The blockchain technology is finally having its full-circle moment as the Trump-driven government continues to support the domain. In a recent interview, Paul Atkins, the US SEC chair, shared his striking prediction, stating how the US markets are in line to be fully migrated to blockchain within the next two years.
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US SEC Chair On US Markets Blockchain Revolution
A new video interview of the US SEC chair, Paul Atkin,s has surfaced online, in which he can be seen talking about how the US markets are now betting big on blockchain technology. Atkins, in his interview with Fox News, shared how he thinks tokenization is the method for financial markets to evolve from now on, predicting that the US markets may go fully blockchain-based in the next two years.
“Retail investors, as we call them, are really important. But that has shifted. Things have shifted. And so the markets are faster now and very dynamic, obviously, and they’re global. So that whole thing and now the next step is coming with digital assets and digitization and tokenization of the market. And that’ll bring, I think. Huge benefits to come with respect to decreasing risk and making things much more predictable and transparent on-chain.”
Explaining the idea of tokenization in depth, Atkins stated how this method may help bring in more transparency in the domain.
“Well, so tokenization is the idea of using, then, smart contracts or, you know, tokens on-chain to be able to represent, say, underlying security. And so, then, that tokenized security is a security and would be subject to SEC rules by law. But the idea is that if it’s on-chain, on a blockchain, then there’s much more transparency as to where it is.”
US Markets Tokenization by 2027
Atkins was quick to emphasize how he is expediting tokenization and that the domain can fully embrace blockchain at the latest by “a couple of years from now.”
“Maria: Do you expect this is where financial services are going? Are the major banks and the brokers out there today moving increasingly toward tokenization? Atkins: Oh, absolutely. And it’s the way the world will be, you know. Hearing that, I mean, maybe not even in 10 years, maybe even a lot less time, maybe a couple of years from now.”
Atkins was quick to add an update about the innovation exemption in the sector, stating how this method may allow companies to innovate within the “parameter of time and space.”
“We’re going to allow then what we’re calling an innovation exemption, which we will unveil, you know, I’m planning next month. That innovation exemption will allow companies to experiment within parameters of time and amount of people and customers and investors and amount of money to have a proof of concept and then to go forward and then get the type of certainty they need from the SEC to go forward and develop their product and market it. We need to give investors and innovators, you know, the certainty and a framework under which they can either invest or, you know, obviously on the innovator side, develop their products and then see how they can prove their concept to see whether or not it’s taken up by investors or not.”
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