Could Blockchain-Based Fractions of Digitized Stocks Revolutionize Markets?

An anonymous reader quotes VentureBeat:
Despite being championed as a decentralized form of money that puts individuals firmly in control of their own wealth, cryptocurrencies mostly remain the preserve of the super-rich and the super-nerdy. 1,000 Bitcoin wallets currently hold 35.18% of all Bitcoins, for example, and only a select few computer scientists understand the inner workings and machinations of blockchains... Such inconvenient truths undermine the oft-repeated claim that blockchains will democratize wealth, largely by lowering barriers to entry in financial networks and by preventing central banks from devaluing money via inflation. Nonetheless, this prediction has moved one step closer to realization in recent months, with the emergence of tokenized stocks....
In contrast to a new cryptocurrency designed specifically to conform to securities legislation (i.e. a security token), tokenized stocks provide digitized versions of existing shares in established companies, such as Google, Facebook, or Apple... [W]hat's interesting and potentially radical about such digital stocks is that they permit customers to buy fractions of stocks in big companies. This will open up trading to millions of people who wouldn't otherwise be able to afford buying shares in Apple or Amazon...
One significant side effect of tokenized stocks is that they could change the fundamental nature of global stock markets and how they behave, by opening them up to round-the-clock trading... It's interesting to note that some commentators believe the growth of round-the-clock exchanges might, in the long term, result in the emergence of a single global stock market.
The article also notes that it will be cheaper to trade digital versions of stocks, 'since person-to-person trades circumvent the need to go through a broker...

'They look set to make the financial world more accessible to millions people, in addition to having serious implications for global markets.'

Read more of this story at Slashdot.