The next wave of transformation will come from digital assets, specifically the digitization and tokenization of markets.
Written by: Blockchain Knight
Recently, Paul Atkins, the chairman of the U.S. Securities and Exchange Commission, stated that the entire U.S. financial market is expected to migrate to a blockchain that supports Bitcoin and cryptocurrencies within the next two years.
In an interview with Fox, Paul commented: The next wave of transformation will come from digital assets, specifically the digitization and tokenization of markets.
According to the annual economic report released by the Bank for International Settlements, 90% of central banks worldwide are actively exploring tokenized deposits, and an increasing number of traditional financial institutions are joining the tokenization trend.
In addition to the strategies of traditional giants, large native institutions in the Web3 industry are also ramping up their efforts in the on-chain economy.
OKX CEO Star recently stated at the Abu Dhabi Finance Week that the internet generation is creating a brand new on-chain economy, and in the coming decades, approximately 50% of global economic activity will operate on blockchain.
So how exactly is OKX positioning itself in the on-chain economy? After all, Coinbase's strategy is to build a "universal exchange," while BN's strategy involves engaging with the on-chain through Alpha. OKX, on the other hand, has proactively constructed a service system tailored for the on-chain economy.
Yesterday, Op announced that OKX has restructured the zkEVM L2 network X Layer based on the OP Stack. After the overall upgrade, not only is the TPS stable at over 5000, but it also achieves full compatibility with EVM. Through zero-knowledge proof technology, it ensures transaction privacy while guaranteeing security through on-chain verification, laying a solid foundation for the development of the on-chain economy.
In terms of products, the OKX wallet serves as the ecological entry point, integrating the X Layer network for one-stop management of over 140 public chain assets. It also includes aggregation functions for DEX and NFT markets, as well as integration of related on-chain interactions and DeFi protocols, allowing hundreds of millions of users to easily participate in the on-chain economy without specialized knowledge.
Of course, another key aspect of tokenization is compliance, which is also the foundation for Coinbase in the U.S. OKX has obtained compliance qualifications in over 20 core markets globally. After the EU's MiCA regulation officially took effect, OKX became one of the first institutions to obtain a compliance license and also received a financial services license from the Dubai Virtual Assets Regulatory Authority.
Because of its compliance, OKX has become the preferred partner for traditional financial institutions to access the on-chain ecosystem. As for which player in the crypto industry will take the lead in tokenization, it seems that time will tell.
As Star mentioned, the reason blockchain stands out is that it breaks through the limitations of legacy systems from the internet era. It provides a trustless programmable storage infrastructure, enabling around-the-clock, instant global value flow.
Boston Consulting Group predicts that by 2033, the total scale of global tokenized assets is expected to reach $18.9 trillion.
Even Jamie Dimon, the CEO of JPMorgan, who once despised Bitcoin, recently stated in an interview that blockchain, tokenization, and stablecoins are real technologies that are enhancing financial efficiency.
The concentrated voices of these industry leaders may hint that the prophecy of 50% of global economic activity moving on-chain is not far off.
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