Chainlink Founder Sergey Nazarov: Economic Crisis Will Encourage Blockchain Adoption And Digital Assets

Sergey Nazarov, founder of Chainlink. (Photo; Doc. Chainlink Journal)

JAKARTA - Blockchain technology and digital assets can be the answer to address the economic crisis that may occur in the future, according to Chainlink (LINK) founder Sergey Nazarov. Chainlink is one of the leading blockchain projects that provides decentralized oracle networks to connect smart contracts with real-world data.

In an exclusive interview with Real Vision, Nazarov explained his vision of "global correction back to reality" where blockchain is an integral part of financial systems and other sectors, creating a more transparent, reliable, and verifiable economy.

Nazarov admits that before the realization of this vision, the world may have to face several forms of economic crisis caused by strange decisions made by major actors in the economic sector.

"I think we are heading towards several economic crises in various regions due to very unusual economic decisions - but it may be necessary, I don't know - taken by various big actors, basically. And I think there will be adjustments for all values and everything. And I believe blockchain technology will be adopted slowly because of its tremendous benefits... Nazarov said.

Furthermore, the founder of crypto LINK emphasized that blockchain technology will be able to function well in the market, especially when everyone interacts with more assets. According to him, this technology that underlies crypto and NFT will help create a better world and not depend on the company.

But I'm also sure that if an economic crisis occurs, blockchain will be a [one] way to create a clearer and more reliable world, which doesn't depend on brands. The basis is cryptographic evidence, so your ownership is not guaranteed via password via database, but through an application that manages your personal keys on mobile phones," Nazarov added, quoted by DailyHodl.

He assessed that the world will no longer depend on leading insurance companies that have the largest building and the best logo. However, it will depend on the data stored in blockchain technology.

The reason is, blockchain offers transparency and decentralization for data storage so that everyone can see it. Nazarov mentions this with the expression mathematic truth that cryptographic verifiable' that actors in the economic field cannot violate.