Franklin Templeton’s CEO, Jenny Johnson, recently stated in an interview that in the future, all cryptocurrency spot ETFs and mutual funds will ultimately be introduced to blockchain. During the 27th Milken Institute Global Conference held in California, Johnson, who oversees $1.6 trillion in assets, was interviewed by Bloomberg anchor David Westland. She reiterated her strong support for blockchain technology during the conference.
In the discussion, Jenny Johnson expressed optimism about blockchain technology, particularly in its application to tokenization of investment products. She mentioned that Franklin Templeton has already witnessed the cost-effectiveness of blockchain technology in parallel experiments for account record management. She stated, “This technology not only offers high efficiency but also opens up many new investment channels.” She further predicted that all products such as ETFs and mutual funds will eventually be introduced to blockchain platforms, providing investors with more choices and greater flexibility.
In the traditional financial system, the cost of data verification between different systems is extremely high, while blockchain technology offers a potential solution to this problem. Jenny Johnson explained, “Blockchain technology can ensure data consistency internally and effectively verify data with external parties.” This efficiency improvement is significant for financial institutions as it can reduce errors and delays and lower transaction costs.
Although the recent development of NFT applications has limited the imagination of the market, Jenny Johnson mentioned the case of popular singer Rihanna tokenizing her music copyrights using NFTs to further illustrate the potential of blockchain technology in practical applications. These NFTs not only represent partial ownership of her music works but also provide royalty income to holders through smart contracts.
Franklin Templeton had previously posted a photo of the “laser eyes” on their Twitter account in January, showing the laser eyes shining from Benjamin Franklin’s eyes on the US $100 bill. Benjamin Franklin is also the logo figure of Franklin Templeton. It unequivocally demonstrated their embrace of cryptocurrencies. At that time, Jenny Johnson, the CEO of Franklin Templeton, praised the approval of a Bitcoin spot ETF and mentioned that she had set the “laser eyes” photo as her phone wallpaper. She pointed out that Franklin Templeton has been involved in blockchain and cryptocurrency for the past 5 years, not only participating in development and node deployment but also recognizing blockchain and cryptocurrency as practical technologies of the future. This shows that the CEO truly understands Web3 culture.
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