Speaking in a conference room of finance professionals, BlackRock executive Joseph Chalom said the tokenization of stocks, bonds and other traditional assets will happen, but “slower than people expect.”
Chalom, Head of Strategic Ecosystem Partnerships at BlackRock, took a measured stance against the excitement at the Coinbase cryptocurrency summit in New York.
While listening to other investment experts, Chalom stressed that true institutional adoption of blockchain technology will not be possible until know-your-customer (KYC) and anti-money laundering practices are accepted and implemented across DeFi.
Chalom states that DeFi has been criticized by some for its new approach to matching buyers and sellers. But this isn't the main obstacle to mass adoption, according to Chalom:
“This is just a cover. We need to have a clear understanding of who is in the pool.”
To that end, Chalom pointed to the recently announced Uniswap v4. The new version of Uniswap, the largest decentralized exchange in crypto, will allow developers to build their own exchange on top of Uniswap:
“You may have seen our friends at Uniswap release the fourth version. If you read carefully, there is almost the possibility of creating a permission pool, a permission contract with a group of people. This is a step forward.”
*Not investment advice.
