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All investment funds move to the Blockchain
Jenny Johnson, CEO of $1.6 trillion asset management giant Franklin Templeton, said that all exchange-traded funds (ETFs) and mutual funds will migrate to blockchain technology sooner or later.
Speaking at the recent Milken Institute global conference, Johnson was extremely optimistic about blockchain’s potential to transform the financial sector. His company conducted an experiment processing account records in parallel using traditional and blockchain methods for several months.
“It’s a very efficient technology and we think it will open up a lot of new investment opportunities,” Johnson revealed. He emphasized that the effectiveness of blockchain as a distributed ledger, which acts as a single source of truth, eliminates the need to duplicate verification across different systems.
According to Johnson, this cost-saving efficiency means that “ETFs and mutual funds will all be on blockchain” in the future. He also argued that a variety of new investment and product opportunities will result from the time and money savings made possible by blockchain.
His company has already partnered with Microsoft to create an AI-powered blockchain sales assistant.
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