Bank of America kicked off its digital asset research today with the release of a report titled “Digital Assets Primer: Only the first inning”, led by Alkesh Shah, Head of Global Cryptocurrency Strategy and digital assets.
Digital assets represent a market value of over $ 2 trillion with over 200 million users and have the potential to transform every industry by improving efficiency and reducing friction between transactions. Hundreds of companies are forming within this new ecosystem, creating a new asset class.
The Seed provides an investment framework for the digital asset landscape, looking through a variety of lenses: tokens that act like operating systems; applications powered by smart contracts; stable coins linked to fiat currencies; central bank digital currencies that could replace money; and non-fungible tokens that connect creators and fans in a different way.
“Bitcoin is important,” Shah said, “but the digital asset ecosystem is much more than that. Our research aims to explore the implications across all sectors, including finance, technology, supply chains, social media and games.
“Digital assets are transforming the way markets, businesses and central banks operate,” said Candace Browning, head of BofA Global Research. “Bank of America offers a leading global payments platform and blockchain expertise, and the addition of digital asset research further strengthens the depth and breadth of our offerings for investors . ”