Raoul Pal|11月 07, 2026 15:10
Blockchain came with a token attached, so we decided the token was the product. It never was. Chains are infrastructure.
Nobody knows what database their brokerage runs on. Nobody knows what internet theyre on. It just works, so you dont ask. Thats where this ends up. Youll buy an equity and have no idea its on chain, and youll never need to.
Which is why the financial system coming in is a good thing. Crypto is still hard to use and they tighten all of that up.
Convergence is the answer.
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