**[The Davos Debate on "Tokenization": Technological Dividends Expected, Sovereignty and Regulation More Challenging]** Odaily Planet Daily News – As AI nearly "dominated" the entire World Economic Forum Annual Meeting in 2026, virtual currencies, once a hot topic in Davos, have returned to the spotlight. Representatives from traditional banks, regulatory agencies, and crypto industry leaders engaged in a heated and in-depth debate on whether tokenization is on the verge of an explosion, how digital currencies are reshaping the boundaries of sovereignty, and the trust foundation of the financial system: 1. Coinbase CEO Brian Armstrong pointed out that tokenization addresses the efficiency challenges of the financial system, enabling real-time settlement and reducing costs. However, its core strength lies in the "democratization of investment access." 2. Euroclear CEO Valérie Urbain views tokenization as an "evolution of financial markets and securities," which could shorten issuance cycles, reduce issuance costs for issuers, and potentially help markets "reach a broader range of investors," playing a role in "financial inclusion." 3. François Villeroy de Galhau, Governor of the Bank of France, argued that increasing investment opportunities must go hand in hand with improving financial literacy; otherwise, tokenization could evolve into a disaster. 4. Standard Chartered Group CEO Bill Winters bluntly stated that while achieving tokenization of the majority of transactions by 2028 may be slightly optimistic, the direction of "most assets ultimately being settled in digital form" is irreversible. 5. Ripple CEO Brad Garlinghouse quoted former Federal Reserve Chairman Ben Bernanke, saying that governments will not relinquish control over the money supply. Ripple's current strategy leans more toward building a bridge between traditional finance and decentralized finance rather than challenging sovereignty itself. (Source: Caixin)