Chainlink CEO, Sergey Nazarov, DocuSign Founder, Tom Gosner: Smart Contracts Have a Bright Future
DocuSign is among the companies that crypto start-ups like Chainlink can pick up from given its success over the past decade. The project started as a solution to the much engaging physical signatures needed to approve processes. Tom Gosner, the founder, designed an ecosystem that facilitates digital signatures between multiple entities.
Chainlink, on the other hand, emerged with Internet 3.0 as decentralized platforms take over since the inception of Bitcoin. This blockchain network is designed to enhance trust levels between parties while leveraging blockchain and smart contracts. Sergey, Chainlink’s founder, described the idea as a step towards eliminating default related risk. In addition, the network has features known as oracles that facilitate the integration of other systems apart from blockchain.
Tom Gosner, took an interest in Chainlink and is now an advisor owing to his confidence in the fundamental value of smart contracts in businesses. Furthermore, Chainlink’s approach aims at making smart contracts universally available through APIs. This is one of the factors that makes the blockchain network by Chainlink stand out amongst peer competitors in the smart contracts space.
Smart contracts have also proven to be reliable and efficient besides eliminating the costs associated with oversight of contracts performance. Tom noted that many entities have to source for extra resources for contracts follow-ups while there is no assurance of best delivery by both parties. In his opinion, the autonomous nature of smart contracts will solve most of these trust inefficiencies that exist in most ecosystems throughout the world.
Sergey touched on the market adoption of Chainlink’s smart contract products. The CEO said that he is hopeful that pioneer adopters of their tech will be digital based businesses like DocuSign. This is because they can easily leverage smart contracts for their operations ranging from execution of e-signatures to compliance overview.
However, the Chainlink CEO added that the most likely early adoptions would be from the derivatives and insurance market players. This is because both operate in digital-driven environments that can easily leverage smart contracts to increase trust hence better market efficiency and liquidity. Both Sergey and Tom are optimistic that smart contracts will live up to their potential and eventually be integrated into the world’s business platforms.
According to the word in the crypto and financial services world, a good number of companies are open to smart contracts for fundamental value increase in their businesses. This simply shows that the future of smart contracts and that of its mother companies like Chainlink is quite bullish!