Speaking at the World Economic Forum (WEF), Larry Fink, CEO of BlackRock, called on the financial world to move towards a unified blockchain standard to accelerate the Tokenize of assets on a global scale.
According to Fink, Tokenize is no longer an experimental concept but is becoming a new infrastructure for the financial market. However, the existence of too many separate blockchains can increase costs, Shard liquidation , and limit interoperability between different asset classes. A common blockchain standard would help reduce transaction fees, allow assets to be traded more seamlessly and transparently, and limit the risks of fraud and corruption in asset management.
Brazil and India are leading the digital finance experiment.
Larry Fink particularly highlighted the pioneering Vai of Brazil and India in deploying digital financial infrastructure and monetary initiatives, XEM them as examples of how Tokenize can be applied on a national scale. According to him, emerging markets are embracing blockchain technology faster due to fewer legacy barriers from the old financial system, thereby creating a long-term competitive advantage.
Ethereum is gaining dominance in Tokenize.
Citing internal BlackRock research data, Fink stated that over 65% of currently Tokenize assets are operating on the Ethereum network. This reflects Ethereum's dominant position in the real asset Tokenize (RWA) market, thanks to its vast developer ecosystem, widely used smart contract standard, and high level of adoption from financial institutions.
However, the BlackRock CEO also noted that the "ultimate winner" is not necessarily the currently leading blockchain, but rather the platform that best meets the requirements for scalability, legal compliance, security, and cross-border interoperability.
Tokenize – the new infrastructure of global finance.
