While innovation remains common ground for the cryptocurrency ecosystem, leading entrepreneur Brock Pierce featured in a Two Prime interview to give his take on the latest happenings within the landscape. Speaking about the emerging innovations, Pierce mentioned that he was “a big fan of security tokens” while highlighting his involvement in creating the first of its kind security token named BCAP.
Adding to it, Pierce stated,
“We are only now (this year) starting to see the first security token exchanges in place. By next year, we probably will have a sufficient amount of infrastructure, enough competitive operations, that we’re not reliant on one player in the world.”
In comparison with the current financial market, Pierce speculated that financial products such as venture funds and private equity funds will not participate in cryptocurrency’s mass adoption. He added that such financial bodies will not be willing to tokenize their current offerings, mainly because it would not generate more income.
On the contrary, the entrepreneur mentioned that the new entrants including startup funds will lead this initiative, and have a leading edge by offering shorter liquidity and more transparency. Pierce also envisioned to “tokenize intellectual property as security tokens” wherein the general public would be allowed to invest in various art forms including Broadway plays, record albums and movies. Hinting towards the project’s near completion, he said,
“I don’t think we’ve announced the launch dates but I think the concept of tokenizing security tokens for intellectual property around entertainment is going to be fully enforced next year. I think that we will onboard hopefully tens of millions of users to the entertainment business.”
Arijit is a full-time journalist at AMBCrypto,