Robinhood CEO Vlad Tenev predicts that stocks and other traditional financial (TradFi) assets will eventually move on-chain, just like cryptocurrencies. In a recent interview with investor Anthony Pompliano, Tenev stated that the efficiencies provided by blockchain technology will make its adoption by traditional finance inevitable.
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He also predicts that U.S. President-elect Donald Trump and his administration will implement policies that will accelerate the transition to on-chain systems for stocks, private companies, and real-world assets (RWAs) through tokenization.
“What will happen is traditional equities – and I believe this will be expedited by the new [Trump] administration – will move onto blockchain rails, along with various other real-world assets. You will see private companies moving to blockchain as well. Once public companies are on the blockchain, we’ll need to figure out what it means to actually go public and list on a blockchain, as opposed to a traditional stock exchange. I think we’ll have to work that out, and this will also open up private markets. What you gain is interoperability.
I don’t know if you’ve tried transferring stocks from a legacy discount broker to Robinhood, but many people do it, and it’s very, very painful. And by the way, the big brokerage houses don’t want to make it easy. They want to keep those assets where they are, so they place all sorts of non-technical barriers. But compare that to how easy it is to move dollar stablecoins or Bitcoin from your MetaMask wallet to your Phantom or Robinhood wallet; everything just works because the underlying infrastructure of the assets and transactions is all public.”
Tenev believes that on-chain transactions are the logical next step in the evolution of TradFi processes, as they would simplify and streamline them.
“You won’t need transfer agents, central clearinghouses, or payment processors. All of that is replaced by software. My view of crypto is that it represents the next step in the evolution of financial infrastructure. It started with pen and paper and filing cabinets, then moved to mainframes, on-premises systems, and the cloud. Crypto is just the next layer, where you’ll see traditional financial services on crypto rails. They’ll be easier to use, better, more interoperable, and I think the U.S. will have to adopt it. The efficiency gains are simply too high to ignore.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should perform due diligence before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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