CEO of the financial firm Franklin Templeton recently predicted that blockchain is set to host all the ETFs and mutual funds. She further stated the investors about the perceived dangers of generative AI likening it to a child that always got “F” in mathematics.
The executive named Jenny Johnson, who is serving as the CEO and president of Franklin Templeton recently shared her pro-blockchain stand.
She was speaking with interviewers on Bloomberg. The program was hosted by David Westland for the 27th Annual Milken Institute Global Conference in California.
Applications of Generative AI Products
She mentioned two important topics that were discussed during the event. She shared a considerable amount of insights about the tokenization sector and shed light on the utility of generative AI projects in the blockchain sector.
In response to a question about her firm amassing gains from tokenization, she responded with claiming that she was a big fan of blockchain and its underlying technology. She then stated a scenario when a firm used traditional software and blockchain for maintaining financial records as comparative analysis for 6-8 months.
As per the executive, the results for blockchain were positive and she shared that her team was astonished by the cost-saving capabilities of the decentralization network.
Advantages and Applications of Blockchain
Speaking on the matter she further noticed that blockchain is a very efficient technology. She shared that her team is working on launching a slew of new investment opportunities in blockchain and eventually all ETFs and mutual funds are going to be hosted on a blockchain network.
She mentioned that the main reason for the shift to the new tech was the importance of cost savings.
The expense of data disparity is narrowed by a blockchain network since it was specifically designed to solve this problem.
The CEO claimed that financial institutions still need to verify data for external platforms after data reconciliation is performed in-house. She further noted that in the case of blockchain, there is only truth by design.
Speaking on the matter she further noted that monetary and temporal savings may pave the way for diversified investment opportunities.
At the same time, she cited the example of pop singer Rhianna who released an NFT collection that allowed the investors to gain the ownership of a tiny percentage of the royalties for one of the songs issued by the artist using smart contracts. Johnson has talked about various utilities and practical use cases of blockchain at several occasions before.
The Impact of Generative AI on the Blockchain Sector
On the question of generative AI and its role in blockchain sector, the executive admitted the importance of the protocol. She however retained that it was like a child who always got an A in English while getting an F in mathematics. The CEO further stated that Franklin Templeton has also partnered with an AI-powered sales assistant that was built by Microsoft.
She retained that there have been investment opportunities within the sector. At the same time, she applauded the potential of AI-powered translation services that will bridge the gap for internationally operating financial services providers.
Another Cointelegraph article reported that Base, a SocialFi platform backed by Franklin Templeton. The firm recently issued a statement noting that Base season has arrived amidst the rising demand for SocialFi apps.
The firm further stated that Base has become the leading layer-2 application hosted on the Ethereum blockchain. The firm also noted that the platform has quickly captured a major portion of SocialFi market and intends to remain as the leading layer-2 application on Ethereum going forward.
The report issued by the asset management firm also stated that about 46% of all SocialFi transactions processed on Ethereum go through Base. The report also included infographics to indicate that Base has captured a major market share of BNB Chain and Polygon.
