Chainlink Creator Sergey Nazarov Says Value From TradFi Can Now Flow Into Public Blockchain Industry - The Daily Hodl

The Daily Hodl
The Daily Hodl

19 Sep 2023 7:55 PM

Sergey Nazarov, creator of Chainlink (LINK), says recent experiments have proved that banks and traditional financial institutions can now connect to hundreds of different blockchains easily. ...

  • Sergey Nazarov, creator of Chainlink (LINK), discusses recent experiments that demonstrate how banks and traditional financial institutions can easily connect to multiple blockchains.
  • SWIFT, along with banking giants such as Citi, BNY Mellon, and BNP Paribas, conducted a Chainlink-based experiment to test interoperability measures with over a dozen institutions.
  • The tests resulted in three main achievements:
  • 1. Banks can use existing infrastructure like SWIFT and SWIFT messages to connect to multiple chains efficiently.
  • 2. Multiple chains, both public and private, can be connected reliably for banks to transact with each other.
  • 3. Private chains can effectively transact with public chains, allowing value from the private bank industry to flow into the public blockchain industry.

The article highlights the positive impact of recent experiments, showing how banks can easily connect to multiple blockchains using existing infrastructure and enabling value transfer between private and public chains.

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You May Ask

What recent experiments have demonstrated the ability of banks to connect to multiple blockchains?Which institutions participated in the Chainlink-based experiment conducted by SWIFT?What are the three main achievements resulting from the experiments?How does Chainlink enable banks to integrate their existing infrastructure with the crypto space?Why is it important for banks to connect to blockchains using their existing infrastructure?

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