SmartCon Insights | The convergence of traditional finance and the crypto market is an inevitable trend; young people's investment preferences and government policy support will fuel continued innovation in the US crypto industry.

On the second day of Chainlink's annual flagship conference, SmartCon, Chainlink co-founder Sergey Nazarov and Patrick Witt, executive director of the White House Council of Advisors on Digital Assets, held a fireside chat on "Blockchain Technology and the Future of the U.S. Financial System." During the chat, Patrick Witt addressed the specific reasons for the U.S. government's focus on the blockchain and cryptocurrency industry, including encouraging innovation—specifically, the desire to consolidate its dominant position in the global financial system by supporting blockchain technology; and secondly, promoting the development of blockchain technology through legislation and policy support to help the U.S. re-establish its leadership in this field. Furthermore, when Sergey Nazarov asked about "how blockchain technology will impact the financial system and the U.S. economy," Patrick Witt pointed out that traditional finance and cryptocurrencies will gradually merge into a unified financial system, bringing more innovation and efficiency improvements; the younger generation's higher acceptance of cryptocurrencies and blockchain technology also means they are more inclined to invest in cryptocurrencies and tokenized assets; and the government will continue to promote the application of blockchain technology in the financial sector through policy support, ensuring financial stability and consumer protection while providing a favorable environment and infrastructure support for industry innovation.