The appointment is given in 2030. In a report commissioned by the European Commission, the contours of a future economy “tokenized via the blockchain” are emerging. Some investors see it as the future of asset trading. But this shift would lead us towards a society totally locked by a technocratic vision, where everything would be traced and monitored.
Tokenization, the challenge of tomorrow for Europe?
We were already telling you about it in 2022, many economic players are betting on a increasing tokenization of the economy, including the American giant BlackRock. Many see it as the future of financial transactions. Others, more nuanced, warn of a dangerous slippage fueled by speculation.
But what exactly is tokenization? Concretely, tokenization refers to the process ofregistration of an asset on a blockchain. It is a question of creating a “derivative” product or rather associated, backed, with a real asset like gold or real estate. The goal? Developing a ” industry 4.0 “. Today, cryptocurrencies are the best-known form of token. You can consult our articles to learn more about tokenization and its challenges.
Will Europe be the cradle of the digital industry of the future? In any case, this is what the recent statements of the European Union seem to say. Indeed, while wishing regulate these new technologies, the EU would also like to welcome the next big companies in the sector. Aware of the stakes, the old continent is striving to move the lines quickly. Because Europe does not want to miss the next digital shiftas it did in the early days of the Internet.
A disturbing scenario
It is in this context that the EU is learning about the possibilities of blockchain. She is particularly interested in tokenization. Ordered by a special commission, Tokenise Europe 2025 tries to imagine the world in 2030 after a general tokenization of society. And despite all the good intentions of its sponsors, the report gives a feeling of unease. He is indeed delighted with a world totally transformed and disfigured by digitization via the blockchain.
” Tokenization impacts many areas of our lives: the virtual worlds we live in, the money we pay with, the assets we invest in, and the automation of processes in our daily lives. Tokenization involves many stakeholders: companies and SMEs, governments, citizens, banks and central banks. »
Of course, the innovations of tokenization must bring their share of positive effects: security, simplification and monitoring of transactions, fight against identity theft… the possible applications are numerous. Moreover, Asia is already entering the race to tokenize assets and goods. A delay to catch up as soon as possible? This is what the proponents of an industry 4.0 seem to advocate. blockchainized “. In any case, this will be an issue that the European Union will have to study quickly, regardless of its final position.
“In 2030, all digital identities – of people and machines – are stored in digital wallets”
Moreover, Tokenize Europe imagine what a typical day for a European citizen might look like in a tokenized world in 2030. Metaverse, autonomous fridge, digital identity and ubiquitous artificial intelligence ! Welcome to a world where the individual has become an adjustable variable, guided by data and intelligent algorithms. “Simon is a European citizen and has a bio-unique digital identity token stored in his smartwatch. », Congratulate the analysts. In the future, the good citizen is therefore the one who gives the most space to technology, playing the game of tokenization and digital centralization. But will there really be a choice for the others?
Admittedly, the scenario is not sold as a model to be achieved. However, the absence of any criticism makes it worrying. Besides, Tokenise Europe 2025 insists on the need to work on the digital sovereignty of the EU. A laudable intention, but without analysis of the social consequences. Not enough to worry decision-makers in the business world, focused on their growth objectives. Their lobbying work in favor of tokenization could quickly bear fruit, with an ambitious objective announced: 2030, which is (almost) tomorrow.
After arriving home, Simon takes one last look at the latest news streaming across the metaverse based on his self-defined preferences.
A tokenized future: the best of both worlds?
It’s clear that tokenization could appeal European governments. Tracing, data collection, logistical and economic optimization: the prospects are real. However, tokenization is of particular interest to financiers. Indeed, the phenomenon could breathe new life into an economy in recession, while offering new products.
However, even if more and more politicians are embracing techno-solutionism (the art of solving all problems through technology, including economic questions), we can now see its limits. Indeed, technology in itself does not “solve” anything. On the contrary, it tends to cause more problems, making our societies ever more complex.
Thus, the tokenization of all aspects of human life is a total project, not to say totalitarian. Far from being just a business opportunity, it is the idea of being able to control everything that feeds this project. Moreover, with the upcoming arrival of central bank digital currencies (CBDCs), an extremely centralized horizon presents itself. A future at the antipodes of the initial promises of the blockchain.
In this regard, the authors of Tokenise Europe 2025 also welcome the upcoming rollout of central bank digital currencies. According to them, they could boost consumers’ appetite for the innovations of tomorrow: ” The introduction of tokenized CBDC could implement programmable payment at scale and encourage micro-payments for the Internet of Things. »
Several divergent visions clash concerning the application and use of the blockchain. Finance lobbies see the tokenization of our lives imminent. However, it now seems difficult to imagine such a scenario by 2030. A simple question of time? It would still be necessary for citizens to be able to decide whether or not to choose this technology, which is still poorly understood. Even if tokenization can be good, such a scenario does not bode very well for the future..
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