As a seasoned crypto investor with a background in traditional financial markets, I’ve witnessed firsthand the transformative power of technology in reshaping our industry. The recent remarks by Jenny Johnson, the CEO and President of Franklin Templeton, during the Milken Institute Global Conference, have reaffirmed my belief in the potential of blockchain and its related technologies like tokenization and generative artificial intelligence (AI).
Jenny Johnson, the head of Franklin Templeton, a financial company managing $1.6 trillion in assets, restated her supportive view on blockchain technology during a talk with Bloomberg’s David Westland at the 27th Milken Institute Global Conference in California.
As a crypto investor, I found Johnson’s insights on tokenization and generative artificial intelligence particularly intriguing during our recent conversation. He shared valuable perspectives on how these innovative technologies could transform the crypto landscape.
Tokenization
As a passionate believer in the potential of blockchain technology, I’m thrilled to share how Franklin Templeton has gained from tokenization. Tokenization, in essence, is the process of converting real-world assets into digital tokens that can be bought, sold, and traded on the blockchain. For us at Franklin Templeton, this innovation brings several benefits.
I experienced an intriguing scenario where a company conducted a comparative study on processing account records using conventional techniques and blockchain for approximately six to eight months. According to Johnson, the findings were impressive from my perspective as a crypto investor. “We were taken aback by the substantial cost savings we realized when operating on the blockchain platform.”
Johnson added:
“It’s a very efficient technology, and we think it’s going to open up a lot of new investment opportunities. And, honestly, eventually, I think ETF and mutual funds are all going to be on blockchain.”
This prediction can be traced back to the significant expenses involved in confirming data consistency across various systems – an issue that blockchain technology was specifically engineered to resolve. Johnson also highlighted that even after aligning data internally, there’s a persistent need for external parties, including financial institutions and stakeholders, to authenticate the information with one another.
“In the case of blockchain,” she stated, “there’s only one source of truth.”
As a researcher, I’ve discovered that the financial and time savings can open up a wider range of investment possibilities for individuals. For instance, pop superstar Rihanna showcased this concept when she issued 300 NFTs (Non-Fungible Tokens). These tokens granted their owners a minor share of royalties from one of her songs through smart contracts.
In the past, Johnson has made a comparison, as mentioned in an article by CryptoMoon published in October 2023. During an interview with CNBC’s Delivering Alpha, the CEO used the Rhianna story to illustrate tokenization as an amplified version of securitization.
Generative AI
The discussion subsequently moved towards generative artificial intelligence. Johnson acknowledged the value of such systems, yet expressed a caution, likening their capabilities to a student who excels in English language classes but struggles with mathematics.
The CEO acknowledged that Franklin Templeton had teamed up with Microsoft to create an AI-driven sales support system. Moreover, she expressed her optimism about the prospect of AI being applied to investment opportunities in this domain. Furthermore, she praised the capability of AI-enhanced translation services in overcoming linguistic obstacles within the financial sector.
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2024-05-11 23:31