Real Vision CEO calls the most undervalued sector of the crypto market
Raoul Pal believes that in the future all agreements and contracts will be tokenized and presented as NFTs
07.11.2022 - 10:45
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What’s new? Raoul Pal, a former executive of the investment bank Goldman Sachs and Real Vision TV CEO, believes that non-fungible tokens (NFTs) could change almost all aspects of public infrastructure, although they are now mostly used only in the cultural sphere. The macroeconomist noted that in the future, any documents and contracts could be tokenized and presented as NFTs, including identity cards, insurance, real estate transactions, contracts for the supply of goods and medical records. He explained that it is efficient, cheap, fast, and secure.
It's Friday, wine night and time to write a thread on NFT's, inspired by my chat on @RugRadio. I think people are massively underestimating what is going on... and its only (very) partially to do degening with monkey jpegs and dickbutts... — Raoul Pal (@RaoulGMI) November" class="redactor-linkify-object">https://twitter.com/RaoulGMI/status/15887026486177... 5, 2022
What else did Pal write? According to the expert, the entire financial industry, including funds and asset management activities, may eventually be forced to integrate with NFT and blockchain technology because it will speed up its operations and increase transparency. Pal emphasized that the smart contract of NFTs involves automatic execution or dispute resolution. In addition, mass tokenization will create liquid secondary markets.
Earlier, Pal said that within 10 years, the crypto market capitalization could reach $200 trillion and the number of cryptocurrency users will increase to 4-5 billion due to the mass implementation of CBDCs. In October, the expert updated his prediction, saying that the market capitalization will grow to $300 trillion over 10-15 years.
In early October, billionaire Mark Cuban said that NFTs could be a great substitute for some books, especially textbooks. He explained that NFTs would help students recoup money for resold books and allow authors with publishers to receive a set royalty fee.
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