Tokenization has become a buzzword on Wall Street as investors and financial institutions seek to leverage blockchain technology to streamline and enhance the trading of assets. With the recent victory of US President-elect Donald Trump and the establishment of BlackRock's tokenized money market fund, there are signs that the tokenization of US Treasury bonds, securities, and even real assets is expanding. However, experts caution that there are still challenges that need to be addressed before tokenization can become a mainstream practice. Nathan Allman, CEO of Ondo Finance, points out that "tokenized assets have very little value outside of US Treasuries. Most tokenization projects are trying to sell cheap, low-quality assets to investors." Ervinas Janavicius, head of global management consulting firm Capco, agrees that "blockchain can improve the efficiency of payment methods and there are many opportunities (for tokenization), but there are still many things to improve." Despite the challenges, the potential benefits of tokenization are significant. Tokenization can increase the liquidity of assets, making them more accessible to a wider range of investors. It can also reduce transaction costs and improve transparency and security. As the technology continues to mature and the regulatory environment becomes clearer, tokenization is likely to play an increasingly important role in the financial markets.