Jenny Johnson, the CEO of Franklin Templeton, a colossal asset management firm with $1.6 trillion in assets, has declared that all exchange-traded funds (ETFs) and mutual funds will eventually transition to blockchain technology.

During the Milken Institute Global Conference, Johnson expressed strong optimism about blockchain's potential to revolutionize the financial industry. Franklin Templeton conducted an experiment where account records were processed simultaneously using traditional methods and blockchain for several months.

Johnson highlighted blockchain's efficiency as a distributed ledger, serving as a singular source of truth that eliminates the need for redundant verification across multiple systems. She emphasized the significant cost-saving benefits of blockchain technology, foreseeing a future where "ETFs and mutual funds will all operate on blockchain."

The CEO also pointed out that the efficiency gains from blockchain will lead to new investment opportunities and product innovations, driven by the streamlined processes and resource savings facilitated by blockchain technology. Additionally, Franklin Templeton has collaborated with Microsoft to develop an AI-powered blockchain sales assistant.