The ultimate goal of Wall Street is
Tokenization. The true disruptive power of blockchain lies in its elimination of intermediaries and the realization of a banking free financial system. We have seen this in the ‘killer use case’ of cryptocurrency – stablecoins. They are the only way to send $10000 to friends around the world in a matter of seconds through a mobile phone at a cost of less than a penny. All of this is because they avoid intermediaries such as Western Union, PayPal, and banks.
The adoption rate of stablecoins is rapidly increasing. At present, the total value of stablecoins in circulation has reached 250 billion US dollars, exceeding the physical currency of Canadian dollars or British pounds. Stablecoins are tokenization of the US dollar. Next, all real-world assets such as stocks, bonds, real estate, oil drums, and art will be put on chain. The total value of global real-world assets is estimated to exceed $250 trillion, which is the market potential we are discussing.
Wall Street is at the forefront of tokenization. BlackRock, the world’s largest asset management company, recently launched a Token based treasury bond bond fund. Another Wall Street giant, Franklin Templeton, also conducted the same operation on its money market fund. Robinhood has started offering tokenized shares of private startups such as OpenAI and SpaceX to users in Europe. JPMorgan Chase, UBS Group Visa、 Bank of New York Mellon, PayPal… almost no Wall Street company is not migrating to blockchain. Even city states are involved, such as Dubai recently tokenizing an entire building.
The current financial infrastructure has remained unchanged for decades, yet it processes trillions of dollars in transactions every day. Imagine how much momentum cryptocurrency will gain when these massive funds start flowing on the blockchain, and how much money companies like BlackRock will save by eliminating intermediaries.
BINANCE:https://accounts.binance.com/register?ref=E2222