Circle CEO, Jeremy Allaire, is getting ready for the 'tokenization of everything'

13 Oct, 2018
by Joeri Cant
Circle CEO, Jeremy Allaire, is getting ready for the 'tokenization of everything'

Jeremy Allaire, the CEO of Boston-based Circle, spoke to CNBC at the Security Token Academy conference in Manhattan, where he stated that he believes that soon there will be a 'tokenization of everything'.

Last week Circle, acquired equity-fundraising start-up SeedInvest, a licensed broker dealer. A company, that at first sight, has nothing to do with cryptocurrency. However, as Circle founder and CEO Jeremy Allaire explains, SeedInvest can be a cornerstone to his believe that most of the existing financial systems are going digital.

'If we zoom out, there's going to be this tokenization of everything' Allaire said.

'Eventually these marketplaces will have tens of thousands, if not hundreds of thousands of assets, so the next piece was a broker dealer, licensed and ready to go.'

The CEO of CIRCLE described SeedInvest's crowdfunding strategy, as a cousin to how cryptocurrencies raise money through ICOs.

'While some ICOs turned out to be frauds, the retail interest was a strong indicator that the crowdfunding method was here to stay', Allaire said. 'So Circle decided to seek out a regulated partner like SeedInvest instead of applying for its own licenses or building one in-house.'

'The growth in ICOs were really a pivotal moment for this concept of how businesses can issue digital investment contracts directly over the internet, from all around the world. If people can exchange value over the internet without a toll extracted for payments it's pretty dramatic', Allaire continued.

'It'll make the web look like a cute experiment comparatively speaking in 10 to 15 years.'

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