Whitney Webb, a contributing editor at Unlimited Hangout, has expressed her views on BlackRock CEO Larry Fink's intentions to "tokenize" everything for Wall Street trading. This statement comes in the wake of the U.S. Securities and Exchange Commission (SEC) issuing a public notice that the New York Stock Exchange (NYSE) had withdrawn its proposed rule to approve the creation of "Natural Asset Companies" (NACs) on Wall Street.
"BlackRock's Larry Fink and his tokenization 'revolution' aims to turn practically every living thing into a tradeable, fractionalized Wall Street financial product as part of the push for a global carbon market," said Webb, according to X.
According to an article published by Bitcoin magazine, market influencers like Fink are pushing for a new financial system. The report cites an interview with Bloomberg's David Westin where Fink discusses the concept of tokenizing money into blockchain form. The article suggests that one potential benefit of this system could be the tokenization of Carbon credits, which could incentivize increased carbon reductions. However, it is suggested that Fink’s support for this financial system arises from his ambition to dominate the new financial infrastructure based on blockchain technology.
Twitter Post
| https://twitter.com/_whitneywebb/status/1755232944279417261?s=46&t=lOuPSiSLz8-Wr5k156mCUA
The same article also mentions that tokenization's future will extend beyond just carbon emission credits. It is expected to include Intrinsic Exchange Group’s (IEG) objective to monetize an entire class of natural assets such as clean air and water through NACs. These NACs would sell shares of the assets they have claimed, effectively turning them into purchasable commodities. Despite recent political pressure stalling progress towards NACs advancement in some regions, momentum persists elsewhere globally. The Central African Republic (CAR), for instance, has already taken steps to tokenize their natural resources.
As per a notice from the SEC posted on Jan. 17, 2024, a proposal concerning the integration of NACs into NYSE was redacted. The notice clarifies that the proposal had suggested a "rule change" be adopted by NYSE allowing a "new listing standard" for NACs.
In a Youtube video posted by Bloomberg Television, Fink discusses BlackRock’s future strategy in what he refers to as the "ETF Revolution." He stated, "We believe the next step going forward will be the tokenization of financial assets." He further added that "Every investor, you and I, will have our own number [and] our own identification."
According to the "Unlimited Hangout" website, Webb began her career in professional writing, research, and journalism in 2016. Over the years, she has contributed to various websites and served as a senior investigative reporter and staff writer for "Mint Press News". Currently, she works as a contributing editor at Unlimited Hangout and is the author of a book titled "One Nation Under Blackmail."
