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Recently, Paul Atkins, chairman of the U.S. Securities and Exchange Commission, said that it is expected that within the next two years, the entire U.S. financial market may migrate to the blockchain that supports Bitcoin and cryptocurrency.
Paul Atkins commented in an interview with Fox: The next change will come from digital assets, that is, the digitization and tokenization of the market.
According to the annual economic report previously released by the Bank for International Settlements, 90% of the world’s central banks are actively exploring tokenized deposits, and more and more traditional financial institutions are joining the tokenization wave.
In addition to the layout of traditional giants, large organizations native to the Web3 industry are also investing in the on-chain economy.
OKX CEO Star was recently invited to attend the Abu Dhabi Financial Week and said that the Internet generation is creating a new on-chain economy. In the next few decades, about 50% of the world’s economic activities will run on the blockchain.
So how does OKX lay out the on-chain economy? After all, Coinbase’s strategy is to build a “everything exchange”, BN’s strategy is to intervene in the chain through Alpha, and OKX has proactively built a service system that adapts to the on-chain economy.
Yesterday, Op issued a document saying that OKX reconstructed the zkEVM L2 network X Layer based on OP Stack.After the overall upgrade, not only has TPS stabilized at more than 5,000, but it has also been fully compatible with EVM. It not only protects transaction privacy through zero-knowledge proof technology, but also ensures security through on-chain verification, which has laid a solid foundation for the development of the on-chain economy.
The product uses OKX Wallet as the ecological entrance, which not only integrates the X Layer network to achieve one-stop management of 140+ public chain assets, but also includes the aggregation function of DEX and NFT markets, and integrates related on-chain interactions and DeFi protocols, allowing hundreds of millions of users to easily participate in the on-chain economy without professional knowledge.
Of course, another key to tokenization is compliance, which is also the foundation of Coinbase in the United States, and OKX has obtained compliance qualifications in more than 20 core markets around the world.After the EU MiCA Act officially came into effect, OKX became the first institution to obtain a compliance license and also obtained a financial services license from the Dubai Virtual Asset Regulatory Authority.
Because of compliance, OKX has become the preferred partner for traditional financial institutions to access the on-chain ecosystem.As for who in the encryption industry can take the lead on the road to tokenization, it seems that it still needs time to test.
As Star said in his speech, the reason why blockchain stands out is that it breaks through the limitations of legacy systems in the Internet era.It provides trustless programmable storage infrastructure to enable 24/7, instant global value flow.
The Boston Consulting Group predicts that the total scale of global tokenized assets is expected to reach US$18.9 trillion by 2033.
Even JPMorgan CEO Jamie Dimon, who once hated Bitcoin, said in a recent interview that blockchain, tokenization and stablecoins are real technologies that are improving financial efficiency.
The intensive voices of these big guys may be hinting to us that the prediction that 50% of global economic activities will be on the chain is not far away.
