Billionaire Chamath Palihapitiya predicts a crypto sector that will fund all assets
Billionaire venture capitalist Chamath Palihapitiya says that one sector of the crypto industry will be responsible for monetizing all assets and placing them on the blockchain.
In a new All-In podcast, the CEO of Social Capital predicts that people will eventually figure out how to tokenize all their assets and assets in an attempt to capture value.
“All the leaks you have today are gone in the world of Defi (decentralized finance) because it will fund every possible asset. They will finance their house. You will finance your car. You will finance your watches, your jewelry, and your art. You will randomly fund everything [including] your career.
By monetizing it and funding it, you can borrow it, you can trade it, and you can mine its value in the future. "
According to Palihapitiya, users who put their assets on the chain will not mind paying taxes because of the ability to generate superior revenue.
“But everything will be watched. As long as the government says, 'Listen, we'll allow everything, but there needs to be a breakthrough on taxes.' And that's pretty simple because there's a physical home in the world. You cannot hide the existence of a physical home…
I think what this is going to create is a world where all these assets actually exist in the real world, it's great that it exists and people have to pay taxes on it, but it would be more legal. a lot, and I thought it would be simpler.
I think people are going to trade up taxes for extra money… If I really unlocked the ability to focus on income versus expenses, I wouldn't focus so much on taxes because I would say, 'Wow. , I can earn much more money than that. ''
Oct 10, 2022