In a new video, Chainlink co-founder Sergey Nazarov reflected on highlights from the first White House Crypto Summit, where he was among a select group of digital asset industry leaders who met with President Trump, cabinet officials, and lawmakers to advocate for American leadership in the global blockchain economy.
Discussion topics included the recent executive order to establish a strategic Bitcoin reserve as well as the need for stablecoin and market structure legislation.
At the White House, Nazarov underscored a key point from his meeting with Tyler Williams, Counselor to the Secretary of Treasury for Digital Assets, in D.C. last month: the path toward American blockchain leadership is through tokenizing assets onchain.
“My position on how the U.S. financial system should evolve from this point is that firstly it should generate the base, original asset that everyone else packages and repackages,” said Nazarov.
He outlined how Chainlink supports three essential properties of tokenized assets: real-time reserve verification through Proof of Reserve, secure and reliable interoperability through Cross-Chain Interoperability Protocol (CCIP), and automated compliance through Automation.
The goal is for the U.S. to generate the most reliable, highest quality digital assets that can be distributed at low cost throughout the world.
“Then you have the next generation of the U.S. financial system,” he said.
While this work is just getting started, Nazarov emphasized the new administration’s focus on “unwinding” the suppression of the web3 industry.
“Our industry is going to work really hard to take full advantage of that and reach its full potential.”
He highlighted stablecoins, which currently hold approximately 2.5% of U.S. Treasury bills, as a significant priority.
“I think they’re starting to realize that the stablecoin market and the stablecoin technology and the stablecoin use cases are basically U.S. dollar distribution mechanisms,” he said. “It’s very important that stablecoins continue to be backed by the U.S. dollar for the U.S. dollar’s role in the global financial system.”
He believes Chainlink will play a fundamental role in the adoption of stablecoins and tokenized real-world assets, because it provides a set of global standards for managing the risks and complexities of cross-chain transactions while automating compliance.
“We want very reliable, real-time verified assets. We want the cost of a transaction, the cost of compliance to be very low, and we want all of this value to flow freely across borders to create this global financial system that’s more reliable, fair, and verifiable.”
Watch the full video.