In this article. Anthony Scaramucci believes Solana will lead the wave of tokenization, and is also positive about tokenization itself.
Leading financial institutions are already using the network for future offerings.
#SOL is down 2% since reaching the 2024 point, but the #token is still in a great position.
Anthony Scaramucci, founder of Skybridge Capital, believes the #Solana network will lead the future of asset #tokenization . Speaking at the recently concluded Solana Breakpoint Conference, Scaramucci said that asset tokenization has great potential and could save the world up to $7 trillion by streamlining the financial system.
him, the financial industry spends about $7 trillion a year to validate transactions. The current process involves multiple counterparties and intermediaries, making it costly and difficult to understand.
On said:
For the last 5 00 years, we have had third parties validating transactions. The problem in the securities industry is that it's not one third party, it's seven or eight different third parties. So if you buy stock from my account, it has to go through seven different organizations before it gets into your account.
OnOne noted that transactions are now done within a day, but there is still significant friction. He believes that tokenization will remedy this by replacing intermediaries with permissionless decentralized networks, eliminating these costs and making transactions more seamless.
SnScaramucci added that Solana will be a major player in the tokenized future, admitting that it owns many SOLs and supports the network.
While Scaramucci focused on Solana's potential as a leading tokenized network, there were already signs at the Breakpoint event that other participants agree with him. Two major TradFi institutions, Franklin Templeton and Citibank, have announced that they will use Solana for some of their future offerings.
On the other hand, Solana still has a long way to go in the tokenization space.
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