Raoul Pal: NFT Will Disrupt Global Financial System and Business Models
According to Raoul Pal, widely-respected macro guru and the CEO of Real Vision non-fungible tokens (NFTs) will restructure finance and global business operations.
In a recent interview published on Real Vision, Pal lays out a case for non-fungible tokens (NFTs), claiming that the breakthrough of tokenizing real-world assets will completely reshape the way we conduct business.
“Basically, I have for a long time been talking about [how] we can tokenize everything conceptually. NFTs were the breakthrough. That was the token that you can tokenize anything on…
What does this all mean? It basically means the breakthrough has been made to attach intellectual property, or physical assets, or digital assets, to a blockchain in a method that is transferable, instantaneously, to anybody, and storable, and proven in its store.
So, using that, you can limit scarcity and also imply smart contracts. So the multiple uses of this are, almost – we can’t think them through. It’ll change everything from the insurance business to the real estate business. It’ll probably change everything from how we notarize things, to the art world, to the music world, to how businesses are built using community tokens, which are basically a variation of NFTs.”
The macro analyst highlights that the growing crypto sector is showing huge potential to change the financial markets.
“This is going to really break everything. I think the securities market will be attached to tokens, NFTs. I think we will find all financial instruments will go that way, because why? We can settle instantaneously, we can trade 24 hours a day, and it doesn’t cost anything to do it.”
While everyone thinks decentralized finance (DeFi) is the big breakthrough, Pal is less excited by DeFi, and believes the NFT space is where the true innovation lies.
“When I look at NFTs, that’s when I get really excited. And again, I’m not talking about collectibles. I’m not really interested in that market, other people are, and it’s very interesting, but it’s not for me. What I’m interested in is a disruption of global business models, supply chains, and all of the things that can come with NFTs, and a change in the entire financial system that could be attached to this technology.”
