{"id":80560,"date":"2023-06-21T16:21:24","date_gmt":"2023-06-21T13:21:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80560"},"modified":"2025-09-11T17:43:45","modified_gmt":"2025-09-11T14:43:45","slug":"bis-cryptocurrencies-are-a-mistaken-path-to-tokenisation","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bis-cryptocurrencies-are-a-mistaken-path-to-tokenisation\/","title":{"rendered":"BIS: Cryptocurrencies Are a Mistaken Path to Tokenisation"},"content":{"rendered":"<p>Experts from the Bank for International Settlements (BIS) called <a href=\"https:\/\/forklog.com\/en\/news\/what-are-tokenised-assets\">tokenisation<\/a> based on <span data-descr=\"central bank digital currency\" class=\"old_tooltip\">CBDC<\/span> the future of the global financial system, and cryptocurrencies \u2014 a mistaken branch of this process.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">A <a href=\"https:\/\/twitter.com\/hashtag\/UnifiedLedger?src=hash&#038;ref_src=twsrc%5Etfw\">#UnifiedLedger<\/a> \u2013 a new type of financial market infrastructure \u2013 can harness the benefits of tokenisation by combining <a href=\"https:\/\/twitter.com\/hashtag\/CBDC?src=hash&#038;ref_src=twsrc%5Etfw\">#CBDC<\/a>, <a href=\"https:\/\/twitter.com\/hashtag\/TokenisedDeposits?src=hash&#038;ref_src=twsrc%5Etfw\">#TokenisedDeposits<\/a> and <a href=\"https:\/\/twitter.com\/hashtag\/TokenisedAssets?src=hash&#038;ref_src=twsrc%5Etfw\">#TokenisedAssets<\/a> in shared programmable platforms. <a href=\"https:\/\/twitter.com\/hashtag\/BISAnnualEconReport?src=hash&#038;ref_src=twsrc%5Etfw\">#BISAnnualEconReport<\/a><a href=\"https:\/\/t.co\/eKJVwQjpqJ\">https:\/\/t.co\/eKJVwQjpqJ<\/a> <a href=\"https:\/\/t.co\/9VcumPPWv5\">pic.twitter.com\/9VcumPPWv5<\/a><\/p>\n<p>\u2014 Bank for International Settlements (@BIS_org) <a href=\"https:\/\/twitter.com\/BIS_org\/status\/1671111927626362880?ref_src=twsrc%5Etfw\">June 20, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In the BIS\u2019s Annual Economic Report, BIS specialists noted that the previous leap in the development of monetary relations was driven by the emergence of financial instruments in the form of ledger entries. With the advent of the electronic era they acquired digital form, giving impetus to the dematerialisation of money.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Today the monetary system stands on the cusp of another major leap. After dematerialisation and digitisation, tokenisation has become the key event \u2014 the process of representing claims in digital form on a programmable platform,&#8221; BIS says.<\/p>\n<\/blockquote>\n<p>According to experts, cryptocurrencies &#8220;have given a sense of the prospects for tokenisation,&#8221; but themselves are a mistaken system and cannot assume the role of money of the future.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Cryptocurrency is not only self-referential, hardly interacts with the real world, but also has no anchor of trust to money provided by the central bank. At the same time, as <a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\">stablecoins<\/a> proliferated to fill this vacuum,&#8221; they noted.<\/p>\n<\/blockquote>\n<p>The BIS outlined a plan for a future monetary system, whose key elements will be CBDCs, tokenised deposits and other requirements for financial and real assets. The unifying component will be a new type of market infrastructure \u2014 a &#8220;unified registry&#8221;. The platform could enable the integration of several registries, operating in a &#8220;network of networks&#8221; mode.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;This will enable the full benefits of tokenisation through the finality of settlements deriving from central-bank money. Drawing on trust in the central bank, such a joint solution has strong potential to strengthen the monetary and financial system,&#8221; the institution&#8217;s experts emphasised.<\/p>\n<\/blockquote>\n<p>In the BIS&#8217;s previous annual report, BIS specialists <a href=\"https:\/\/forklog.com\/en\/news\/bis-says-cbdcs-will-be-the-foundation-of-future-monetary-systems\">stated<\/a> that the foundation of future innovative monetary systems will be CBDCs, not cryptocurrencies with their systemic shortcomings.<\/p>\n<p>As Bernstein Asset Management estimates, over the next five years <a href=\"https:\/\/forklog.com\/en\/news\/report-tokenisation-could-cover-5-trillion-of-assets-in-the-next-five-years\">tokenised assets worth $5 trillion<\/a> could be tokenised, including 2% of the global money supply.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Experts from the Bank for International Settlements (BIS) called tokenisation based on CBDC the future of the global financial system, and cryptocurrencies a mistaken branch of this process.<\/p>\n","protected":false},"author":1,"featured_media":80561,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1282,1430,1095],"class_list":["post-80560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-asset-tokenization","tag-bis","tag-cbdc"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=80560"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80560\/revisions"}],"predecessor-version":[{"id":80562,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80560\/revisions\/80562"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80561"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}