Content Introduction
The video discusses the potential for a major economic boom driven by a new monetary policy regime, possibly with a new central bank chair, and the increasing adoption of Distributed Ledger Technology (DLT). It highlights Goldman Sachs and BNY Mellon joining forces to tokenize $7.1 trillion in the money market industry and Figma's potential IPO using blockchain common stock. The video also notes that there's a long way to go with tokenization, as currently only a small fraction of global stock market value is tokenized. A clip discusses the broader societal impact of blockchain beyond finance. The speaker views blockchain as potentially transformative and states it's a way for individuals to trust one another to enable a globalized system.Key Information
Timeline Analysis
Content Keywords
Federal Reserve
Donald Trump criticized the Federal Reserve, stating interest rates are too high and should be at 1% instead of 4%. Lowering rates would save over $1 trillion and stimulate the economy, potentially leading to a major economic boom. A new, more accommodating Federal Reserve chair is anticipated, further fueling this.
DLT Technology
DLT (Distributed Ledger Technology) is expected to drive a financial sector boom, similar to the impact of shipping containers on global trade, potentially increasing the shipping industry by 700%. This technology standardizes how financial processes are done, similar to container standardization for shipping.
Tokenization
Goldman Sachs and BNY Mellon are joining forces to transfer $7.1 trillion in the money market industry using digital tokens, allowing institutional investors to purchase tokenized money market funds via Goldman's blockchain platform. BlackRock and Fidelity are among the firms signed up. Tokenization is expanding beyond money market funds to tokenize everything, aligned with Larry Frink's goal and vision.
Figma IPO
Figma, valued at around $16 billion and used by many large institutional players, is potentially launching its IPO using distributed ledger technology. In its S1 filing, Figma authorized the issuance of undesignated preferred stock and blockchain common stock, signaling a move towards offering shares in the form of blockchain tokens.
Tokenized Equities
Tokenized equities are becoming widespread, though currently only about $0.5 billion has been tokenized globally, primarily on Algorand, where Exodus issued its stock. Comparatively, the global stock market is worth over hundreds of trillions of dollars, signaling vast growth potential for tokenization."
Globalized System
The total cryptocurrency market is expected to reach $6.3 trillion. Blockchain technology is fundamentally changing society, enabling trust among individuals and creating new industries. This is seen as leading towards a globalized system, where DLT serves as a key missing piece.
Internet of Trust
The journey of blockchain technology since 2018 has been toward creating a new "Internet of Trust." Originally the Internet was a closed network, but eventually that network became untrusted so a cyber security industry was created to protect us from each other. With Blockchain having the ability to change society it aims to implement a safe way for individuals to trust one another.
Related questions&answers
What is the speaker's opinion on the Federal Reserve?
What does the speaker think about money creation?
What are the speaker's thoughts on the future?
What is the significance of the partnership between Goldman Sachs and BNY Melon?
What is the speaker's viewpoint on Figma's IPO?
What's is the speaker's comment on blockchain's impact?
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