@jomin
From the perspective of municipal governments, the demand for asset tokenization may seem limited. However, we need to view this from the standpoint of U.S. policymakers and understand what they are aiming to achieve: they are making a comprehensive push to migrate all assets and securities from off-chain to on-chain, using blockchain technology to restructure the traditional financial market. In the future, there will be no distinction between on-chain and off-chain stocks; instead, stocks will be issued directly on the blockchain. This is also what the CEO of Nasdaq referred to as the future possibility of directly tokenized IPOs.
The centralized database systems of traditional finance are being transformed through blockchain ledger systems. The form of securities has evolved from paper-based book-entry records over the past century, to electronic book-entry records formed over thirty years ago, to the database systems developed in the last decade. The future lies in distributed ledger systems.
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