The payment company circle’s CEO, Jeremy Allaire spoke this morning of the “never before seen” crypto revolution in his words “this is just the beginning of the tokenization process of everything”.
In real sense, he meant that blockchain is now ready to transform every aspect of finance and also positively impact on all sectors of the economy.
The CEO also listed out the advantages of a tokenized global economy in which “every form of value storage and public record becomes a crypto token” which has to do free-floating market value and is tradeable on global digital exchanges.
He also said that “a house, car or act” Can be tokenized with crypto-asset, global financial relationships can be established around any physical property.
An immutable system that is transparent and accountable is been geared by the “tokenization of private or public votes in all forms of social governance.
He (Allaire) also classified all crypto-asset. First he said was privacy-focused crypto asset whose duty is to make sure that the decentralized control of governments are completely removed and to ensure that it serves a public purpose on the internet.
Other categories of CRYPTO-ASSET he mentioned about were:
— crypto-security: crypto-assets that support transaction settlements system(e.g ripple and stellar)
— fiat-backed stable coin.
It was just last month when the company(circle) closed a $110mln fund raising round. Their USDC will be an ERC-20 wallet
