After attending the Digital Asset Summit (DAS) in New York City, Toni Witt shares his thoughts and takeaways from the event. In Part 1, Toni talked about two of the three key themes he recognized: scaling and regulatory clarity. In Part 2, Toni continues his reflections by discussing the third key theme: digital tokenization.
Highlights
00:10 — The third theme at the Digital Asset Summit was the enormous energy and enthusiasm behind digital tokenization. This involves taking real-world assets and turning them into tokens that live on the blockchain. Toni recalls speakers at the event being excited to trade tokens on decentralized protocols.
01:01 — Trading tokens in decentralized protocols improves the liquidity around the assets, as they are easy to trade. Tokens make participating in this market more accessible for a wider audience since they have the feature of fractionalization and require less paperwork.
02:04 — There was a consensus in agreement that large financial institutions moving assets into the blockchain as tokens will rapidly accelerate. Toni suggests that tokenization is the driver for large banks since they have a lot of assets.
02:54 — The panelists at the event compared financial institutions’ involvement in the blockchain to the “1995 moment of finance,” as they are beginning to root in the blockchain. Prior to this uproar, Toni says that fintech innovations were based on the application layer, whereas now, it is rapidly being changed by the blockchain.
03:56 — The goal for financial institutions is that users will not know if they are using DeFi, cryptocurrency, or blockchains — they will just use it.
04:41 — Toni encourages listeners to attend the 2023 Cloud Wars Expo.
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