/biz/ - Business & Finance

http://www.fintech.finance/fintech-tv/sibos-2017-sergey-nazarov-smartcontract/

>"Categories of digital agreements that have few participants and already use digital state - things like derivatives. [...] In a period like 5 years you're going to see the high value contracts in spaces like derivatives, spaces like the bond market, all kinds of different securities, even equities, they're going to be the standard. So smart contracts are going to be the standard."

Skip to 6:45 or so. It's worth watching all the way through. Despite the impression you might get from this board, Sergey is not some fat autist selling shitcoins from a toilet. He's the real deal. Derivatives are a QUADRILLION dollar industry and these are exactly the kinds of agreements that will be implemented in smart contracts and so use chainlink.

He also mentions a key theme at the conference as being moving from proof of concept to real world implementation. This fits with their plan for a release in early 2018.

Yes, the lack of communication is frustrating but you've got to see it from their perspective: they have no interest in generating hype among individuals - it's all about institutions. This thing isn't even on Bittrex yet, give it time.

>>4647462
Fucking right he is.

>>4647427
>>4647393
>>4647382
From the same video (2:55):
>"Digital contracts between individuals are kind of limited. The reality is most digital contracts that happen between individuals happen through other services"

What reason would they have for hyping this coin up among individuals? The fact is they've raised the money through the ICO and are now getting on with developing a product for business. They probably expected (unreasonably, given the reaction on this board) that investors understood the project and were in it for at least a year.

Going back to the comment about the theme of going from proof of concept to real world implementation: this could not be more clear. I saw an image posted on here recently (please post it if anyone has it) of the expected timeline of smart contracts. 2018 - 2022 was described as the time period in which they will be implemented, which is in line with Sergey's comment:
>"In a period like 5 years you're going to see the high value contracts in spaces like derivatives..."

It's funny that a common piece of LINK FUD is that it's 'vaporware' - when LINK is one of the few products that actually isn't. Sergey constantly talks about external data because he realises this is the thing that will lead to smart contracts actually being USED.

>"Smart contracts are moving away from proof of concepts and closer to actual implementation. And as that happens, they're going to need high quality triggers and high quality outputs."

It's so clear that they are only really concerned with developing a product that is actually USED. The time scale to mainstream adoption is a couple of years, starting with tests that will begin next year. When people realise this then the hype will grow organically and the snowball effect will be as large as we've seen with XRP, ETH, PIVX (this was hyped on here too), NEO, and other moon missions we missed out on like STRAT. Look at the charts. Pic related is inevitable.

>>4630800
I created that image as a bit of a joke but I now realise that it's actually a pretty accurate picture of the market chainlink is going after.

Obviously, CL won't be worth as much as the derivatives themselves but it's conceivable that the agreements themselves will use CL. Sergey specifically mentions derivatives as one of the first markets that will adopt smart contracts as standard in this video:

http://www.fintech.finance/fintech-tv/sibos-2017-sergey-nazarov-smartcontract/

>"Categories of digital agreements that have few participants and already use digital state - things like derivatives. [...] In a period like 5 years you're going to see the high value contracts in spaces like derivatives, spaces like the bond market, all kinds of different securities, even equities, they're going to be the standard. So smart contracts are going to be the standard."

Skip to 6:45 or so. It's worth watching all the way through. Despite the impression you might get from this board, Sergey is not some fat autist selling shitcoins from a toilet. He's the real deal. He also mentions a key theme at the conference as being moving from proof of concept to real world implementation. It could not be more clear.

If they pull this off 1 LINK could easily be worth $100+ within a few years. Pic related is legit (though time frames might be slightly optimistic, we'll see.)