Crypto spent years arguing that institutions would arrive and everyone holding a token would be rewarded. The institutions are arriving. BlackRock runs a tokenized fund on Ethereum. Franklin Templeton records transactions on public blockchains while its transfer agent still holds the official ownership record. Scott Melker's argument is that those are two different wins. A better financial product and a token that captures the value of that product are not the same asset, and the gap between them could define the next decade of crypto investing. The whole episode comes down to one question: where exactly do you get paid? Timestamps 0:00 Being early to a technology is not owning its success 1:14 What tokenization actually changes, and what it does not 3:16 BlackRock and Franklin Templeton, two products worth examining 4:04 The word "could" is doing a lot of work 5:00 Two different people, two different wins 6:13 A highway is not worth every truck that drives on it 7:00 Where public networks genuinely do capture value 8:11 Wall Street did not show up to validate your portfolio 9:03 What you actually own, and what a court would say 10:06 Permissioned tokens, freezes and the limits of your wallet 11:13 The honest version, not the dramatic one 12:18 The three questions that decide whether you get paid #Tokenization #Crypto #WallStreet #Bitcoin #Ethereum #DailyWolf #YahooFinance == AlphaSpace by Yahoo Finance: A Professional-Grade Investment Platform Built for Everyday Investors. 👉 https://finance.yahoo.com/about/promos/gold/alphaspace?ncid=100003571