Investment strategist William Peets has pointed to a widespread underestimation of the deflationary impact of cryptocurrencies such as Bitcoin and blockchain for global finance.
Peets is currently CIO and portfolio manager for digital asset strategies at Passport Capital.
In an Oct. 30 interview with Real Vision Finance, he said that blockchain represents a generational change in technology with profound implications for the existing financial system — something that most have been too slow to recognize.
Redressing macro imbalances
Finance is ripe for disruption by crypto and blockchain, Peets said, noting that application of the technology will eat into the monopoly power of traditional financial services incumbents:
“Security issuance, tokenization of real assets, trading of those assets, custody-all those things can potentially be done in a more efficient manner with distributed ledger technology. And that shrinks the margins of the likes of a State Street or Northern Trust, or these traditional banks and incumbents, again, which is all deflationary.” Read More...