BlackRock: Tokenization will shape a new stage of development in global markets; in the future, digital wallets will be able to hold and trade various assets.

Odaily Planet Daily reports that BlackRock CEO Larry Fink and COO Rob Goldstein, writing in The Economist, argue that tokenization is shaping the next phase of development in global markets, modernizing infrastructure by connecting traditional and digital finance to improve efficiency, transparency, and accessibility. Tokenization can replace paper documents with code, reducing friction that leads to costly and time-consuming asset transactions and transforming large, unlisted assets (such as real estate or infrastructure) into smaller, more accessible units. The current stage of tokenization development is roughly equivalent to the period before three of the "Big Seven" tech giants were even founded; its growth rate will rival that of the internet and will achieve tremendous growth within decades. In the future, all types of assets will be able to be bought, sold, and held through a single digital wallet.