Why is tokenization inevitable? The Maitong research team did a great job comparing tokenization with traditional finance. 'Securities are increasingly migrating from traditional (i.e., "off-chain") databases to blockchain (i.e., "on-chain") ledger systems. On-chain securities also have the potential to reshape various aspects of the securities market, including issuance, trading, holding, and utilization. For example, on-chain securities can enable automatic dividend distribution through smart contracts; tokenization can also enhance capital formation by turning previously illiquid assets into tradable investment opportunities. Blockchain technology is expected to expand the new use cases for securities, giving rise to market activities that many existing SEC rules never envisioned.' These are the words of SEC Chairman Atkins himself.