Looming $300 Trillion Crypto ‘Quantum Leap’ Revealed Amid Huge Bitcoin and Ethereum Price Pump
BitcoinBTC and ethereum — the two biggest cryptocurrencies — have soared so far this year as hyperinflation fears sweep Silicon Valley.
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Bitcoin price has risen around 70% since the beginning of January, triggering a wave of bullish bitcoin price predictions. The Ethereum price has added a similar amount, adding around $200 billion to the combined crypto market.
Now, after BlackRock’s CEO revealed that the world’s largest asset manager is “exploring the digital asset ecosystem,” a new report has found that nearly $300 trillion in private assets could be tokenized on blockchains.
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“Tokenization could open up worlds not yet imagined for private assets in a similar way to how the internet and e-commerce transformed many industries over the past two decades,” said the report from crypto infrastructure provider Taurus.
Real assets such as stocks, investment funds and private markets that include private equity, venture capital, real estate and art can all be “tokenized” on a blockchain, according to the report, with “mostly paper-based” private markets potentially having more to gain from tokenization than their already electronic public counterparties.
Tokenizing securities can facilitate trading, enable instant settlement, create liquidity and price discovery, and reduce costs, Taurus researchers found.
“Tokenization opens the door to a wide universe of new opportunities, which the financial industry is only beginning to understand and embrace,” Jacques Iffland, partner at Lenz & Staehelin and chairman of the Capital Markets and Technology Association (CMTA), wrote in the paper. report’s foreword, adding blockchain technology represents a “quantum leap” for commerce.
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“Private funds are very limited in terms of liquidity options, and by issuing shares on chain, they can open up marketplaces to allow investors to exit,” said Morgan McKenney, CEO of the Provenance Blockchain Foundation. DL News.
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