During a recent event, the Bank of England’s Sarah Breeden emphasized that the future of tokenization has many potential outcomes, but both extremes of the bell curve feature incumbents failing to deliver. The Head of the BIS Innovation Hub, Cecilia Skingsley, had the opposite concern – will incumbents keep all the benefits to themselves or will they be passed on to consumers? The IMF’s Don He believes the global financial community has put significant effort into creating a coherent global network. Tokenization risks fragmenting that, even beyond geopolitics.
This might imply that they don’t see the benefits of tokenization. On the contrary, they demonstrated considerable optimism during an excellent Swiss National Bank panel. “My sense is that we may be on the cusp of widespread and more fundamental change (for payments),” said the Bank of England’s Deputy Governor Sarah Breeden.
Ms Breeden contemplates an array of potential tokenization outcomes.
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