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Franklin Templeton CEO Jenny Johnson praised blockchain’s efficiency and asset cost savings while speaking at the 27th Milken Institute Global Conference in California. tokenization and shared his thoughts advantage Generative AI.
Johnson said the company ran parallel experiments processing account records using both traditional and blockchain methods for six to eight months. Results show that blockchain is more cost-effective and less error-prone.
“We were one of the few companies that operated in-house. And one that we built In blockchain. So these are shareholders’ records and we parallel process “For six to eight months,” Johnson said.
“And we were surprised by how little it costs and costs to run a blockchain. This is a very effective technique, we think so. will do open a lot new “It is an investment opportunity,” he emphasized.
Johnson predicts that all ETFs and mutual funds could eventually transition to blockchain technology. She believes this change will lead to significant cost savings by eliminating data verification between different systems on the blockchain.
“In the end, I think about exchange traded funds (ETFs) and mutual funds. everyone will go BE “On blockchain” Johnson decided.
“With blockchain, there is only one source of trust. Once that transaction is made, everyone has a source of trust, So it drives out a lot of things. costs. And when you can drive out friction in transactions; You can start investing new “Local,” she explained.
Franklin Templeton runs the Franklin OnChain US Government Money Fund (FOBXX), one of the world’s leading equity tokenization funds represented by the BENJI token. As of May 12, the market capitalization of BENJI tokens is $368 million, according to Dune Analytics.
Data is the next oil
In addition to tokenization, Johnson also discussed the role of generative artificial intelligence (AI) in helping asset managers better meet the needs of their clients.
According to her, “Data is the next oil of next year.” She believes that large asset managers will have an advantage in the AI race because they have a lot of proprietary data to analyze and train AI models.
Johnson said Franklin Templeton has introduced an AI bot to its help desk to assist with processing. Inquiries and The bot can handle 60% of the queries.
But its true potential is the “model”. That’s leverage There are many different types of AI,” she said. She believes these developments could pave the way for highly personalized investment strategies.
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