“Now We’re Cooking with Gas”: Chainlink Founder on Institutional On-Chain Adoption

• Chainlink co-founder has lauded the idea that Donald Trump could issue an executive order to elevate crypto as a policy priority.
• Meanwhile, he suggests the creation of a development environment to handle all complexities while rebuilding existing financial products.

Bloomberg recently reported that US president-elect Donald Trump is planning to designate crypto as a national priority by releasing an executive order to that effect. Fascinatingly, this report has generated reactions from key industry players. One of them is Chainlink co-founder Sergey Nazarov.

I think the technical term to describe this situation is “now we’re cooking with gas” I wonder what happens when the world’s largest financial institutions decide to go on-chain because being on-chain becomes a “national priority”.
Seems likely they will need a secure and… https://t.co/X7Kpiyam0k— Sergey Nazarov (@SergeyNazarov) January 16, 2025

Commenting on this, Nazarov highlighted that this is a complete shift to what seems to be the right direction, claiming the authorities are now “cooking with gas.” According to him, making crypto an important part of the US financial system “may require a secure and reliable way to utilize various kinds of data on-chain to build their financial products”.

Nazarov’s Suggestion of an Effective Crypto System in the US

Shedding more light on this, the Chainlink co-founder pointed out the need for an efficient and compliant way to interconnect all their chains.

I can also see them needing a reliable way to interconnect all their chains to transact in a secure, compliant and efficient manner accepted by regulators. Something like what TCP/IP does for the internet, but built to handle cross-chain transactions and able to work for institutional systems/use cases.

Meanwhile, Nazarov admitted the possible complexities that may arise. In this case, he suggested that the US create a simple development environment to effectively manage this. Additionally, he expects something like a runtime environment for a seamless rebuild of all existing financial products as well as transactional flows on-chain.

If that development environment was already integrated with their existing standards like Swift and their existing CSD like DTCC, that would make it a lot simpler for them. If only there was a single platform where they could get all of these key building blocks to work together securely.

Joining the discussion, community liaison at Chainlink Zach Rynes also suggested the introduction of a universal gas token. According to him, this would convert revenues from institutions through payment abstraction mechanisms.

Trump’s belief in Chainlink appears evident in a recent partnership between his family crypto project, World Liberty Financial (WLF), and the standard for on-chain data and cross-chain interoperability. According to the official release, this collaboration was to enhance security, reliability, and interoperability for the WLF protocol. Additionally, WLF has spent $1 million to acquire 41,335 LINK, CNF reported.

More About Trump’s Possible Executive Order

Analyzing the Bloomberg report published recently, we found that Trump could issue a directive to order all government agencies to subject existing digital asset policies to a review. This would also demand that all litigations involving cryptos are paused while US Banks hold the asset class, as earlier highlighted in our coverage. Amidst the backdrop of this, the US is also considering establishing a Bitcoin strategic reserve, per a CNF report.

Agreeing with the position of the Chainlink co-founder, the vice president for US policy at Coinbase Global Inc., Kara Calvert believes that the Trump administration would lead the US into a significant crypto transformation.

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