In the rapidly evolving world of cryptocurrencies, Chainlink emerges as a bridge between reality and potential, bringing transparency and reliability to the blockchain industry. Thus Chainlink could be one of the most promising projects in the current crypto landscape.
“You have this public blockchain and internet of contracts primarily defined by DeFi, and you have this bank-chain world, which I think will be primarily defined by real-world asset tokens. The next stage will be getting these two worlds to overlap,” -Nazarov.
Chainlink recently introduced a cross-chain interaction protocol, aiming to simplify the process of transferring money between blockchains.
However, Chainlink’s co-founder has ambitions that extend beyond just connecting public blockchains. Sergey Nazarov envisions banks and financial institutions launching their own blockchains, which might be regulated or licensed in some manner. Eventually, the legal landscape will permit them to interface with public blockchains like Ethereum.
“And when that happens, beyond the efficiencies and the gains for each of these groups, then you will see the blockchain industry as a whole, I think grow very, very rapidly by trillions of dollars.” Nazarov in an interview at EthCC.
To determine whether banks should establish their own blockchains, complete with their own stablecoins and DeFi protocols, a pressing question arises: Will these chains operate independently, or will they integrate with the existing spectrum of public blockchains, possibly using technologies like CCIP?
Some expert believe these two realms will ultimately converge, but only once regulations have matured sufficiently.