Pallavi Thakur from Swift and Julien Clausse from BMP Paribas discussed tokenization at the Money20/20 conference, emphasizing the need to address interoperability issues. Thakur highlighted that tokenization platforms often create isolated networks that don’t communicate, posing significant challenges.
These isolated networks exist on multiple levels: network, token format, and data layers. Clausse stressed that achieving true interoperability requires common standards across diverse blockchain projects. Industry standards and practical use cases, such as tokenizing small-scale renewable energy projects, are crucial for the future of tokenization.
Both speakers called for industry collaboration to overcome these fragmented environments. The success of tokenization hinges on solving these interoperability issues, which is vital for transforming the securities market.
