- Oppenheimer & Co. released a blockchain white paper listing 10 key themes to watch this year.
- The rise of crypto tokens is one of those themes.
- We list the six tokens the firm’s analysts say can disrupt traditional industries.
- See more stories on Insider’s business page.
The investment-banking firm Oppenheimer & Co. expects blockchain technology to eventually upend many legacy industries, including banking, law, healthcare, and supply chains, it said.
In the firm’s most recent blockchain white paper, analysts said blockchain and crypto adoption had parallels to the widespread adoption of the internet in 1998.
“We are barely in the first inning of blockchain innovation, we think, similar to the Internet in the late 1990s, when an explosion of innovation (and speculation) took place,” the analysts said in the March 26 report.
The analysts outlined 10 key crypto and blockchain themes to watch for in 2021.
One key theme is the rise of cryptocurrency tokens. The analysts said the tokens had the potential to disrupt legacy organizations and industries.
“Right now, we are seeing a surge in the number of new token-based community business models that disrupt rent-seeking middlemen,” the analysts said.
The total value of the cryptocurrency market is about $1.5 trillion. For tokens, it’s about $40 billion, but this is five times more than what was listed in the firm’s last white paper in November.
What are crypto tokens?
Crypto tokens are a type of cryptocurrency that can represent a specific asset or use case on the blockchain.
Tokens are usually created, distributed, and sold through an initial coin offering. An ICO is a crowdfunding exercise that typically enables funding of the project development.
There are two types of crypto tokens: fungible and…