Sergey Nazarov, the co-founder of Chainlink, thinks the next billion people to jump on the crypto train will be coming from traditional finance (TradFi) institutions. He’s talking about big banks and asset managers, the kind of places where people keep their life savings.
TradFi on the Blockchain
Nazarov believes these institutions will be the gateway for millions of people to start using crypto. He thinks that even though these users might not realize they’re using blockchain technology, they’ll be using it nonetheless.
Two Sides of the Coin
He sees two main groups of crypto users emerging:
- Retail Users: These are the people who are already familiar with crypto and are using decentralized finance (DeFi) platforms and public blockchains.
- TradFi Users: These are the people who are new to crypto but are being introduced to it through their traditional financial institutions.
Nazarov believes that both groups will play a big role in the future of crypto, but he thinks that the TradFi users will bring in more money, even if there are fewer of them.
The Future of Crypto
Overall, Nazarov is optimistic about the future of crypto. He believes that the next billion users will come from a combination of retail and TradFi users, and that this will lead to a significant increase in the adoption of crypto.
