According to Akshay BD, the non-Chief Marketing Officer (nCMO) of the Solana Foundation, the current capital market structure fails to serve a broad range of investors. In a panel discussion at the Accelerate 2025 conference, Akshay argued that blockchain technology could help address these shortcomings and claimed that Solana could "over time make everyone an investor or a dreamer."

Akshay pointed out that uncertainty among investors is increasing, citing concerns from investment managers who say that client anxiety is intensifying. "Bond yields are low, asset prices are in a bubble, and people no longer really understand how traditional asset allocation models work," he said. "The 60-40 portfolio has long failed to provide stable returns."

He attributed part of this tension to the widening gap between wage income and wealth accumulated through asset ownership. He added that retail investors are often excluded from private markets, which typically only accredited investors can access—this dynamic could lead to overheating in public markets.

Akshay warned that the rapid development of artificial intelligence could further deepen existing economic divides. "The question is, where are we headed?" he asked. "Is it […] universal basic income (UBI), where we are essentially creating a welfare economy to support those who cannot keep jobs or own assets? Or is it what we propose, universal basic ownership (UBO), allowing everyone with a smartphone to own assets?"

He outlined a vision where crypto infrastructure could enable broader asset ownership, allowing individuals to invest in a variety of assets from energy companies to local coffee shops through tokenization. In this model, acquiring ownership stakes could be as simple as scanning a QR code.

In the Solana ecosystem, the "non-Chief Marketing Officer" (nCMO) is a role within the Solana Foundation focused on supporting marketing efforts for the Solana community.

The U.S. public equity market has long been above its historical valuation levels. According to market analysis firm Multpl, since December 2018, the price-to-earnings (P/E) ratio of the S&P 500 has remained above 19.6, higher than the historical average P/E ratio of about 16.1 for the index, indicating that investors have been willing to pay a premium for earnings in recent years.

Globally, the average valuation of the S&P 500 has been gradually rising for decades, driven by factors such as low interest rates, corporate profit growth, and investor optimism about technology. However, high valuations have also coincided with periods of market correction, such as the bursting of the internet bubble and the financial crisis following the 2008 subprime mortgage market collapse.

According to Akshay, one way to address this overheating is to open certain markets to retail investors, a noble goal that some areas of the crypto industry, such as the tokenization of real-world assets (RWA), aim to facilitate. Akshay noted that some entrepreneurs had previously attempted this approach, but the technology at the time did not support the vision. "[Crypto technology] started with gaming and quickly became profound."

"What it empowers you to do is to financialize all productive assets in the economy, so that anyone participating in that economy has the potential to become an owner of that economy," he said.

Related: 1inch co-founder: DeFi's near-zero entry barrier is expected to benefit 1.4 billion unbanked individuals

Original article: “Solana Foundation nCMO: Solana ‘will make everyone an investor’”

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