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Chainlink Labs’ Kemal El Moujahid Says CCIP Unlocks A New Chapter In Web3

Last week during EthCC, Chainlink Labs Chief Product Officer Kemal El Moujahid took the stage to announce the launch of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) on the Ethereum, Optimism, Polygon, and Avalanche blockchains. General developer access on multiple testnets followed a few days later.

During his speech, El Moujahid distilled key points from his comprehensive blog post on the spectrum of use cases and advantages CCIP unlocks. In an increasingly multi-chain world, he said CCIP will usher web3 into the future by facilitating cross-chain liquidity, enabling the tokenization of real-world assets, and empowering developers to innovate new types of cross-chain smart contracts.

He views CCIP as a landmark launch because it creates an industry-wide standard. “It’s like a language,” he said, reemphasizing the concept that CCIP is to web3 what TCP/IP is to the internet.

As a global blockchain interoperability standard, CCIP needs to be secure, flexible, and widely adopted. “The standard is only as valuable as the community that uses it,” El Moujahid explained. “As it turns out, Chainlink, thanks to our users and our partners, has created the industry-defining standard for data in web3 and has built an incredible community.”

Chainlink is a complete web3 services platform that has already enabled more than $8 trillion in transaction value and delivered over nine billion data points on-chain. With a vast ecosystem of nearly two thousand web3 projects integrating its services, Chainlink is also collaborating with Swift and more than a dozen top financial institutions to develop how banks transact with blockchains through CCIP.

El Moujahid underscored Chainlink’s unique opportunity to transform the world’s financial system into a global internet of contracts.    

“This is really the moment that I think we unlock web3 interoperability,” he said. “We want to unlock all of you in the whole ecosystem with this launch. And I know it took time to build, but we wanted to build it right, and we wanted to build it with you. This is going to be a whole new chapter in web3.”

Watch Kemal El Moujahid’s full speech at EthCC. 

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