Tokenization's Role in Shaping the Future of Global Markets

According to Odaily, BlackRock CEO Larry Fink and COO Rob Goldstein have highlighted in an article for The Economist that tokenization is poised to shape the next phase of global market development. This process modernizes infrastructure by bridging traditional and digital finance, enhancing efficiency, transparency, and accessibility. Tokenization replaces paper documents with code, reducing the friction that makes asset transactions costly and time-consuming. It allows large, unlisted assets like real estate or infrastructure to be converted into smaller, more accessible units. Currently, the development stage of tokenization is comparable to a time when three of the 'Big Tech 7' companies had not yet been established. Its growth rate is expected to rival that of the internet, achieving significant expansion over the coming decades. In the future, various types of assets could be bought, sold, and held through a single digital wallet.