Blockchain purists often reject this model in both good and bad times, pointing out that it breaks the “trustless” structure of decentralized blockchains because someone or some centralized institution must now be trusted to identify, represent and attest to the value of the assets on chain.
One is that technological advances in cryptography since 2018 have encouraged tokenization projects to migrate from those closed, permissioned projects onto public, permissionless blockchain platforms such as Polygon.
Other big fund managers are eyeing different, democratizing opportunities. Franklin Templeton CEO Jenny Johnson, a, talks about tokenization offering the opportunity to customize individual investors’ portfolios around their interests – including adding exotic new assets such as tokenized royalty streams from their favorite musical artists.
to tokenize dollars used in wholesale interbank transfers. The intent here is to speed up the clearing and settlement time in the daily netting out of payments across each others’ customer account and to reduce the risk of failed payments.It’s worth noting, however, that the Fed’s de facto endorsement here is an isolated case among government agencies, one that’s limited to working with a few highly regulated institutions with which it is deeply involved on a daily basis.
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