It is easy to take some shitty token like GirderCoin and criticize it, but what about tether and other stablecoins? Those are centrally issued tokens that seem to have demand and userbase.
"But until that happens, tokenization of assets seems likely to remain the province of professionals, and “be your own bank” merely a lovely dream."
Well, everyone can hold these tokens and "be their own bank" already with bitcoin and stablecoins, however just not that many might want it. To me it looks like the author is mixing up the technology and business demand. The token technology seems to work robustly, there have been some somewhat successful tokens issued (stablecoins). Still everything is quite miniscule compared to mainstream economy. Whether tokens will be significant technology remains to be seen.
Too add to tokenization problems, for example, I have seen something about selling a portion of you home's equity. This, to me, seems like a way to extract wealth from those who are desperate and end up like the subprime debacle
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[ 3.5 ms ] story [ 14.0 ms ] thread"But until that happens, tokenization of assets seems likely to remain the province of professionals, and “be your own bank” merely a lovely dream."
Well, everyone can hold these tokens and "be their own bank" already with bitcoin and stablecoins, however just not that many might want it. To me it looks like the author is mixing up the technology and business demand. The token technology seems to work robustly, there have been some somewhat successful tokens issued (stablecoins). Still everything is quite miniscule compared to mainstream economy. Whether tokens will be significant technology remains to be seen.