This content was created by Alexander Lorenzo. This content was uploaded by Alexander Lorenzo. This is a YouTube excerpt titled "The CEO of BlackRock Said Crypto Is Changing the “Plumbing of Finance”" (created 2025-10-30). It presents a two-person discussion (labeled SPEAKER A and SPEAKER B) about cryptocurrency and financial infrastructure: central banks and the role of tokenization/digitization (CBDCs), implications for the dollar and payment companies, broader access via stablecoins in high-inflation regions, Bitcoin's volatility, the rapid tokenization of financial assets and digital wallets/ETFs, and a claim that blockchain can help contain agentic AI (including an explanation of 51% attacks and blockchain security).
Chapters
The CEO of BlackRock telling the world again that crypto would change the entire plumbing of finance.
I would say the biggest question from central banks is what is the role of tokenization and digitization? How quickly should they think about digitizing their own currency? What does that mean for the role of the dollar if every currency digitizes? And we have, you know, what does that mean for bank payments? What does that mean for the, for the payment companies like Mastercard?
When a dollar is digitized, this means more adoption. There's like a big percentage of the world that doesn't have access to banking. So essentially, when you digitize it, this gives access to everyone that doesn't have a bank, right? You can buy United States stablecoin for these places that are hyperinflated, their own government currency, where their currency that they get paid in is valueless. They could immediately put that into a stablecoin before they were doing it with Bitcoin. This is why you see a lot of third world countries adopting Bitcoin. But the problem with Bitcoin is extremely volatile. So I would say it would increase adoption. On the United States dollar through the convenience of the internet.
Visa, all these are being questioned right now. I will make, you know, we, I think we spend so much time talking about AI, we're not spending enough time talking about what, how quickly we're going to tokenize every financial asset.
Now what's also interesting about AI is that AI has agentic capabilities, meaning it can operate at its own will. So essentially an AI could literally just do whatever it wants without human intervention. Obviously it can get really weird, right? So for example, world domination, right? For example, you know, doing whatever it can to take over all of our online systems. I believe through the security of blockchain, because it's unhackable cryptographic technology, AI can be contained to agentic capabilities to be able to do whatever we want, but also not take it too far. You can make literally a closed casket with cryptographic technology because of the antifragility that crypto has as it gets bigger. So crypto gets bigger, it gets more and more secure. And essentially the only way to hack certain networks is to basically get more economic value than 51% of the network itself. It's a hard concept to understand. It's called the 51% attack. But basically, you can't hack Bitcoin unless you have 51% of the mining power. That means you have to have— you have to purchase 51% of all the miners, and that's the only way to hack Bitcoin. So obviously, it would be very difficult for an AI to pull that off, meaning we could actually contain an agentic or agent AI in a blockchain. And this is the future of AI.
And the opportunity we're going to have to have a digital wallet and moving You know, ETFs and other things through a digital wallet. And I think that's going to happen worldwide very rapidly. And I think most countries are ill-prepared for that and underappreciate how technology is changing that. Not, not unlike how technology is changing AI and other things. It will be changing the technology around the plumbing of finance.
As you heard it from his mouth, it will be changing the technology around the plumbing of finance. So it doesn't matter who you are. I've said this for 7 years being in crypto, you will have to adopt blockchain technology. You have no choice.
