Largest asset manager: ‘Crypto can cause a revolution’

The CEO of the world’s largest asset manager BlackRock, Larry Fink, recently spoke out about the demise of crypto exchange ftx. According to Fink, FTX’s token, FTT, contributed a lot to the drama, but despite all this, the technology behind the token remains revolutionary.

FTT token

The CEO and chairman of the asset manager, which has more than $8 trillion in assets under management, said this at a New York Times meeting. yesterday. Notable is the fact that Fink acknowledges that the technology with which the FTX token was created is groundbreaking and that it will be widely used in the financial sector in the future.

Of course, not only FTX had its own exchange token. Other exchanges such as Binance and Crypto.com also have a centralized exchange token in circulation. However, according to Fink, most of these companies and tokens will sooner or later cease to exist.

Nevertheless, Fink expects big things from “tokenized assets.” He argues that the previous evolution of the world of investing was brought about by the advent of exchange-traded funds (ETF). This ensured that the way in which investments were made was completely overhauled.

The next evolution will come through tokenizationsaid the BlackRock CEO. Those are serious words and quite a prediction.

“I believe the next generation for markets will be tokenization of securities.”

Securities as tokens?

He then elaborated on some of the potential benefits of tokenization, suggesting that it would change the investing ecosystem. Instead of relying on banks, instant transactions would be possible through blockchain technology.

“Think instant settlement of bonds and stocks, no intermediaries, we are going to cut costs even more dramatically,”

Fink’s words clearly show that he believes the crypto industry has a future. On top of that, according to Fink, this future looks pretty bright, with the potential to revolutionize the traditional world.

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