The CEO of Blackrock, Larry Fink, recently said that tokenization will be “the next generation for markets”. If you think of tokens as bitcoin
BTC
Not Ideology, Economics
Mr. Fink’s perspective is not, I am sure, idealogical. His view of a new kind of financial market infrastructure of fungible and non-fungible tokens that are exchanged through decentralised financial services will provide “instantaneous settlement” and “reduced fees.” Tokens are bearer instruments. The token for $100 or for a seat at a Rangers game is either in my wallet, in which case it is mine, or it is in your wallet, in which case it is yours. When a token goes from my wallet to your wallet it is now yours. There is no clearing or settlement, no reconciliation and no question of authenticity.
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