$LINK marines have long accepted that there’s going to be hundreds, if not thousands, of corporate blockchains
“Every bank will have its own chain, every bank will have its own stablecoin.” -Sergey Nazarov at Swift’s Sibos 2023
Chainlink has not only been built to acknowledge this reality, but directly benefit from the growing number of corporate chains
Chain maxis are just now coming to face this reality, initially with hard resistance and push back
How they handle this eventuality and rationalize the industry’s shift going forward will be their cross to bear
Ethereum community will praise corporations for launching multisig-governed L2 chains (Coinbase, Robinhood)
But then demonize corporations launching for launching Proof-of-Authority L1 chains (Stripe, Circle)
Any ideological concerns you have about one type of corpo chain, you should have about the other
In both instances, there is a single or small group of entities who can be coerced into censorship / protocol rule changes or otherwise fail to uphold neutrality
Both types of networks can claim they will uphold neutrality and transition to a permissionless architecture in the future
But if you’re going to wring your hands publicly about the “lack of credible neutrality” of corpo L1 chains, why not do the same about the corpo L2 chains?
The reality is that we’re going to see many many more corporate chains launch and they’re going to vary in implementation (L1 and L2, EVM and non-EVM, permissioned and permissionless, etc)
The pie is growing and there’s plenty to go around, corporations will choose the tech stack that best suites their product requirements, so you should build to meet those requirements
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