The Crypto Conversation Smart Contracts - How Sergey Nazarov & Chainlink are solving the oracle problem
Sergey Nazarov is the CEO at Chainlink where he is spear-heading the smart contract oracle revolution. Sergey believes that blockchain technology has the ability to change the way societies distribute wealth, enforce contracts, and share, monetize, and utilize critical information. Relentlessly focused and logical, Sergey is single-minded in his approach to unleashing the true potential of smart contracts.
Key takeaway:
Smart contracts have the potential to change the world by making it possible for anyone to enter into a digital agreement with anyone else. But there's a problem - for the potential of smart contracts to truly be unleashed - they need a reliable way to connect with events in the real world - this is called the 'oracle problem.' An oracle's function is to find and verify real-world occurrences and provide this data to a blockchain based smart contract in a manner that is decentralized and not vulnerable to a single point of failure. This is the solution that Chainlink provides.
Why you should listen:
Sergey says that the blockchain space is in an early form and has a long way to evolve, he is committed to helping this process. He sees smart contracts as an extremely reliable form of automation that has the potential to unlock vast amounts of value across the existing financial system, and also improve emerging markets by enabling individuals to pursue their economic destiny in whatever manner they see fit. Finally, in the Crypto Conversation hot take section, Sergey explains his passion for science fiction and the Star Trek and Expanse universes.
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