During Hong Kong Fintech Week we interviewed the co-founder of Chainlink, Sergei Nazarov, with whom we obviously talked about blockchain, but also about AI.
Chainlink’s new tools
The Chainlink protocol launched the Blockchain Privacy Manager a few weeks ago, a tool used to make transactions even more private.
Along with this tool, Chainlink also recently announced that the CCIP will perform cross-chain transactions to protect the privacy of sender and recipient thanks to the fact that it can be combined with the aforementioned blockchain tool privacy manager.
CCIP stands for Chainlink Crosschain Interoperability Protocol and is the only protocol that connects Web3’s public blockchains with the private DLT (distributed ledger technology) of banks.
Interview with Sergey Nazarov, co-founder of Chainlink, during Hong Kong Fintech Week. Credit: The Cryptonomist
Chainlink and Swift: a close relationship
Chainlink has also entered into a partnership with Swift, and a few days ago the integration of the traditional payment system with blockchain technology entered a production-ready stage.
Chainlink has been working with SWIFT for several years to create a connection between traditional SWIFT messaging and blockchains.
Nazarov explained that the system has moved from concept to pre-production, allowing financial institutions to begin testing in the real world, and emphasized that the integration is now ready for use by institutional entities.
Chainlink and the future of DeFi
With all these new tools, the company wants to build a kind of ‘internet of contracts’ to help DeFi and traditional financial institutions unite in one world and become increasingly faster.
Among the many innovations at Chainlink there is also Deco, a system to have on-chain data while keeping users anonymous thanks to zero-knowledge proof.
In reality, Chainlink has been working on this system for years, but it will soon be available to the public in a test environment.
The relationship between blockchain and AI
During the press conference, co-founder Sergey Nazarov explained that the company uses three artificial intelligence (AI) models to generate transactions on blockchain and compare the results: if the latter are the same, consensus is reached and the data goes on the blockchain . .
To do this, Chainlink is working with Swiss bank UBS, Swift and other companies.
This system solves the so-called unstructured data problem, meaning that the lack of standardized formatting makes indexing, archiving, retrieving, and managing data a bull-and-bear task.
