PANews reported on November 17 that according to Cointelegraph, Chainlink has launched the "Chainlink Runtime Environment" standard framework to connect traditional financial architectures, payment systems, and traditional institutions with blockchain protocols and smart contracts within a single unified ecosystem.
According to Chainlink, the unified Chainlink Runtime Environment will include the runtime framework previously established by the Common Business Oriented Language (COBOL) standard. COBOL, created in 1959, drove the emergence of electronic banking and automated teller machines (ATMs). The Chainlink Runtime Environment will also replace the Java Runtime Environment (JRE) architecture first developed in the 1990s, which made online banking possible and has gradually dominated online banking applications. The ultimate goal of the unified architecture is to eliminate the complexity of handling thousands of unique financial systems to provide a simplified, efficient user experience.
