The tokenization of the world and the Book of Life
BlackRock wants to tokenize the world. Will the blockchain become a "Book of Life"?
BlackRock, one of the largest investment management companies in the world (approximately $39 trillion), aims to tokenize the world. This means converting ownership titles of various assets, such as bonds and stocks, as well as real estate and much more, into digital tokens on a blockchain.
In terms closer to the crypto culture, BlackRock wants to transform everything of economic value into NFTs.
Tokenization is an extremely profitable business that promises to innovate the entire investment sector by leveraging the capabilities of transparency and notarization of the blockchain. In the not-too-distant future, everything we can see and touch, as well as everything that exists in the digital realm, could have a cryptographic label telling its story on an endless, immaterial universal ledger.
Setting aside, albeit relevant, the theme of these financial giants wanting to own and manage both the tangible and intangible world on behalf of others, there are some reflections to be made on the topic.
I believe that this desire for hyper-tokenization is a digital manifestation of the hyper-rationalization of our society, which has been unrelentingly progressing for several centuries. I do not think this is a good thing, and I will try to explain why.
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