Today at the World Economic Forum (WEF) in Davos, David McKay the CEO of the Royal Bank of Canada (RBC) revealed that the bank is experimenting with blockchain for tokenization, perhaps even private equity. He was talking during the “Automated Markets” panel.
Adena Friedman, the CEO of Nasdaq had commented that retail stock investors have never had it so good. They benefit from low costs, low spreads and near instant execution at competitive prices. There was one area where she sees room for improvement, and that’s private equity. “If you’re an average person you’re not getting access to some great private companies,” said Friedman. “And that’s one disadvantage that I’d like to see change over time.”
“That’s where blockchain comes in,” interjected RBC’s McKay. “We’re experimenting with taking an asset and breaking it into smaller pieces and registering that in a decentralized register called blockchain. You can take an asset or even a company and create a unit on a decentralized blockchain and then sell that into the marketplace.”
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