Measurable Information Token (MDT) has announced the launch of a blockchain-based oracle service, Measurable Finance (MeFi), which has been designed to connect traditional financial data markets to the decentralized finance (DeFi) sector.

In its main showcase of utility, the project constructed a decentralized awarding (DApp) —accessible on both the Ethereum and testnet blockchains — which enables DeFi participants to admission stock trading data from some of the world's largest financial marketplaces, including the Nasdaq, New York Stock Exchange (NY and Hong Kong Stock Substitution (HKEX).

With the introduction of these services, decentralized data sharing network Measurable aims to advance the DeFi manufacture into the mainstream, unifying the carve up between the real-life and on-chain worlds.

Oracles are third-political party external information sources, such as global temperature levels or sports scores, that exist outside of the blockchain sphere simply can be used to verify smart contracts. They can exist likened to application programming interfaces that enable interoperable communication with two software entities.

Projects within the blockchain space that utilize this technology include Chainlink and Ring Protocol, amongst others.

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Heatherm Huang, co-founder of Measurable Information Token, spoke of data as a superpower in the capital markets, continuing on to say:

"If DeFi is to go mainstream, DeFi innovations and DApps have to connect with the external context. MeFi serves as the 'Bloomberg on blockchain' — its secure connections between blockchain smart contracts and majuscule markets assistance developers access reliable external financial data on-chain."

In add-on to this integration, the project has too expressed ambitions to aggrandize the scope of financial data to include derivatives and exchange-traded funds through the adoption of its native token MDT.