Odaily Planet Daily reports that 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 Presidential Advisory Council on Digital Assets, held a fireside chat on "Blockchain Technology and the Future of the U.S. Financial System."

During the conversation, Patrick Witt explained the specific reasons why the U.S. government attaches great importance to the blockchain and cryptocurrency industry. These reasons include encouraging innovation, namely, hoping 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 policies to help the United States re-establish its leadership in this field.

Furthermore, when Sergey Nazarov asked about "how blockchain technology will impact the financial system and the US economy," Patrick Witt pointed out that traditional finance and cryptocurrencies will gradually merge into a unified financial system, which will bring more innovation and efficiency improvements. The higher acceptance of cryptocurrencies and blockchain technology among the younger generation also means they are more inclined to invest in cryptocurrencies and tokenized assets. 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.