Ethereum Firebrand Raoul Pal Says Traders Are Massively Underestimating One Sector of Crypto


Former Goldman Sachs executive Raoul Pal says the potential of one crypto sector is being massively underestimated by everyone.

In a lengthy Twitter thread, Pal tells his 984,000 followers that non-fungible tokens (NFTs) could reshape almost every aspect of societal infrastructure.

The Real Vision founder says that currently, most people think NFTs predominantly pertain to cultural purposes, such as art, community or brands. However, Pal says this is only the tip of the iceberg.

“While the tokenisation of culture is almost infinite and has only just started, most people miss the even bigger picture…

ALL contracts will get tokenized as NFTs as they more efficient, cheaper, faster and more secure.

ALL: ID, tickets, reservations (hotels, airlines, trains, restaurants etc), all insurance contracts, internet permissions, hotel keys, car documents, real estate, certifications…

advertising, supply chain contracts, inventory management, business deals, driving licenses, medical records, employment history, references, etc etc… but it gets even bigger…”

The macro expert says that the entire financial industry – quadrillions of dollars worth of value – could ultimately be forced to integrate with NFT and blockchain technology.

“The entire financial industry is based around contracts at a truly VAST scale – too big for the old City of London ‘My Word is My Bond’ system to work and a two party, audited ledger/database….

There are somewhere between $650 trillion and $4 QUADRILLION of derivatives, $250 trillion of equities, same in bonds, etc. These are all non-fungible contracts of sorts (some are large and some are one of ones like a special over-the-counter option)..

All asset management and funds will be tokenized too. It is much faster, accessible, transparent and more efficient.

AND the ‘smart’ element of NFTs mean that enforcement or dispute resolution is automatic, cheaper and faster, as is ‘storage or ownership.’”

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Vadim Sadovski/Angela Ksen





Read More: Ethereum Firebrand Raoul Pal Says Traders Are Massively Underestimating One Sector of Crypto

2022-11-06 07:31:08

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More