“Banks and blockchain will merge”

LINK, which has increased by 20% in the last 24 hours and 30% in the last week, continues to attract attention with its launch of the cross-chain interoperability protocol (CCIP). Sergey Nazarov, co-founder of Chainlink, claimed that this protocol could bring trillions of dollars to the crypto space.

Answering The Block’s questions from the US media at the Ethereum Community Conference held in Paris, Nazarov said that if banks start using CCIP in the future, trillions of dollars could come to crypto:

There is the open blockchain, there is DeFi, also known as the internet of contracts. There is also the world of the chain of banks. I think the tokenization of the world’s assets will prevail in this area in the future. The next step will be to connect these two areas. When that happens, the blockchain industry as a whole will grow. Trillions of dollars will flow here. Growth will happen very fast.

As it is known, this protocol, which was launched a few days ago, allows to transfer tokens on different blockchains. CCIP, which has a large share in the rise of LINK, has recently been tried by dozens of financial institutions, as well as Swift, the global interbank messaging network. Stating that crypto adoption will take place in 3 stages, Nazarov noted that the first of these will be to place token storage in a protected system, the second will be to tokenize their assets, and the third will be to start the development of banks on their own registered chains.