BlackRock believes that tokenization – recording ownership of assets on a digital ledger – is the “next big step in market infrastructure,” which could help facilitate faster and safer transactions and payments of assets. CEO Larry Fink and COO Rob Goldstein wrote in The Economist that this technology has the potential to expand investment portfolios and replace outdated manual processes in finance.
Tokenization allows stocks, bonds, real estate, and other assets to exist in the form of verifiable, tradable, and payable digital records without the need for traditional intermediaries. However, BlackRock leaders emphasize that this is a multi-stage transformation process, not an immediate revolution.
Expert Joshua Chu from the Hong Kong Web3 Association stated that tokenization will gradually develop according to closely managed use cases, “not everything will be tokenized in just one year.” Franklin Templeton and BlackRock are deploying a tokenized fund platform, with BlackRock's BUIDL fund currently reaching $2.3 billion, making it one of the largest tokenized assets in the world.
Fink emphasizes that the technology is particularly useful for assets with multiple intermediaries, such as real estate, where tokenization can reduce costs and increase accessibility.
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