Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

What's going on, guys? It is Monday, July 17th, and today we are talking about the blending of

Tradfi and Crypto. Before we get into that, if you are enjoying the breakdown, please go subscribe to it,

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breakdown pod.

Hello friends, happy Monday. Welcome back. Today we have a returning guest, Sergey from Chainlink

is back. And nominally the context for this is that today they announced their cross-chain

interoperability protocol or CCIP. C-CIP is basically a way for developers to build

applications and services that operate across different chains. It's an attempt to bridge

the archipelago of smart contract chains that have arisen over the last few years, and to hopefully

do so in a way that addresses some of the problems that have led to bridge exploits of previous

attempts. Now, as part of the launch, they led to bridge exploits of previous attempts.

Now, as part of the launch, they announced AVE and Synthetics as early users, but even more interesting, from a macro and big picture perspective, is that the initial group of CCIP

testers also includes SWIFT, i.e. the messaging protocol that banks use, plus the depository

trust in clearing corp or DTCC, and a huge array of

extremely large banks, Citi, BNY Mellon, Lloyd's Banking Group, BNP Parabas, and more.

The goal is to enable these banks to move between digital asset transfers and traditional

bank transfers effortlessly, and in that, I think it's an interesting example of a much

wider and more significant trend,

which is, of course, not just the institutionalization of crypto and Web3, but the actual

...