The post Ethereum Gains BlackRock’s Favor Over Permissioned Blockchains appeared on BitcoinEthereumNews.com.

Ethereum (ETH) is tipped for a bullish run following the recent shift of BlackRock towards permissionless blockchain. BlackRock recently launched its first tokenization project on the Ethereum blockchain.  The longstanding argument between a non-restrictive, permissionless distributed ledger system and its permissioned counterpart crept into a panel discussion at Coinbase’s State of Crypto Summit 2024 on June 13, 2024. Here, Ethereum’s permissionless blockchain seemed to have emerged at the top with Samara Cohen, the Chief Investment Officer of BlackRock for ETF and Index Investments, narrating the evolution of this technology from years back.  According to her, private permissioned blockchains were expected to lead a few years back, however, public blockchains have defied all odds to take the lead in the ecosystem. Interestingly, experts have concluded after a broader consultation and observation that open source platforms like Ethereum are mostly preferred to avoid fragmenting liquidity and ensure wider and more efficient market participation.  BlackRock Takes Action Towards Permissionless Blockchain Samara Cohen’s recent remark comes soon after BlackRock launched its first tokenization project on the Ethereum blockchain. In collaboration with a US-based firm Securitize, BlackRock tokenized the “Institutional Digital Liquidity” fund, bringing an initial liquidity of $100 million. Our investigation shows that the fund primarily invests in cash, short-term debt securities, and US Treasury bonds while leveraging Ethereum’s architecture to facilitate its operation.  Blackrock CIO of ETF & Index Investments @Samaraepcohen said today at the Coinbase event that permissioned blockchains have lost, & that traditional market participants are coalescing around open-source #Ethereum for tokenization, so as not to fragment liquidity 👍 — matthew sigel, recovering CFA (@matthew_sigel) June 13, 2024 In line with the presentation of BlackRock’s CIO, Hunter Horsley, CEO of Bitwise has confirmed that BlackRock has embarked on a remarkable shift towards public blockchain. Speaking on this, Horsley stated that there…

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Filed under: News - @ June 16, 2024 1:20 am