With the crypto space looking for the next narrative to power it higher, Sergey Nazarov, the co-founder of blockchain oracle platform Chainlink, shared some of his ideas on what might be next for crypto.
In an interview with Cointelegraph at the Token2049 event in Dubai, Nazarov shared how the crypto exchange-traded fund (ETF) space could develop and what could spur further mainstream adoption for Web3 and digital assets.
According to Nazarov, with Bitcoin (BTC) ETFs being approved, the crypto space could expect more ETFs of other coins and tokens. The executive highlighted that beyond BTC and Ether (ETH), other tokens have the potential to get approved for their own ETF. Nazarov explained:
“I think what’s next is more ETFs about coins other than Bitcoin and Ethereum. So, I think the ETF dynamic is going to continue during this year and just grow and grow and grow.”
Furthermore, the executive also explained how tokenized real-world assets (RWA) may be generated by Web3 companies and banks in the near future. The executive believes that the Web3 world will further converge with traditional finance through RWA.
“Eventually, I expect the Web3 assets to be bought by the banks and the bank assets to be bought by the Web3 protocols for various reasons why they would want each other’s assets.”
The executive expects these things to happen in three to four years.
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Nazarov also explained that crypto needs to improve its usability to achieve wider mainstream adoption. “I think the usability of crypto still has a long way to go,” he said.
The executive added that user experience is “nowhere near what it needs to be” and that there’s still a lot of work to be done in that aspect.
The Chainlink co-founder also shared four main pillars that need to be addressed to spur further adoption into the mainstream. He said:
“I would say the usability, the scalability, the connectivity and the privacy are the four main pillars of what I look at the crypto industry when I think about how it is developing.”
Nazarov explained that the space is moving closer to these goals and will “keep pushing the limits on what’s possible.”
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