Creating Definitive Truth: Sergey Nazarov Keynote at #SmartCon

Chainlink-powered decentralized oracles provide smart contracts with definitive truth about the validity of real world data. In this Keynote, Sergey Nazarov explains how Chainlink is using its secure and reliable oracles to expand the addressable market of smart contract applications into the trillions, thanks to opening up blockchain applications in DeFi, CeFi, Fintech, Web 2.0, and enterprise systems. He also discusses Chainlink’s new DECO acquisition and how it opens up access to web data for smart contracts while preserving data security and confidentiality.

Chainlink generates definitive truth about real-world data, made accessible to blockchain-secured smart contracts

DeFi evolves in step with oracles—As more off-chain data is provided to smart contracts, DeFi grows in its ability to produce value

Smart contracts reduce counterparty risk, an enterprise business requirement

DECO is compatible with all the world’s data currently transferred over HTTPS/TLS format and can prove data came from a specific TLS session at a specific time

Through DECO, Chainlink will be able to preserve enterprise data confidentiality when used on public blockchains, allowing them to use blockchains in a way that was not previously achievable
New possibilities open up for decentralized ID, supply chain data, proprietary financial data, and more

SmartCon #0 ran August 28-29, 2020.

0:34 – What is the definitive truth
2:39 – How Bitcoin is a definitive truth about Bitcoin ownership
4:09 – How Ethereum is a definitive truth about Smart Contract State
5:15 – How Chainlink is a definitive truth about Real-World Data/Events
6:19 – The Oracle Problem for Smart Contracts and decentralized oracle use in the growth of DeFi
10:59 – How definitive truth will permeate all financial markets
14:26 – The remaining market for smart contracts is trillions of dollars
16:40 – Brand based contractual guarantees vs math-based contractual guarantees
24:00 Forward-looking Web 2.0 firms are already converting and looking to Web 3.0
24:48 – Announcing the Acquisition of DECO and Chainlink Labs
27:30 – Providing data source origin with confidentiality through DECO
29:59 – Use-cases of DECO
37:00 How to enable enterprises to Web 3.0

Chainlink is a decentralized oracle network that enables on-chain smart contracts to securely access off-chain data feeds, web APIs, traditional bank payment data, and more. Chainlink provides highly secure and reliable oracles to large enterprises (Google, Oracle, and SWIFT) and leading smart contract development teams working on Bitcoin, Polkadot/Substrate, Synthetix, Aave, and many others.

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