Cryptocurrencies are where the blockchain industry is today, “but tokenization is where it’s going next,” Chainlink’s co-founder Sergev Nazarov told Cointelegraph.
With Paul Atkins as US Securities and Exchange Commission chairman, the path “towards the tokenization of the financial system” is now clear, according to Sergey Nazarov, co-founder of Chainlink Labs.
Speaking to Cointelegraph, Nazarov said it won’t be easy because it comes with a slew of separate challenges with regard to tokenizing data, cross-chain connectivity, compliance and many other areas. But if and when it happens, the consequences could be huge.
Consider only that the market capitalization of all the cryptocurrencies in the world is now about $4 trillion. If traditional financial assets were tokenized and brought onchain, that could boost market cap tenfold or more, he said.
