TOKENIZATION: Nasdaq & Blackrock & JPM
At the beginning of ‘24, we wrote an op-ed in the American Banker criticizing OCC Chief Michael Hsu for missing the point on decentralization.
Fast forward…
Nasdaq announces plans to tokenize equities in a hybrid model.
Blackrock announced plans to tokenize ETFs.
JP Morgan announced its tokenized deposits.
These are some of the biggest institutions in the land.
If you do not understand why many assets are going on-chain, I recommend reading this op-ed below.
Always a treat to speak at the Tokenization conference - joined by ParaFi, Stripe, Arrington Capital.
I do believe Lumida has been on the right side of history, and proud that we did what to shape the debate when it was Non-Consensus.
Thank you Centrifuge for having me, always a treat.
@Scaramucci
@malekanoms
1/ Op-Ed: In Defense of Decentralization
Please RT and help me get the word out!
It's time to go on offense on crypto policy.
Today, we published an op-ed in American Banker "In Defense of Decentralization" with @Scaramucci and @omidaladini.
Michael Hsu, the nation's chief banking regulator, recognizes tokenization as an opportunity.
He cites @VitalikButerin multiple time in his written remarks.
But he prefers a centralized blockchain. That misses the point.
This op-ed lays out the intellectual defense for decentralization.
It answers the question of why decentralized blockchains are superior to centralized chains - which are merely glorified databases.
We discuss the incentive and game-theoretic properties of a decentralized chain and how they could have address:
(i) the Libor rate rigging scandal
(ii) the lack of transparency in the 2008 sub-prime securitization market, and how
(iii) decentralization opens up capital and innovaiton across the long tail.
It's time to go on offense and win the battle of ideas.
Closing Arugument:
"As former SEC Chair Jay Clayton notes, embracing decentralized blockchain technology in our financial system should not be a matter of controversy.
Decentralization was central to the Founding Fathers' vision of America.
Whether in application to the design of the U.S. government, decentralization is a sound organizing principle.
It's time to start settling tokenized assets on decentralized public blockchains like Ethereum."
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