Franklin Templeton CEO says some tokenized funds fail to fully realize the benefits of on-chain technology
BIBIBI
AT A GLANCE
Jenny Johnson said some tokenized funds fail to fully realize the benefits of on-chain technology, and that BENJI can accrue earnings by the second and reduce transaction costs.
Article
Franklin Templeton CEO: Some Existing Tokenized Funds Fail to Fully Realize the Benefits of On-Chain Technology
BlockBeats reports,October 8, Franklin Templeton CEO Jenny Johnson at the TOKEN2049 conference criticized the current tokenized fund market. She argued that many tokenized funds launched by competitors are merely “digital copies” or “digital twins” of traditional financial products and do not truly realize the potential of blockchain for efficiency and settlement.
Johnson compared Franklin Templeton’s tokenized products with other products on the market, distinguishing between “native” and “replicated” models. She said that Franklin Templeton’s BENJI fund uses a native on-chain recordkeeping model, with fund ownership records based directly on a public blockchain; the blockchain itself is the source of truth rather than a mapping of a traditional ledger.
Johnson said this design provides practical advantages. First,BENJI supports earnings accrual by the second, enabling real-time earnings calculation. Second, costs are significantly lower. She stated that BENJI each transaction costs approximately 1.13 USD, while under the traditional method, each transaction costs approximately 150 USD.
Original link https://m.theblockbeats.info/flash/370750
Key points
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BlockBeats reported that October 8, Franklin Templeton CEO Jenny Johnson discussed the current tokenized fund market at the TOKEN2049 conference.
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Johnson said many competitors’ tokenized funds are merely “digital copies” or “digital twins” of traditional financial products.
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Johnson said Franklin Templeton’s BENJI fund uses a native on-chain recordkeeping model, with fund ownership records based directly on a public blockchain.
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Johnson said BENJI supports earnings accrual by the second and enables real-time earnings calculation.
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Johnson stated that BENJI each transaction costs approximately 1.13 USD, compared with approximately 150 USD。
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Johnson divided tokenized funds into categories: “native on-chain” and “replicating a traditional ledger.” By the native model, she means placing fund ownership records directly on a public blockchain; the replication model is more like mapping records from a traditional system onto a blockchain. Using BENJI as an example, she argued that this design can calculate earnings faster and reduce the cost of each transaction.
Why it matters to readers
The focus of these remarks is not whether a fund uses blockchain, but whether the blockchain directly performs ownership recordkeeping and settlement-related functions. If the relevant mechanisms and cost data hold, native on-chain recordkeeping may offer efficiency different from mapping traditional ledger records onto a blockchain.
Beginners can understand a “tokenized fund” as one that uses digital tokens to represent fund interests. Note that the “tokenized” label does not mean that the product’s core records and operations are all completed directly on a blockchain.
Risks and unknowns
The evidence is BlockBeats’ account of the remarks made at the event; no original speech transcript was provided.
The specific implementation conditions for earnings accrual by the second and real-time earnings calculation were not disclosed.
1.13 USD The cost basis, calculation methodology, and scope of application for 150 USD and
The article provides no independent materials to verify BENJI’s recordkeeping model, earnings mechanism, or cost data.
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The article does not identify the competitors criticized or their specific products.
Related concepts
tokenized funds
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