SmartCon Insights | Chainlink Co-founder: On-chain finance is moving towards mainstream, CRE will drive the collaborative development of institutions and Decentralized Finance.

Odaily News Chainlink's annual flagship conference SmartCon opened yesterday in New York, where Chainlink co-founder Sergey Nazarov delivered a keynote speech, stating that the blockchain industry is at a critical moment about to enter mainstream adoption, and the integration of institutional finance and DeFi will become the core driving force for industry growth. Sergey pointed out that Chainlink has been committed to reshaping the trust mechanism of the financial system through encryption guarantees and the “single source of truth” of smart contracts, eliminating human errors and opaque operations. Sergey Nazarov stated that Chainlink's cross-system operating environment platform CRE (Chainlink Runtime Environment) has officially launched, which can help developers integrate multi-chain, multi-Oracle Machine, multi-data sources, and compliance systems into an efficient workflow, thus simplifying the complex on-chain application construction process. The launch of CRE will enable institutions to deploy on-chain applications in compliance with regulatory requirements, achieving compatible transactions with DeFi and providing reliable support for tokenized funds, stablecoin issuance, and cross-chain asset circulation. He also pointed out that the Central Bank of Brazil and the Hong Kong Monetary Authority have used CRE and CCIP for cross-border pilots of CBDCs and electronic bills of lading. Institutions such as S&P Global, FTSE Russell, Tradeweb, and Deutsche Börse Group have put data on-chain to establish new data standards for the industry. Finally, Sergey Nazarov stated that Chainlink will also launch a privacy protection system based on trusted execution environments and zk-SNARKs, allowing smart contracts to maintain privacy while ensuring transparency, enabling developers to efficiently and quickly build high-quality advanced smart contracts and bring them to market, while also meeting the requirements of regulatory agencies, society, and the entire world, thus achieving large-scale adoption globally.