Blockchain, Tokenization, and Implications for Financial Services Practitioners

Abstract

Blockchain technology represents perhaps the most powerful and transformative technology to enter the financial services landscape in the last several decades according to both practitioner commentary and academic research. While much has been written and analyzed about blockchain terminology and definitions, however, more recent applications and developments potentially hold more both challenges and opportunities for the financial services industry. This research examines the area of tokens, tokenization of physical assets, and the implications this continued shift and development has for both practitioners and academics. Lastly, and after examining implications of blockchain in general for the profession, key questions and considerations are presented for practitioner consideration moving forward. Written with both practitioners and academics in mind, this research covers emerging topics of concern, and recommends possible steps toward resolving several outstanding questions in the blockchain space.