United States Financial System 3.0

Sergey Nazarov's keynote speech at the D.C. Blockchain Summit outlines the three fundamental principles necessary for the United States to lead the transition to a blockchain-based financial system: asset origination, automation of compliance, and global distribution. He argues that the U.S. should aim to be the primary source of digital asset origination, ensuring that assets are reliable and connected to real-world value. The automation of compliance is crucial to reducing transaction costs and increasing the demand for U.S.-originated assets. Global distribution plays a vital role in making these assets accessible worldwide, leveraging DeFi, fintech, and institutional networks. Nazarov emphasizes the importance of reliable assets supported by technologies like proof of reserves and Unified Golden Records, which ensure transparency and mitigate risks. He advocates for collaboration with governments to develop standards and regulations that enhance the U.S. financial system's competitiveness in the Web3 era, ultimately making tokenized assets superior to traditional ones.