At Security Token Market’s TokenizeThis 2024 五月会议, experts discussed the tokenization of traditional investment instruments 和 examined opportunities for growth as well as challenges to overcome.
Panelists included moderator Peter Gaffney, 研究主管, Security Token Advisors; 杰森艾莫利大学, vnsr威尼斯城官网登入管理主管, 数字资产; Patrick B. Martinez, Digital Asset Strategy & 创新, Northern Trust; Lorenzo Rigatti, CEO of Italy-based BlockInvest; 和 Mike Reed, SVP of 数字资产 Strategic 合作伙伴hips, 富兰克林邓普顿.
Related: Building the Digital Asset Ecosystem
Traditional Investments on the Blockchain
Franklin OnChain U.S. Government Money Fund is a traditional money fund, but available on blockchain using tokens called “BENJI” 作为标的资产. The fund pays interest in the form of additional Benji tokens, 和, like other tokenized assets, tokens can be easily transferred directly to someone else.
Reed said the transfer process normally takes 3-5 business days, earning no yield during that time. But on the chain, he can transfer the funds directly using a yield-bearing instrument.
Other traditional investments are also already available on the chain. Examples of tokenized assets managed by Northern Trust include a private equity fund, fixed income instruments based in Singapore, 和, 碳抵消信用额, 等.
展望2030年
Northern Trust estimates that 5-10% of its client assets will be digitized by 2030. Others project the total dollar value of all investments available on blockchain by then could be 高达16万亿美元.
Elsewhere, the Bank of Italy has already 与BlockInvest合作 to create 和 launch tokenized products for “minibonds” 和 distressed debt instruments.
“Creating a token is easy, but to enable them is the challenge. We have to tokenize the product, not just the process,” noted Rigatti.
Choosing the Right Blockchain
Each blockchain has very different characteristics, including different user bases, 不同的成本结构, 和 different build capabilities. It’s important to underst和 these differences 和 ensure you choose the right one on which to build out your capabilities to reach the right user base with the features your customers want.
“作为一个全球托管人, we have one primary responsibility, 和 that’s safety 和 security,马丁内斯解释道。. “Customers rely on custodians for security. It’s one thing to put things on the chain, you have to ensure security.”
打破障碍
There are still many challenges to achieving wider adoption of blockchain technology for traditional investment instruments. Three of the most crucial barriers include data st和ardization, liquidity 和 technology infrastructure.
Panelists shared how the fact that each new instrument has to build its own technology infrastructure adds to the challenge. A collective approach with common st和ards would help adoption of tokenization grow 和 really take off.
“People have been creating solutions that put tokens on one BC 和 solutions to move it from one to another. The reality is what do you do with that token?埃默里说。. “We need to think about interoperability, 例如, to move a token from one blockchain to another 和 leverage it in applications that take advantage of the fact that the asset has been tokenized.”
埃默里指出，存, 作为基础设施, is in a unique position to resolve key interoperability issues around liquidity, 数据和基础设施. “The infrastructure layer is really important,” Emery continued. “By coming together as an industry, we can address 和 resolve those key pain points.”
Watch all videos from TokenizeThis 2024.