Chainlink (LINK) creator Sergey Nazarov says that a financial cataclysm could trigger a rush into digital assets and blockchain ecosystems.
In a new interview with Ash Bennington on Real Vision, Nazarov outlines what he calls a “global correction back to reality” where blockchain technology is integrated with the financial system and other industries to bring about a more trustworthy, verifiable economy.
[adinserter block="1"]Before such a world develops, Nazarov says that an economic crisis in some form could be the precursor.
“I think we are moving towards some class of economic crisis in various economies because of really really weird – but perhaps necessary I can’t tell – economic decisions by various large actors, basically. And I think there will be a reckoning for all of that value and all of that. And I do believe that blockchain technology will be gradually adopted for its massive benefits…
And it’ll do well in a market where everyone wants to interact with more assets. But I also believe that if there is an economic crisis, blockchains will be the solution to creating a more transparent, more reliable world that doesn’t depend on brands. What it depends on is cryptographic proof, such that your ownership is not guaranteed through a password through a database, but through an application that controls your private key on your phone.
Or your reliance on an insurance company will not be based on the reliance that they have the logo above Grand Central. It will not be that they have the biggest building with the best logo, it will be based on cryptographically verifiable mathematical truth that they can never deviate from.”
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Mia Stendal/Sensvector
