BlackRock CEO: The potential impact of asset tokenization is comparable to the rise of the early internet.

BlackRock CEO Larry Fink and COO Rob Goldstein stated that tokenization is becoming a transformative force in global markets, with potential impacts comparable to the early rise of the internet.

The two executives pointed out in an article in The Economist that recording asset ownership on digital ledgers can modernize the financial system by improving efficiency, transparency, and accessibility. They believe tokenization is currently at a stage similar to the internet in 1996 — developing rapidly and possibly expanding faster than most people expect.

The two executives emphasized that the two major advantages of tokenization include the potential for instant settlement and replacing cumbersome private market processes with code. They believe tokenization will become a bridge between traditional institutions and digital innovators, with investors eventually buying, selling, and holding all asset types through a single digital wallet. (Theblock)