Chainlink CEO Emphasizes Impact of On-Chain Speed on U.S. Global Standing
Prefer us on GoogleOn August 21, Sergey Nazarov, co-founder and CEO of Chainlink, stated at the inaugural meeting of the U.S. CFTC Innovation Advisory Committee that the efficient collaboration between the CFTC and SEC enhances the reputation and trust of the U.S. financial markets. This cooperation helps to form a unified regulatory vision and avoids regulatory fragmentation that hinders innovation. He pointed out that regulatory fragmentation incurs significant costs, as Chainlink provides data and cross-chain infrastructure for thousands of applications, supporting most of the DeFi ecosystem. Over the past seven years, hundreds of developers have left the U.S. due to uncertainty, failing to build high-quality applications in the country, resulting in substantial losses. He emphasized that tokenization of equity will unlock a vast amount of on-chain value, as the current U.S. stock market accounts for 60% of the global equity market value and flow. If the global financial system accelerates its transition to on-chain, the U.S. must advance at an equal or faster pace to maintain its leading position; otherwise, innovation and market advantages may be lost.
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