Sergey Nazarov, co-founder of Chainlink, explained in his speech at the 2024 Eth CC Conference the global financial market that Tokenized RWA (tokenized real-world assets) can drive. He also introduced the role of Chainlink’s oracle in this trend. important role.
According to on-chain data, Tokenized Real World Assets on the public chain have reached US$170 billion, surpassing decentralized finance (DeFi) by US$90 billion. Chainlink is the first ecosystem that simultaneously cooperates with traditional financial institutions and focuses on cross-chain development and management of blockchain systems. The founder ambitiously predicts that in the future, all traditional assets will be tokenized and merged into traditional institutions.
Chainlink allows users to avoid apps whose authenticity cannot be verified
Sergey Nazarov explains how Chainlink oracles operate to protect institutions and investors from being deceived by false data from applications, and to conduct risk assessments for institutions and investors at the same time. Chainlink Oracle Network can analyze whether the data in the application is real and valid data to avoid FTX bankruptcy or flash loan attacks. Integrate and analyze Proof of Reserve, Market Prices, Reference Data, Identity Data, New Asset Value, and Risk Rating through the Chainlink ecosystem , and other reference data (Any / All Other Data) and other seven major data are entered into the oracle machine and then synchronized to the database to obtain various analysis data indicators for institutional reference.
NAV is critical for tokenized funds
Taking Fidelity International Fund as an example, professional investment managers use the net asset value data in the Chainlink ecosystem to evaluate the proportion of assets and liabilities. This can ensure the stability of liquidity and reserve funds in Fidelity Funds. The operation method is to put the unchained NAV data on the chain through the ZKsync smart contract and then record the purchase and redemption records with on-chain certificates, which can protect the safety of customers' assets. In the past, blockchain financial systems were supervised by engineers, but now the system is managed by professional digital asset managers. Organizations hire hundreds of professionals to look after their assets.
DTCC’s smart net asset value contract combination
Chainlink cooperates with DTCC trust institutions to help customers accelerate settlement and control the life cycle of each fund, ensuring that customers' risks are reduced. Through Chainlink's Smart NAV contract, each stakeholder's funds and assets are linked to a smart contract without any restrictions on currency or chain type.
ANZ & CCIP: Cross-currency transactions and cross-chain settlement processing of real-world assets
By tokenizing real-world assets, handling multiple cross-chains and multiple currencies, the data of buyers and sellers is compiled by the Chainlink database. There are three ways to enter the system for financial transaction processing: Programmable Token Transfer, Automatically Trigger Exchange, and No chain integration by user.
CCIP: Using existing trading standards to connect capital markets
Chainlink's CCIP aggregator can be used as an application by the development team of traditional financial institutions. Each transaction is quickly encrypted and transmitted through the interaction between CCIP routers and routers, upgrading SWIFT telegram transmission to connect global capital markets.
The ultimate goal of Chainlink is to establish a set of standards to integrate all real-world data and encrypt and audit it through on-chain contracts, generate nodes for data through multi-party verification, and provide blocks for the upcoming new world where everything can be tokenized. Chain technology application solutions.
Nazarov is optimistic about the prospects of Tokenized RWA, believing that the future market value will surpass the native cryptocurrency of the blockchain.
This article Chainlink co-founder: RWA is more valuable than native cryptocurrencies first appeared on Chain News ABMedia.
