BlackRock: Tokenization Will Shape the Next Phase of Global Market Development, and Digital Wallets Will Be Able to Hold and Trade Various Types of Assets in the Future

According to ChainCatcher, BlackRock CEO Larry Fink and COO Rob Goldstein wrote in The Economist that tokenization is shaping the next phase of global market development by modernizing infrastructure through connecting traditional finance and digital finance, thereby improving efficiency, transparency, and accessibility.

Tokenization can replace paper documents with code, 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.

Currently, the stage of tokenization development is roughly equivalent to the period before three of the “Tech Big 7” companies were founded. Its growth rate will rival that of the internet, achieving tremendous growth over the coming decades. In the future, all types of assets could be bought, sold, and held through a single digital wallet.