Tokenization: Democratizing Access to Private Capital Markets

Published on
December 15th, 2020
Duration
35 minutes

Caitlin Long and Dr. Manmohan Singh: The Real Mechanics of Monetary Policy and the Plumbing of the Financial System


Tokenization: Democratizing Access to Private Capital Markets

The Interview ·
Featuring Saum Noursalehi and Haley Draznin

Published on: December 15th, 2020 • Duration: 35 minutes

Companies are staying private much longer. The average has increased from four years to nearly eleven years, and that's where the bulk of the growth happens. If you don’t play in those circles, which are generally reserved for high-net worth individuals, hedge funds and VC funds, you don’t have access to the upside. This is where tZERO comes in. CEO Saum Noursalehi joins Real Vision editor/reporter Haley Draznin for a discussion about using blockchain technology—more specifically, tokenization—to democratize access to private capital markets. Filmed December 10, 2020. Key Learnings: Tokenizing private companies' cap tables and listing them on an exchange creates a new form of liquidity and can allow investors to make quicker exits.

Comments

Transcript

  • MJ
    Matt J.
    14 January 2021 @ 13:11
    This guy looks and sounds like Stewy from Succession. But I'm sure has a much nicer personality.
  • AR
    Anthony R.
    20 December 2020 @ 17:24
    There are a few negative comments on this interview - 'too much crypto', etc., etc. Sorry - but I don't understand the complaint. This is about a whole lot more.... - Yes, it involves blockchain - But... It's really about restructuring the options owners and buyers of businesses have to free up capital and ownership optionality. That's the big picture, and it's consequential. Surprised this audience wouldn't be more focused on that vs buzzwords like 'crypto'....
  • WM
    William M.
    15 December 2020 @ 21:30
    good flow to the interview, Haley - nice job!
    • MH
      Martin H.
      16 December 2020 @ 00:45
      More relaxed, making great strides. Thanks Haley.
    • JL
      Jason L.
      16 December 2020 @ 22:52
      Agree! I like seeing Haley conduct interviews.
  • JG
    James G.
    16 December 2020 @ 20:43
    Tokenization can solve a lot of problems. I would like my stock shares tokenized where I could take my stock off my broker and keep them in a wallet like stock certificates in a safe. That said, one huge issue is voter fraud. Tokenizing a persons vote would eliminate any possibility of fraud.
  • AP
    Alexander P.
    16 December 2020 @ 01:48
    Theranos Tokens would have been some kind of a show. Adult swim.
  • GF
    George F.
    16 December 2020 @ 00:48
    Great interview. I would love to know more about the following if any members have additional information on it. 1. How does Pre-IPO tokenization defer from a SPAC? Chamath Palihapitiya and some of his companies come to mind. 2. How would tokens work as a company goes from a series A to series B, etc? Would they be repriced at each sale? 3. Follow up to my second question, if VC's are potentially not needed anymore, how does that change the dynamics of a startup? A good VC not only provides money but more importantly, provides guidance and expertise in a given field. Could that potentially be lost now?
  • FN
    Frederick N.
    15 December 2020 @ 23:05
    tZERO is associated with Ravencoin via Overstock. RVN is, as far as I know, the only novel asset traded on tZERO, the others being BTC and ETH.
  • mf
    massimo f.
    15 December 2020 @ 16:52
    I thought the whole point of the crypto tier is that it was separate?
  • JL
    Jason L.
    15 December 2020 @ 15:47
    I think this is a great interview. Not sure what everyone is complaining about. Tokenizing private shares is a tremendous advent for investors. To not have to wait for a hopeful, long-shot IPO to exit or monetize an investment and instead be able to reap gains (or cents on the dollar for that matter...which is better than $0 for most early-stage investments that don't work out) on secondary markets such as tZERO's ATS - I think this is a great development for financial markets. Who doesn't like more liquidity and more optionality?!
  • RI
    R I.
    15 December 2020 @ 12:25
    Good grief. Another crypto video.
  • LC
    Leon C.
    15 December 2020 @ 11:20
    Even as a huge crypto fan, I’m tired of crypto content. Please, I want to learn about other things, too.
  • AI
    Andras I.
    15 December 2020 @ 07:14
    Apologies for being insufferable but would it be possible to contain crypto related content to the (free of charge, sponsored) Crypto tier? Why (...) do we need to have this content pushed all over RV? (Essential, occasionally Plus, even Pro and of course constantly on RVDB). Cryptomania took over RV to the point that interviewers almost apologize(!) for not bringing up Bitcoin fast enough (Jack a few days ago, Max in the Vincent Deluard interview) even in interviews where it's irrelevant and it sucks up resources (look at the speed transcripts come out as an example).