#CryptoRoundTableRemarks The topic of today is very broad, perhaps the broadest addressed so far in these roundtables of the Crypto Task Force: tokenization. I understand that much of the debate will focus on potential regulatory initiatives to facilitate tokenization.

This idea brings to mind a famous quote from the movie Field of Dreams: "if you build it, they will come." [1] As you may recall, this is a film starring Kevin Costner as Ray Kinsella, a farmer who, inspired by a mysterious voice, plows his cornfield and builds a baseball field, trusting that great things will come afterward.

I see a parallel with the current enthusiasm around tokenization. Blockchain technology has been around for a long time. [2] And, although several limited use cases have been introduced recently, [3] it has not been widely adopted for the issuance and trading of registered securities. It is argued that if we "build" —or, more precisely, "rebuild"— the financial system to fit blockchain, "they" —all kinds of market participants— "will come" to adopt tokenized securities. Investors will benefit from greater participation and choice, and markets will thrive due to the improvements derived from blockchain.