Enterprise software company Oracle (ORCL) in recent days formed a partnership with an outfit that will strengthen its blockchain-related services, and Bank of America launched a cryptocurrency research team — the latest signs of major firms embracing decentralized finance.
Blockchain can claim another believer among the nation’s top financial institutions in Franklin Templeton (BEN) CEO Jenny Johnson, whose fund manages more than $1.5 trillion in assets.
Johnson told Yahoo Finance in a recent interview that blockchain technology will be “hugely disruptive,” eventually allowing everyday people to place small investments in otherwise inaccessible assets like major real estate projects. But she acknowledged that she is not “a big fan” of bitcoin (BTC-USD), citing the cryptocurrency’s volatility.
“The tokenization and blockchain are going to be hugely disruptive to the financial services industry,” she says. “We are at the very, very early stages of that.”
“I’m not even sure folks completely understand how disruptive that could be,” she adds. “It is something I’m spending a lot of time on — my team is spending a lot of time — just trying to think about and understand.”
Blockchain, a digital ledger that records transactions without a centralized manager, enables the sale and acquisition of assets like cryptocurrencies or non-fungible tokens, also known as NFTs. The technology has gained notoriety as the backbone behind the widely known…
