Sunday Newsletter

Explore the latest trends, gain valuable insights, and stay informed in the dynamic cryptocurrency ecosystem.

12 May 2024

Jenny Johnson, CEO and President of Franklin Templeton, a financial powerhouse managing $1.6 trillion in assets, reaffirmed her support for blockchain technology in a recent interview with Bloomberg’s David Westland at the 27th Annual Milken Institute Global Conference.

During the discussion, Johnson emphasized the transformative potential of blockchain, highlighting its efficiency benefits and cost-saving capabilities. She predicted a future where all ETFs and mutual funds would operate on blockchain, citing its ability to streamline data verification processes and create a single, reliable source of truth.

Expounding on the advantages of blockchain, Johnson referenced a successful trial period where Franklin Templeton compared traditional record-keeping methods with blockchain-based solutions, yielding notably reduced costs. She emphasized the technology’s capacity to unlock diverse investment opportunities, pointing to examples such as Rihanna’s NFT venture offering fractional royalties to investors.

In addition to blockchain, the conversation delved into the realm of generative artificial intelligence (AI), with Johnson acknowledging its utility while cautioning about its limitations. Drawing parallels to a student excelling in one subject but faltering in another, she stressed the importance of discerning AI’s strengths and weaknesses.

Johnson highlighted Franklin Templeton’s collaboration with Microsoft to develop an AI-powered sales assistant and explored investment prospects in AI-driven services, including language translation tools to bridge finance-related language barriers.

Through her insights, Johnson underscored the pivotal role of emerging technologies in reshaping the landscape of financial services, paving the way for innovation and efficiency gains.