Blockchain technology continues to gain recognition and traction in the financial world as it addresses very large Total Addressable Markets (TAMs), according to Roger Bayston, Head of Digital Assets at Franklin Templeton. Bayston remains optimistic about the potential rewards for crypto investors, despite recent legal actions taken by the U.S. Securities and Exchange Commission (SEC) against major platforms such as Binance and Coinbase for violating securities laws.
Bayston believes that as the regulatory environment becomes clearer, there will be continued innovation in software protocol development platforms related to cryptocurrencies. He emphasizes that this innovation will not be limited to Bitcoin and Ethereum, but will extend to other blockchain applications.
Franklin Templeton, the investment firm, has already established two blockchain investment funds and developed a consumer app that enables browsing of tokenized securities and cryptocurrencies. Additionally, the company has launched the OnChain U.S. Government Money Market, a registered mutual fund operating on two blockchains: Polygon and Stellar.
Bayston’s bullish outlook on blockchain technology stems from his belief in the future of the digital and data-driven economy, in which blockchain will play a central role. He envisions blockchain’s transformative impact on capital markets and asset management. In an interview with CNBC, Bayston stated that blockchain protocols aim to address large TAMs, where public databases can reduce the friction caused by inconsistencies between different databases.
While Bayston expresses optimism, it is worth noting that not all crypto analysts share his sentiment. On the same day, Rekt Capital, a prominent crypto analyst, predicted further downside for Bitcoin (BTC).
In conclusion, Roger Bayston, Head of Digital Assets at Franklin Templeton, believes that blockchain technology has the potential to revolutionize various industries, particularly capital markets and asset management. Despite recent regulatory actions and market volatility, Bayston remains confident that crypto investors will be rewarded for their patience. As blockchain continues to address large TAMs, it is clear that its transformative impact on the digital economy is just beginning to unfold.
