Jenny Johnson, president and CEO of Franklin Templeton, said that the progress of cryptocurrencies should not be ignored because the companies built on first-level platforms such as Ethereum, Solana, and Cardano are real companies that will compete with traditional companies. As long as there is the ability to exchange transactions into fiat currencies, there is value, which may threaten some old models because it allows people to become almost part of the network and get paid like shareholders when you expand the network, which changes the relationship between asset owners and assets. Jenny Johnson adds that whether mutual funds or ETFs, the technology that will ultimately drive them will be blockchain, which eliminates the delay that traditional exchanges need to batch update their computer systems to settle funds at night. Blockchains basically do three things: payment mechanisms, smart contract capabilities and general ledgers that ensure ownership.