smart contracts using Razor’s oracle solution. Razor has already integrated some of the leading blockchain platforms, such as Matic Network, SKALE, and Conflux. The partnership with Ambee will enable developers on these platforms to use Ambee’s data and develop a range of applications to monitor environmental factors and make informed decisions.
Hrishikesh Huilgolkar, the CEO, Razor Oracle Network, said, “Razor’s integration with Ambee API will be a foundation to help blockchain developers access secure and verified environmental intelligence data. This will address the problems of data reliability in pollution monitoring. It will help developers use this data to create applications that can be used by significant Industries, Government Agencies, and Healthcare companies worldwide.”
Commenting on the partnership, Madhusudan Anand, CTO and Co-founder at Ambee, said, “One of the ways to address key environmental issues is by bringing in behavioural change among people. We are happy to partner with Razor Network to make our environmental data available on blockchain. It can help in finding solutions for pressing environmental problems. Blockchain developers can now use our hyperlocal real time air quality data for building financial products like crop insurance, risk assessment, ESG and climate-related financial instruments.”
About Razor Network
Razor Network is a completely decentralized Oracle network for Decentralized Finance and other distributed applications and services. Razor avoids any weakness associated with conventional centralized oracle networks and is secured by a highly efficient Proof of Stake network, which punishes misbehaving nodes through a strict Slashing mechanism. Razor has already partnered with some of the leading players of the blockchain industry, including Matic Network, SKALE Network, Persistence, Mantra DAO, and OpenDeFi. The headquarters are located in Singapore.
Ambee is an environmental data provider that combines on-ground sensing with satellite imagery to measure, process, and analyze environmental factors such as air quality, soil, micro-weather, pollen, etc. Ambee’s technology empowers both government agencies and private companies working in the healthcare and environment sectors to make educated decisions about serving their clients in a more streamlined manner.