#CryptoRoundTableRemarks widely 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 remember, this is a movie starring Kevin Costner as Ray Kinsella, a farmer who, inspired by a mysterious voice, plows his cornfield and builds a baseball diamond, 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 recently introduced, [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 accommodate 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 brought by blockchain.