Yesterday, Chainlink co-founder Sergey Nazarov joined Bloomberg Crypto hosts Tim Stenovec and Sonali Basak live in New York City to follow up on his experience at the White House Crypto Summit and discuss key steps to American leadership in the global web3 economy.
Nazarov said the President, cabinet officials, and lawmakers who attended the summit made it clear that the new administration is moving fast to gain ground, beginning with an executive order to establish a strategic Bitcoin reserve, with stablecoin and market structure legislation to follow.
“I think the general model of this administration is that if something has a global impact or impact on the U.S. economy, then they want to be in a leadership position,” he said.
“They explained their commitment to make sure that the industry is no longer unfairly depressed or persecuted and allowed to develop properly and allowed to make the U.S. a leader in the web3 economy and the web3 financial system.”
He believes the U.S. has “a very good chance” of positioning itself at the forefront of web3 if it achieves two main objectives: issuing the most abundant and reliable tokenized real-world assets (RWAs) and automating compliance so those assets can be adopted around the world.
As he recently explained on The Wolf Of All Streets podcast, Nazarov thinks the U.S. should strive to have the same majority in tokenized assets as stablecoins, over 90% of which are USD-backed.
“It should continue that tradition of being the most reliable financial system by issuing the best assets possible – the most reliable version of stablecoins, tokenized funds, commodity coins, tokenized real estate,” he told Bloomberg.
“If you have the fundamentally best asset and you’ve lowered the cost of compliance – if you’ve done both of those things – then the U.S. can actually even gain market share in the new global financial system that’s now going to be powered by web3.”
Watch the full segment.