Chainlink CEO: U.S. Financial System's On-Chain Speed Will Determine Its Global Standing

BlockBeats News, August 21st, Chainlink co-founder and CEO Sergey Nazarov stated at the inaugural meeting of the U.S. CFTC's Technology Advisory Committee that he appreciates the CFTC and SEC finally starting efficient and constructive collaboration, instead of the previously public conflicts. He believes that this has significantly enhanced the reputation and trust of the U.S. financial market, helping to form a unified regulatory vision and avoid past "16 types, 25 types of conflicting rules" that hindered innovation.

Nazarov pointed out that regulatory fragmentation has come at a significant cost. Chainlink provides data, cross-chain, and other infrastructure for thousands of applications, underpinning much of the DeFi ecosystem. Over the past seven years, he has personally witnessed hundreds of developers leaving the U.S. due to uncertainty, choosing not to build high-quality applications in the U.S. or serve U.S. consumers. These innovators are no longer present at the meeting, representing a significant loss to the U.S. financial system and consumers.

He emphasized that the next clear trend is that tokenizing equity will unlock significant on-chain value. The U.S. stock market currently represents around 60% of the global equity market value and volume. If the global financial system accelerates its move to the blockchain, the U.S. must advance on-chain at an equal or even faster pace to maintain this dominant position. Otherwise, innovation and market advantage may slip away.