There are not so many people who believe in the future of security tokens like Patrick M. Bryne CEO of famous internet retail company Overstock.com.
Bryne has already founded a leading security tokenization startup, tZero but took matters into his hand to convince shareholders of his first company, Overstock, that security tokens would rule the future.
In a recent letter that the CEO shared with stakeholders, he made his case for security tokens saying that “100% of the stock and bonds on Wall Street token could be tokenized, and in five years 100% of the stocks and bonds on Wall Street will be tokenized.”
He didn’t stop at that but went ahead to provide a possible prediction on how exchanges that let investors trade security token will benefit soon.
Bryne wrote in the shareholder letter,
“If those $500 trillion in assets get tokenized, and if the exchanges that trade the tokens follow the 0.18% valuation rule, then the value of security exchanges globally will be $500 trillion x 0.18% = $ 900 billion.”
He was also quick to point out that despite the arguably compelling arithmetic for the security token exchanges, he cannot accurately predict “the value of security token exchanges is going to be in five years.”
Without a doubt, Bryne’s decision to share his optimism on the future of security tokens with his shareholders could have an impact on encouraging these flock of investors to step into the fast-growing space.
Meanwhile, Stmarket.co reported earlier this week, that Da Vinci Capital is another company that has embraced the concept of security tokens. Da Vinci has tokenized part of its 8% shares in the ride-hailing company, Gett Taxi and place these ownership rights on sale on the OKONTO platform.
That move surprisingly comes, amid reports that Gett Taxi could go public next year.