Chainlink (LINK) creator Sergey Nazarov says the blockchain industry could grow by hundreds of billions of dollars thanks to a master catalyst.
In a new interview at the Hong Kong Fintech Week 2024 conference, Nazarov claims that Chainlink has developed a way to connect payments giant SWIFT to blockchain technology, opening the door to mass adoption of traditional finance (TradFi).
“So the next logical step is how to ensure that existing standards such as SWIFT are used for interactions with a blockchain. And that’s the body of work that we demonstrated in its pre-production form, where we showed how it would actually work in production. And how it would eventually be used in actual trials and how it would be used by these big banks and institutions. So that was a really big event and a milestone for us because the next step beyond that will be live testing, usage and actual adoption of this service. This is what we hope for and what we insist on at this stage.
Nazarov claims that Chainlink’s breakthrough could lead to a massive expansion of the blockchain market.
“If you can actually get even a very small percentage of those 11,000 banks and institutions to start interacting with blockchains in an efficient and secure way, the market size of the blockchain industry, that Whether it’s a public or private chain, whether it’s an RWA (real-world asset) or tokenized fund or stablecoin, the market size really explodes from there. sort of from a few billions (of dollars) to tens of billions and that’s really the path to hundreds of billions (of dollars).
Chainlink is trading at $11.79 at the time of writing, up 5.6% in the last 24 hours.
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