Crypto CLINK Founder Sergey Nazarov: Bank Ready Connected To Hundreds Of Blockchains Through Chainlink

Chainlink crypto assets. (Photo; Doc. Narametrics)

JAKARTA - Crypto Chainlink (LINK) founder Sergey Nazarov recently revealed recent developments showing that traditional banks and financial institutions can now connect with various blockchains more easily.

In a recent interview with Jill Malandrino, a reporter from Nasdaq, Nazarov discussed the experimental results involving Chainlink. The experiment has been run by SWIFT, along with several major financial institutions such as Citi, BNY Mellon, BNP Paribas, and others.

In June, SWIFT announced the use of Chainlink to test interoperability capabilities with more than a dozen financial institutions. SWIFT notes that these institutions often face different communication problems between blockchains, where each blockchain has its own characteristics and system. This often results in obstacles in operating for these companies.

According to Nazarov, there are three important things that can be learned from the results of this experiment. First, experiments prove that banks can easily connect to hundreds of blockchains by utilizing existing infrastructure, such as SWIFT. This allows banks to efficiently interact with various blockchains," Nazarov said.

Second, the experiment also shows that different types of blockchains, both public and private, can be connected efficiently and reliably in running interbank transactions. Lastly, the experiment proves that private blockchain can effectively interact with public blockchains. This opens up opportunities for the flow of value from private banking industries to the public blockchain industry.

Nazarov stressed the importance for banks to connect with blockchain technology through existing infrastructure. According to him, Chainlink is one of the solutions that allows banks to integrate their systems into crypto environments. This is an important step in allowing traditional financial institutions to participate in the growing blockchain ecosystem.