Billionaire Chamath Palihapitiya predicts that one crypto sector will fund every single asset
Billionaire venture capitalist Chamath Palihapitiya says that one sector of the crypto industry will be responsible for monetizing all assets and putting them on the blockchain.
In a new All-In podcast, the CEO of Social Capital predicts that people will eventually find a way to tokenize all their assets and possessions in an effort to capture value.
“All the leakage you have today disappears in the world of DeFi (decentralized finance) because you want to finance every possible asset. You want to finance your homes. You want to finance your cars. You want to finance your watches, your jewellery, your art. You will finance every random thing [including your] career.
By monetizing it and financing it, you can borrow against it, you can trade it, you can extract value into the future against it.”
According to Palihapitiya, users who put their assets on the chain will not mind paying taxes because of the potential to generate large income.
“But it will all be tracked. As long as the government then says: ‘Listen, we will make everything possible, but there must be a detour to taxation.’ And it is simply because there is a physical house in the world. You cannot hide the existence of a physical house…
I think what this will create is a world where all these assets that actually exist in the real world, it will be fine for it to exist and for people to be taxed on it, but it will be much more legitimate and I think it will be simpler.
I think people will trade incremental taxation for incremental monetization… If you actually unlocked the ability to focus on revenue versus spending, you just wouldn’t focus as much on the taxation because you’d say, ‘Well, I can make this much more money.'”
I
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered straight to your inbox
Check price action
Follow us on TwitterFacebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/Admin9966/Sensvector
