BlackRock: Tokenization will shape a new stage of global market development, and future digital wallets can hold and trade various types of assets.

BlackRock CEO Larry Fink and COO Rob Goldstein wrote in The Economist that tokenization is shaping the next stage of development in global markets by modernizing infrastructure by connecting traditional and digital finance, thereby increasing efficiency, transparency and accessibility.

Tokenization can replace paper documents with code, thereby reducing the friction that makes asset transactions costly and time-consuming, and transforming large, unlisted assets (such as real estate or infrastructure) into smaller, more accessible units.

Today, the development stage of tokenization is roughly equivalent to the period when three of the "Tech 7 Giants" had not yet been established. Its development speed will be comparable to the development speed of the Internet and will achieve tremendous growth in a few decades. In the future, all types of assets can be bought, sold and held through a digital wallet.

[ChainCatcher]