Stablecoins & the Great Tokenization
Financial Lockstep & the Coming Beast System (Part 2)
In Part 1 we examined recent developments in Ukraine and Europe related to financial technocracy and asset registries. Part 2 is a follow on from that article.
Project Agora and the Tokenization Agenda
In early 2024—just months before Donald Trump’s return to the White House—the Federal Reserve Bank of New York, in coordination with six other central banks, the Bank for International Settlements (BIS), and over 40 private-sector banks, launched Project Agora. The initiative aimed to “explore asset tokenization and CBDCs,” test a “unified ledger,” and “enhance cross-border payments.”
Almost immediately after the project began, a coordinated narrative pivot occurred in America relating to digital assets moreover. Suddenly, institutions that had previously shunned Bitcoin and crypto were embracing them as the ‘future of finance’. At the front of this shift stood Larry Fink, CEO of BlackRock. A man who just a few years earlier had outright dismissed Bitcoin as a scam, and “a tool of money laundering.”
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Now, Fink was comparing Bitcoin to gold, seeking to impress upon the financial world the idea that not only was owning Bitcoin no longer risky—it was a safe haven for their capital. Bitcoin ETFs arrived shortly thereafter—opening the door for institutional money to begin flowing into the space.
But it soon became clear that normalizing Bitcoin was not Larry Fink’s real agenda. It was the first phase of a much broader plan, and almost immediately after the approval of Bitcoin ETF’s, Fink began championing the agenda of tokenization. The process of converting real-world assets like property, stocks, bonds, vehicles, and even gold, into digital tokens that live on a blockchain.
Ownership of the underlying asset can then be ascribed to the token, enabling the asset to be easily tracked or traded, 24 hours a day, 7 days a week, 365 days a year. Given traditional financial markets only operate Monday to Friday during working hours—the potential financial rewards of tokenization for wall street—are massive. With tokenization, the casino can remain open in perpetuity.
The tokenization agenda is about much more than wall street profitability, however. It is a radical transformation of what ownership is, and how property rights are assigned, transferred and revoked. Not to mention a way to centralize information on all assets everywhere—across the entire planet.
The idea is very much tied into the ambition to force Digital ID’s on us all, given a system of tokenization would require every individual to have a digital representation of their identity, in order to own property. Identities which would then also be tokenized, and held on blockchain ledgers. Your very own digital twin.
“Every asset — can be tokenized,” Fink wrote in his recent annual letter to investors. Unlike traditional paper certificates signifying financial ownership, tokens live securely on a blockchain, enabling instant buying, selling, and transfers without paperwork or waiting — “much like a digital deed.”
Financial transactions demand rigorous identity checks. Apple Pay and credit cards handle identity verification effortlessly, billions of times a day. Trade venues like NYSE and MarketAxess manage to do the same for buying and selling securities. But tokenized assets won’t run through those traditional channels, meaning we need a new digital identity verification system...The takeaway is clear. If we're serious about building an efficient and accessible financial system, championing tokenization alone won't suffice. We must solve digital verification, too.
Fink’s announcement regarding Blackrocks move into the Bitcoin space was largely met with excitement. In what has become a distinctive pattern, it appears the allure of an ever higher Bitcoin price is been leveraged to garner support for the overall agenda and reduce any resistance to big government and big finance entering the space. So let’s now take a step back and consider the role Bitcoin has played in the evolution of the financial control matrix. We will also look more closely at first mainstream advocate for Bitcoin, the man who helped pave the way for companies like Blackrock to pivot on the asset: Michael Saylor.