During an event in New York City, Joseph Chalom emphasized that many had expected faster adoption of tokenization. In the long run, however, this technology could completely “change our ecosystem.”<br
“We need to work with good entrepreneurs and build quality infrastructure. Then this sphere will strengthen itself, and acceptance and money will not be long in coming,” said the head of the department.
According to Chalom, BlackRock is constantly in discussions and deliberations with its traditional and cryptocurrency clients about tokenization of various assets. In doing so, the tokenization industry, he believes, should prioritize the use of technology in the real world.
Interestingly, a top BlackRock executive is less optimistic about institutional adoption of decentralized finance (DeFi). One of the main obstacles is the fear of possible crimes and the difficulty of identifying clients. In this case, the prospects for smart contracts and liquidity pools are quite large.
Recall that last week BlackRock filed an application to launch a spot ETF on bitcoin.