Paul Atkins, the chairman of the U.S. Securities and Exchange Commission (SEC), stated that the financial markets in the United States are preparing to enter a historic transformation phase over the next two years, with a rapid shift towards the comprehensive adoption of blockchain technology.
In an interview with Fox Business, Atkins explained that the transition to a financial architecture based on digital assets and the digitization of markets is no longer a long-term project extending over a decade, but has become a reality approaching at an unprecedented pace.
Tokenization... the heart of the upcoming revolution
Atkins confirmed that the next phase will be based on the concept of tokenization, which means converting traditional assets and stocks into digital tokens that can be traded across blockchain networks, opening the door to:
Higher levels of transparency in asset movements
Improving risk management thanks to data accuracy
Accelerating settlement processes and reducing bureaucratic complexities
Expanding the scope of innovation in financial products
A radical transformation in the American financial system
According to Atkins' statements, the spread of blockchain in American markets could lead to a complete reshaping of the financial system, with institutions moving towards more efficient and secure digital operations.
These statements indicate that the United States may be on the verge of adopting one of the largest technological developments in the history of its financial markets.
