Larry Fink, CEO of BlackRock, emphasized the need for the United States to accelerate its progress in tokenization and artificial intelligence (AI). He highlighted that converting assets into digital forms could help reduce barriers within the financial system. Fink also noted that the US is lagging behind countries like India and Brazil in the digital economy. Tokenization refers to transferring traditional financial or non-financial assets onto blockchain or other digital platforms as digital tokens, facilitating easier trading and transactions. This process can enhance financial transparency, liquidity, and create new investment opportunities. BlackRock, one of the world’s largest asset management firms, wields significant influence in global financial markets. Fink stressed the importance of strengthening the US digital economy strategy to remain competitive in the global technology race. Additionally, he called for increased research and development in AI to bolster the financial system and improve customer services. While the US has made considerable progress, Fink advised that government and industry collaboration is essential to keep pace with rapidly advancing countries, ensuring the nation’s economy aligns with future technologies and maintains its prominence in the global financial system.
Source: binance
