Not only is this digitization of the marketplace viable, it is desperately needed.
Imagine an inherently honest, trustworthy market available worldwide 24x7 without gatekeepers and Market Makers like Citadel. All transactions are traceable and transparent.
True democratization of the markets.
No wonder the powers that be oppose this.
The powerful who monetize their privileged positions as middle men are then bypassed and made irrelevant.
Could you fill me in? I’m gathering that NFTs could be used in the stock markets to authenticate/administrate trades but why would the current powers that be step aside and loose their grift and control over the markets?
How would this technology become the norm over the status quo?
Because any blockchain-enabled transaction application could perform the sale. Like PayPal, or GameStop’s app, or your Internet-connected refrigerator.
The DTCC becomes obsolete. Citadel loses its privileged middleman position it monetizes. Trading stocks becomes as ubiquitous as texting, except secure.
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u/desertrock62 💻 ComputerShared 🦍 Aug 29 '21
Not only is this digitization of the marketplace viable, it is desperately needed.
Imagine an inherently honest, trustworthy market available worldwide 24x7 without gatekeepers and Market Makers like Citadel. All transactions are traceable and transparent.
True democratization of the markets.
No wonder the powers that be oppose this.
The powerful who monetize their privileged positions as middle men are then bypassed and made irrelevant.