AI-powered hackers keep big banks off blockchain, says CertiK CEO
CertiK CEO Ronghui Gu warns that AI-powered hacking threats are delaying traditional banks from moving trillions of dollars of assets onto blockchain networks despite strong institutional interest.
AI-powered hackers are the primary obstacle preventing traditional banks from moving trillions of dollars of assets onto blockchain networks, according to Ronghui Gu, CEO of blockchain security firm CertiK.
In an interview with CoinDesk, Gu explained that while financial institutions are eager to capture the efficiency gains of decentralized ledgers, the current security landscape remains too risky. He noted that AI-driven attacks have become more sophisticated, targeting smart contracts and cross-chain bridges, which are critical infrastructure for onchain asset migration. The potential for exploits, hacks, and loss of funds has made risk-averse banks hesitant to commit large-scale capital to blockchain platforms.
For cryptocurrency and digital asset traders, this institutional caution has direct implications. Large-scale bank adoption would likely drive significant demand for crypto assets and increase liquidity, but the delay means that the anticipated wave of institutional capital may take longer to materialize. Traders can monitor real-time market sentiment and price action on NowPrice's live crypto dashboard to gauge how these developments affect asset prices. The ongoing security challenges also highlight the importance of robust auditing and insurance mechanisms in the DeFi space.
Looking ahead, the industry will watch for advancements in blockchain security, such as zero-knowledge proofs and formal verification, which could mitigate hacking risks. Regulatory clarity around liability and insurance for onchain assets may also accelerate adoption. Gu's timeline of 10 years for trillions of dollars to move onchain suggests a gradual but transformative shift, contingent on solving the security puzzle.