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

According to a report by Deep Tide TechFlow on December 2, BlackRock CEO Larry Fink and COO Rob Goldstein pointed out in The Economist that tokenization is shaping the next phase of global market development by modernizing infrastructure through the connection of TradFi and digital finance, thus improving efficiency, transparency, and accessibility. Tokenization can replace paper documents with code, thereby reducing frictions that lead to high and time-consuming Transaction Costs in asset trading, converting large private assets (such as real estate or infrastructure) into smaller, more accessible units. Today, the development stage of tokenization is roughly equivalent to the period when three of the 'Tech Seven Giants' had not yet been established, and its growth rate will rival that of the internet, achieving significant rise within decades. In the future, various types of assets can be bought, sold, and held through a digital Wallet.