In an interview with CNBC, Sergey Nazarov, co-founder of Chainlink, highlighted a financial future where the worlds of blockchain and traditional finance go hand in hand. The businessman proposes a new financial era, marked by the arrival of Bitcoin ETFs, which are seen as a catalyst for greater institutional integration in the cryptocurrency market.
He says the launch of ETFs, backed by financial giants like BlackRock, signals a significant shift in the market. Nazarov believes that these ETFs will facilitate the mass entry of institutions into the Bitcoin market and also drive the adoption of more blockchain-based products and services.
“These ETFs, given the user base of the entities that create them, will have a substantial impact on our industry”Nazarov emphasized.
For Nazarov, the transformative potential of blockchain technology is enormous, especially in the traditional financial sector (TradFi). He sees traditional capital markets as future key customers and buyers in the cryptocurrency space.
“Blockchain technology seeks to improve transactions, make them more transparent, less risky and more efficient”he explained, highlighting the synergy between the principles of blockchain and those of the banking and asset management industries.
Nazarov also expects that the introduction of Bitcoin ETFs is just the beginning. He foresees the emergence of more advanced financial products and the creation of their own DeFi protocols by major financial players, which will integrate with existing protocols on public networks.
This deep integration, he says, will not only strengthen the DeFi ecosystem but also transform traditional financial markets.
A crucial aspect highlighted by Nazarov is the need for a robust infrastructure that enables the interaction between Web3 protocols and traditional capital markets.
“Our role is to build the infrastructure necessary for these seamless interactions”he stated, pointing out Chainlink’s crucial role in this emerging scenario.
Nazarov’s insights offer a promising vision of a financial future where blockchain and traditional finance coexist and actively collaborate.
This emerging partnership is poised to revolutionize the DeFi sector and traditional finance, promising an era of innovation and financial inclusion.
Nazarov’s observations reflect a growing trend of fusion between emerging technologies and established financial systems, signaling an exciting horizon for investors and market participants.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
