"Chainlink Founder Sergey Nazarov Explains Why the 'Slowly, Then All at Once' Phase Has Arrived"

"Sergey Nazarov, founder of Chainlink, the world's 12th largest market capitalization and $11.2 billion virtual currency"

Slowly, then all at once.

Now it has passed the 'slowly' stage and is entering the 'at a moment' stage.

This phrase is said by the main character confessing his love in the highly popular novel "The Fault Is in Our Stars" in the United States.

Just as falling in love, the development of the blockchain industry was slowly building its foundation, and now it is time for everyone to fall in love in a moment.

Sergey Nazarov, founder of Chainlink, the world’s 12th largest market capitalization and $11.2 billion virtual currency, said in an interview with Maeil Economy on the 12th, "We have seen many countries, governments, and institutions not fulfill their promises to the people or customers, which is the basis for my interest in decentralized networks.

Chainlink is the only virtual asset project invited by the White House along with Ripple (XRP).

Chainlink is a project that seeks the accuracy of real-world data registered on the blockchain.

Blockchain is a network created to create trust without trusting anyone. Although there is completeness within the blockchain, vulnerabilities arise when governments outside the blockchain are entered inside.

For example, if data called Seoul Weather is posted on the blockchain today, and it is a system in which someone centralized enters data unilaterally, it is not a blockchain.

However, anyone can register data as a decentralized network. Therefore, there is a high possibility that the data is a lie.

Chainlink overcomes these limitations of blockchain and focuses on entering accurate data. It is a way to make them reach an agreement over several decentralized verifiers who check data values in the real world.

"Chainlink is a kind of Truth Machine," Nazarov said. "It requires a network of chainlinks in all situations where truth is needed, such as payment and identification."

Chainlink is the most notable project in the wave of institutionalization.

In order to be combined with finance, the balance in the actual bank, the identity of a specific person, and the information on ownership of real estate must be reliable.

This is because the importance of the infrastructure that Chainlink has been building for years has emerged.

"In the past, I was mainly asked by financial institutions to explain why I should trust the blockchain," Nazarov said. "Recently, we have to participate in tokenizing assets, but we are asked what to do."

In fact, the virtual asset market has been rapidly combining with institutional finance led by the U.S. since U.S. President Donald Trump took office.

Leading financial institutions are entering the market, led by BlackRock.

After the launch of the Bitcoin Spot Exchange Traded Fund (ETF), $41.1 billion (57.54 trillion won) was net inflow.

Trump is encouraging stablecoins with one coin issued as collateral for $1 to solve the U.S. government bond problem and strengthen dollar hegemony.

"The U.S. is very interested in blockchain to maintain its leadership in the global financial system," Nazarov said. "We know that the next version of the global financial system is in a blockchain form."

He also said, "From the standpoint of U.S. politics, many Americans already have virtual assets, so it is enough to affect the election," adding, "As the blockchain of finance and the phenomenon of more voters holding virtual assets accelerates, the interest in the U.S. will inevitably increase."

Chainlink is a project that debuted in 2017. It has been working on development for a long time. In the process, many investors have also been reprimanded for failing to create practical usefulness.

Nazarov pointed out, "In advanced countries, the focus has been on speculation through virtual assets, so we have not seen the usefulness of blockchain."

As an example of 'slowly', he explained, "In emerging markets, we have achieved the establishment of community-oriented open financial services such as △ providing financial opportunities in emerging markets where △ banks are absent."

He also said, "In the emerging market, we have created financial services that can store large values of a certain size or larger, starting with Bitcoin.

As tokenized gold, legal currency, stocks, commodities, and securities are expected to grow to close to $10 trillion to $20 trillion, the time for 'at a moment' has come even in developed countries."

Decentralized blockchain, and Oracle, which provides real-world data in a reliable direction to it, is all about trust.

Nazarov said, "We have seen many countries, governments, and institutions not fulfill their promises to the people or customers," about the background of his interest in decentralized networks.

"Blockchain is rather attractive in terms of fairness because it is based on not trusting it."

In particular, he said, "We have seen that the legal system we believe in does not solve these problems, and we