- Chainlink’s Cross Chain Interoperability Protocol (CCIP) has sparked interest, with LINK’s value increasing by 20% in 24 hours and 30% in a week.
- Sergey Nazarov, co-founder of Chainlink, believes that the protocol could bring trillions of dollars into the crypto space.
- Nazarov predicts that the merging of banks and blockchain through the use of CCIP could lead to the tokenization of global assets.
Chainlink’s Cross Chain Interoperability Protocol: A Game Changer?
Chainlink’s recent launch of the Cross Chain Interoperability Protocol (CCIP) has been met with significant interest from the crypto community. This has been reflected in the value of LINK, Chainlink’s native token, which has seen a substantial rise of 20% in the last 24 hours and 30% over the past week.
Banking and Blockchain: A Powerful Combination
Speaking at the Ethereum Community Conference in Paris, Chainlink co-founder Sergey Nazarov suggested that the integration of banking systems with blockchain technology through the use of CCIP could lead to a significant influx of capital into the crypto space. He believes that the tokenization of global assets will dominate the future of the sector, and that connecting these two areas will lead to substantial growth in the blockchain industry as a whole. This could potentially result in trillions of dollars flowing into the sector.
Testing the Waters: Swift and Other Financial Institutions
The CCIP, which was launched just a few days ago, allows for the transfer of tokens across different blockchains. This protocol has been tested by several financial institutions, including Swift, the global interbank messaging network. Nazarov outlined a three-stage process for crypto adoption: the first stage involves establishing a secure system for storing tokens, the second involves the tokenization of assets, and the third involves banks beginning to develop on their own registered chains.
