BlackRock CEO: The potential impact of asset tokenization is comparable to the rise of the early internet

On December 2, according to Theblock, BlackRock CEO Larry Fink and COO Rob Goldstein stated that tokenization is becoming a transformative force in the global market, with a potential impact comparable to the rise of the early Internet.

In an article in The Economist, the two executives pointed out that recording asset ownership on a digital ledger can modernize the financial system by increasing efficiency, transparency, and accessibility. They believe that tokenization is currently at a stage similar to the Internet in 1996—developing rapidly and potentially expanding faster than most people expect.

The two executives emphasized that the two major advantages of tokenization include the potential for instant settlement and the replacement of cumbersome private market processes with code. They believe that tokenization will become a bridge between traditional institutions and digital innovators, and investors will eventually be able to buy, sell, and hold all asset types through a single digital wallet.

[TechFlow]