Jenny Johnson, CEO of Franklin Templeton, recently stated in an interview that all future cryptocurrency spot ETFs and mutual funds will ultimately be introduced to the blockchain.
During the 27th Milken Institute Global Conference held in California, Johnson, who manages $1.6 trillion in assets, was interviewed by Bloomberg anchor David Westland. Johnson reiterated her strong support for blockchain technology during the conference.
Franklin CEO: ETFs Will Eventually Go on the Chain
During the discussion, Jenny Johnson expressed optimism about blockchain technology, particularly its application in tokenizing 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,
On the other hand, Jenny Johnson also predicted how blockchain technology will revolutionize traditional financial products. She believes that all future ETFs and mutual funds will ultimately be introduced to the blockchain platform. She praised, “This technology not only offers high efficiency but also opens up many new investment channels,” and stated that blockchain can provide investors with more choices and greater flexibility.
In traditional financial systems, the cost of verifying data between different systems is extremely high, while blockchain technology offers a possible solution to this problem. Jenny Johnson explained, “Blockchain technology can ensure data consistency internally and efficiently verify data with external parties,” which is significant for financial institutions as it can reduce errors, delays, and transaction costs.
Although the recent development of NFT applications has been limited, Jenny Johnson mentioned the case of popular singer Rihanna tokenizing her music copyrights through 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.
CEO Familiar with Web3 Culture
Franklin Templeton previously posted a photo of “laser eyes” on its Twitter account in January, showing Benjamin Franklin’s eyes on the US hundred-dollar bill emitting lasers. Benjamin Franklin is also the logo figure of Franklin Templeton. There is no doubt about the company’s embrace of cryptocurrency.
At that time, Jenny Johnson, CEO of Franklin Templeton, also praised the approval of the Bitcoin spot ETF and mentioned that she set the “laser eyes” photo as her phone wallpaper. She pointed out that Franklin Templeton has been paying attention to blockchain and cryptocurrency for 5 years, not only participating in development and node deployment but also recognizing that blockchain and cryptocurrency are practical technologies of the future. This CEO truly understands Web3 culture!