Tokenization Is Likely to Transform Infrastructure and Financial Markets: Bank of America

.BankofAmerica says tokenization could transform financial and non-financial infrastructure and financial markets over the next five to 15 years. willcanny99 reports.

Tokenization is just one application of blockchain technology, but it’s the one that could transform financial and non-financial infrastructure and financial markets over the next five to 15 years, Bank of America said in a research report Thursday.

Bank of America notes that disruptive technology like radio, television and email took thirty years to reach mainstream adoption. It expects a much shorter lag for digital assets. “Distributed ledger technology and tokenized traditional assets aren’t ‘crypto,’” the report said, adding that “blockchains record ownership of the 26k+ tokens that exist within the digital asset ecosystem, but we expect 99% of those in existence today to essentially disappear over the next ten years.”

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