On March 7, Sergei Nazarov, co-founder of Chainlink, addressed the White House “Virtual Asset Summit.” He led a discussion on bridging virtual assets with institutional finance. Nazarov, speaking on behalf of Chainlink, pointed to the exponential development of the Real World Asset (RWA) market, which currently stands at $22.6 billion. He highlighted the increasing demand from institutions for blockchain technology. Nazarov underscored how much the virtual asset world has changed since the days of Donald Trump’s presidency. He noted that tokenized assets have the potential to reach into the trillions.

Chainlink, a decentralized oracle network founded in 2017, is aimed at making sure off-chain real-world data is correct before it’s stored on the blockchain. Nazarov's participation in the White House summit underscores the growing recognition of blockchain's role in the future of finance.

Nazarov observed an unprecedented and quick integration of the virtual asset marketplace with traditional financial infrastructures. This transformation is deeply connected to U.S. leadership. He estimated tremendous potential in tokenized assets such as gold, legal tender, stocks, commodities, and securities. He predicts the potential market size could be $10 trillion to $20 trillion.

"Now it has passed the 'slowly' stage and is entering the 'at a moment' stage." - Sergei Nazarov

Nazarov said that most remarkably, there’s been a change in institutional attitudes toward blockchain. Now, institutions are ready to test the waters of the market and begin strategizing on how to approach engagement with tokenized assets.

Donald Trump's support for stablecoins, particularly those backed by $1 reserves, aims to address U.S. government bond challenges and reinforce the dollar's dominance. Nazarov was similarly enthusiastic about the advancement of decentralized networks.

The limitations of traditional legal systems to protect trust and reliability, which were discussed by him pervasively, is where the fun starts.

"Blockchain is rather attractive in terms of fairness because it is based on not trusting it." - Sergei Nazarov

Nazarov made it clear that the U.S. must be strategic with blockchain technology’s use or risk losing its financial leadership.

"We have seen many countries, governments, and institutions not fulfill their promises to the people or customers," - Sergei Nazarov

"We have seen that the legal system we believe in does not solve these problems," - Sergei Nazarov

He too shewed up to recognize the increasing power of digital asset owners in US politics.

"The U.S. is very interested in blockchain to maintain its leadership in the global financial system," - Sergei Nazarov

Nazarov explained the shift in tone of the questions coming from lenders.

"From the standpoint of U.S. politics, many Americans already have virtual assets, so it is enough to affect the election," - Sergei Nazarov

"As the blockchain of finance and the phenomenon of more voters holding virtual assets accelerates, the interest in the U.S. will inevitably increase." - Sergei Nazarov

He highlighted the transformative potential of blockchain to help build more trusted, fair, and inclusive systems.

"In the past, I was mainly asked by financial institutions to explain why I should trust the blockchain," - Sergei Nazarov

"Recently, we have to participate in tokenizing assets, but we are asked what to do." - Sergei Nazarov

Nazarov's statements at the White House Crypto Summit highlight Chainlink's crucial role in the expanding RWA market and the broader integration of blockchain technology into mainstream finance.

"It's a very attractive element to be able to systematize fair treatment and interrelationships between people into a very reliable and deterministically guaranteed system," - Sergei Nazarov

Nazarov's statements at the White House Crypto Summit highlight Chainlink's crucial role in the expanding RWA market and the broader integration of blockchain technology into mainstream finance.