According to Cointelegraph: Jenny Johnson, CEO and President of Franklin Templeton, recently doubled down on her positive outlook towards blockchain. In a conversation at the 27th Annual Milken Institute Global Conference in California, she predicted a future where Exchange-Traded Funds (ETFs) and mutual funds will wholly utilize blockchain technology.
Johnson spoke intensively on the topics of tokenization and generative artificial intelligence during her talk with Bloomberg anchor David Westland.
"I am a huge fan of blockchain and the technology," said Johnson when questioned about Franklin Templeton's benefits from tokenization. She narrated an experiment conducted by the company where it used blockchain alongside traditional methods to process account records for a span of six to eight months. "We were astonished by how much less costly it was to run it on blockchain,” she asserted.
Attributing her optimistic outlook on the blockchain's future to the high costs associated with data verification between various systems—a problem blockchain intends to solve—Johnson said, "I think ETF and mutual funds are all going to be on blockchain."
Johnson also touched upon the potential of blockchain to foster diversified investment opportunities by mentioning the case of pop superstar Rhianna, who released a series of 300 NFTs granting holders a small percentage of song royalties via smart contracts.
Switching to generative artificial intelligence, Johnson expressed caution, likening its usefulness to a student acing English but failing in Math. However, she acknowledged its benefits, mentioning Franklin Templeton's recent partnership with Microsoft to develop an AI-powered sales assistant and potential investment opportunities in the AI space.
