According to Aly Madhavji, founder of the BlackChain Founders Fund, BlackRock CEO Larry Fink is considering how to shift “trillions of dollars” to blockchain.
“We’re talking to Larry Fink of BlackRock about how many trillions of dollars are going to be moved to the blockchain,” Madavji said. “I would recommend that you make this actually effectively democratize. It’s actually very exciting to see this type of technology really come into the market.”
Rob Nelson of Roundtable Host pointed out how people are happy with intermediaries in their finances, from ETFs to central exchanges. But will direct control become standard?
Jack Knutson, head of BD at Symm Protocol, believes that traditional finance consists of a way of forcing users to opt out rather than opting in to control assets.
“If you need to opt in, everything will be opted out. You will need to opt in to the privacy policy or terms of use you wish to participate in,” he said.
For Knutson, the advantage of on-chain finance is that it allows market makers to create their own trading environments, rather than following strict rules determined by platforms such as Dydx, GMX, and high lipids.
“When they come and create a market for us, they want how much collateral they want in advance, the amount of margin, which markets, what they want to offer lasting, they want to do, they can choose the option If you want to provide, it can determine that the solver is fully open and decide what they want to provide to the trader.
Nelson compared the shift to platforms such as Airbnb and Turo. This disrupts the traditional rental market by allowing direct transactions between users. But why is finance behind?
Madhavji believes the industry is too early to fully embrace tokenized assets, but it is now at a turning point.
Symm’s Knutson sees this as the beginning of “open finance.”
“These markets are open 24/7. We’ll see that inventory, Forex and options will move on-chain. It’s only a matter of time before a major player like JP Morgan gets online.” He said. “The fiscal future is driving the on-chain and Symm is a big step towards that.”