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Towards a Tokenized Economy
The Convergence of Finance, Technology and Media in the Digital Economy
Yoshitaka Kitao (Author)
9781394424948, Wiley
Hardback, published 19 March 2026
224 pages
18 x 13.2 x 1.8 cm, 0.272 kg
Discover how blockchain, stablecoins, and Web3 are revolutionizing global finance and creating unprecedented investment opportunities In Towards a Tokenized Economy, leading financial executive Yoshitaka Kitao provides essential insights into the transformation of global finance through technological innovation. Drawing on his extensive experience in financial services and strategic technology investments, Kitao explains how blockchain, cryptocurrency, and tokenization are fundamentally reshaping monetary systems, investment strategies, and the structure of the world economy. This comprehensive guide takes readers through the emerging landscape of modern finance, from the strategic importance of dollar-pegged stablecoins and Bitcoin's role as a reserve asset to the revolutionary potential of Web3, decentralized finance, and security tokens. Kitao explains complex technological concepts in accessible terms while revealing the geopolitical implications of these developments, including strategies to maintain monetary dominance through cryptographic assets. The book combines technological depth, financial expertise, and strategic foresight, giving you: Towards a Tokenized Economy is a must-read for investors, financial professionals, executives, and business leaders who need to understand and capitalize on the transformation of modern finance. Whether you're hoping to enhance your investment strategy, evaluate emerging innovations, or position your organization for the tokenized world, Kitao delivers the knowledge you need to navigate a financial world that is changing at its foundations.
Preface xv Introduction The Future Landscape of Finance Emerging from Technological Evolution 1 Foresight Can Be Cultivated 3 Time Machine Management and the Internet 4 Importance of Understanding the Substance of Technology 6 Chapter 1 The New Dollar- Based Monetary System Created by the Convergence of Finance and Digital Technology 9 Cashless Society Is Just the Beginning 11 Crypto Assets Are Driving the Convergence of Finance and Digital Technology 11 Stablecoins Now See More Than JPY 500 Trillion in Monthly Transactions 14 Why Stablecoins Matter: Scale, Cost, and Speed 17 Stablecoins as a Safe Store of Value 19 The Strategic Position of U.S. Dollar- Pegged Stablecoins 21 What Makes a Reserve Currency: Credibility and Convenience 23 Background and History of the U.S. Dollar- Based System 24 The U.S. Dollar System Is Showing Signs of Decline 26 De- dollarization: The Challenge to U.S. Dominance 27 Russia’s Invasion of Ukraine Accelerates De- dollarization 29 BRICS Leads the Push for De- dollarization 30 Using Crypto Assets to Preserve the Dollar- Based System 32 Trump Administration’s Serious Approach to Crypto Asset Policies 33 Why the Trump Administration Banned CBDC Issuance 35 U.S. Treasury Secretary Clarifies the Administration’s Stance 36 Key Crypto Legislation Progressing Quietly Behind Trump’s Tariffs 38 Announcement of Project Crypto by the U.S. SEC 39 Stablecoin- Specific Bills to Watch 41 Stablecoins Increase the Value of U.S. Treasury Bonds 42 The Growing Burden of U.S. Debt 44 Elon Musk’s Role and Misunderstood Impact 47 Raising Government Efficiency Through Digital Technology 48 Blockchain Technology: Ensuring Operational Transparency 49 Innovation and the “Kondratiev Wave” 51 The Advent and Spread of Crypto Assets Lead a Historic Shift in the Global Payment System 53 Chapter 2 Why Has the Price of Bitcoin Exceeded JPY 10 million? 57 Understanding the True Value of Bitcoin 59 A Financial Asset Bigger Than Google or Amazon 59 The Launch of Bitcoin ETFs Had a Major Impact 61 U.S. Financial Authorities Call Bitcoin “Digital Gold” 63 The Trump Administration’s “Strategic Bitcoin Reserve” Plan 65 Bitcoin Is a Reserve Asset to Be Stockpiled 66 The Intrinsic Value of Bitcoin Is “Technology” 68 The Fate of “Digital Data” with Both Advantages and Disadvantages 68 How Blockchain Makes Data Alteration Impossible 70 A “Distributed Ledger” Is a Shared Database Across Many Parties 71 Cloud Services Use a Centralized Network 72 Why Blockchain Is Called Decentralized 73 Creating and Linking “Blocks” of Data: Why It’s Called a Blockchain 74 “Hash Functions”: The Encryption Technology That Prevents Tampering 75 Why Blockchain Data Can’t Be Changed 77 “Proof of Work”: The Rule That Keeps Everything in Order 77 Mining: Competing Like Gold Miners 79 Why Individuals Can’t Mine Bitcoin Anymore 80 Blockchains Can Be “Hijacked”! 82 Bitcoin Has Built the World’s Strongest Blockchain 83 Bitcoin’s Value Will Continue to Rise 84 Chapter 3 The Convergence of Finance and Digital Technology Enabled by Web3: What Does It Mean? 85 Web3 (in a Narrow Sense): A Decentralized Internet Based on Blockchain 87 Web3 (in a Broad Sense): A New Era for the Digital Economy 87 The “First Economic Democratization” Brought by the Internet Revolution 89 “Web2” Enabled Two- Way Communication 90 Big Tech’s Monopolization of Information Becomes Clear 91 Individuals Have No “Property Rights” Over Their Data in Web2 92 Stricter Regulations on Big Tech Are Progressing 94 Web3 Brings the Second Economic Democratization 94 “Smart Contracts” Are Key to Web3’s Decentralization 96 Ethereum Created Smart Contracts 97 From Online to On- Chain 98 Layer 2: Addressing the Scalability Problem 99 The Essential Role of Interoperability 100 Decentralized Finance, the Financial System of the Web3 Era 102 The Expanding Market for Decentralized Exchanges 104 NFTs Are the First Web3 Service to Break Through 105 NFT Transaction Records Are Managed on a Blockchain 106 Decentralized Autonomous Organization, the Way Organizations Exist in the Web3 Era 107 Yamakoshi DAO Is a Successful Example in Japan 110 The Essence of Web3 Is Decentralization × Co- creation, Ownership, and Exchange of Value 111 Chapter 4 The Rise of the Token Economy and the Formation of a Digital Ecosystem 113 The Arrival of the Token Economy 115 The Digital Space Ecosystem Is a Concept That Encompasses the Metaverse 116 Manufacturing Production Simulation Is Also Possible in the Metaverse 118 Metaverse + Web3 = Digital Space Ecosystem 120 Security Tokens, the Next- Generation Financial Instruments 122 STO, Capital Raising via Security Tokens 124 SBI Group as a Trailblazer in Security Tokens 125 Growing Momentum Toward Tokenized Equities 127 Digitalization of Exchanges and Capital Markets 130 Boosting Circulation of USD- Pegged Stablecoins in Japan 131 Lending Services Offer Significant Higher Returns Than Foreign Currency Deposits 133 Promoting the Issuance and Circulation of Yen- Pegged Stablecoins 134 Advancing Foreign Currency Transactions Through Tokenized Deposits 135 Chapter 5 The Convergence of Finance and Media in the United States 137 Financial Groups Entering the Media Business 139 Elon Musk’s Ambitious XMoney 140 Easier to Tip Influencers and to Pay for Content 141 A Super App Where Everything Is Done in One App 142 What’s Beyond X’s Super App Plan? 144 The Rise of Social Trading in the United States 145 AI’s Role in Turning Finance into Content 146 Blackstone’s Acquisition of IP Content and Production Companies 147 Expanding into the E- Comic Business with Mecha Comic 150 J.P. Morgan Chase’s Start in the Media Business with a Restaurant Search Service 151 The Latest Ad Platform: Retail Media Network 152 Protecting Customers by Vetting Advertisers 154 Connected Commerce Provides an Optimal Shopping Experience 155 Robinhood, a U.S. Financial Company, Enters the Media Business 156 Digital Finance and AI Technology Act as the Adhesive Between Media and Finance 158 Why SBI Group Is Entering the Media Business 160 Sbi Neo Media Holdings’ Business Areas 162 Reasons Why Financial Groups Haven’t Entered the Media Space in Japan 165 SBI Group’s Strengths in the Media Space 167 Comprehensive Financial Information Platform from the Convergence of Finance and Media 170 The Convergence of Finance and Media Will Also Change Individuals’ Lifestyles 172 Regulations Hinder the Convergence of Media and Finance 173 We Must Be Mindful of a New Digital Divide 176 Afterword 179 About the Author 191 Index 193
Subject Areas: Finance & accounting [KF]
