Author: rb809rb

  • BBC Says Scott Mills Was Fired After ‘New Information’ Came to Light, Confirms It Knew About Prior Police Investigation: ‘We Are Doing More Work to Understand the Detail’

    BBC Says Scott Mills Was Fired After ‘New Information’ Came to Light, Confirms It Knew About Prior Police Investigation: ‘We Are Doing More Work to Understand the Detail’

    The BBC has admitted that it was aware of a police investigation into allegations Scott Mills engaged in sexual offenses involving a teenage boy.

    One of the BBC’s top radio presenters, Mills was dismissed on Tuesday, seemingly out of the blue. It soon emerged he had been questioned by police in 2018 in relation to the allegation.

    Now the BBC has said that despite being aware of the investigation, it hired him last year to takeover from Zoe Ball on its flagship program “The Breakfast Show.”

    “Scott Mills had a long career across the BBC, he was hugely popular and we know the news this week has come as a shock and surprise to many,” a spokesperson for the BBC said in a statement on Wednesday. “We also recognise there’s been much speculation in the media and online since Monday. We hope people understand that there is a limit to what we can say because we have to be mindful of the rights of those involved.”

    “What we can confirm is that in recent weeks, we obtained new information relating to Scott and we spoke directly with him. As a result, the BBC acted decisively in line with our culture and values and terminated his contracts on Friday 27 March.”

    “The BBC has made a significant commitment to improve its culture, processes and standards. Last year, following an independent culture review, we set out the behavioural expectations for everyone who works with or for the BBC and we were clear action would be taken if these were not met. Separately, we can confirm the BBC was made aware in 2017 of the existence of an ongoing police investigation, which was subsequently closed in 2019 with no arrest or charge being made. We are doing more work to understand the detail of what was known by the BBC at this time.”

    The broadcasting corporation, which celebrated its centenary in 2022, has been under increasing scrutiny after a string of its top talent has been investigated by police for sexual offenses and in some cases charged. They include top news anchor Huw Edwards, who was convicted of possessing indecent images of children, TV and radio host Russell Brand, who is set to stand trial later this year for rape and sexual assault (which he denies), TV presenter Rolf Harris, who died in 2023 after serving prison time for sexual assault, and DJ Tim Westwood, who was accused of multiple counts of sexual misconduct, which he denies.

    The most infamous sexual offender at the BBC remains TV presenter and radio DJ Jimmy Savile, whose decades of prolific sexual abuse came to light only after his death in 2011.

  • Mahesh Babu’s ‘Athadu,’ Vidhu Vinod Chopra Titles and Hollywood Classics ‘My Fair Lady,’ ‘West Side Story’ Lead Prasad Corp’s Bid to Turn India Into a Global Restoration Hub (EXCLUSIVE)

    Mahesh Babu’s ‘Athadu,’ Vidhu Vinod Chopra Titles and Hollywood Classics ‘My Fair Lady,’ ‘West Side Story’ Lead Prasad Corp’s Bid to Turn India Into a Global Restoration Hub (EXCLUSIVE)

    India holds one of the world’s largest film archives. Abhishek Prasad believes it is also one of the industry’s most underexploited commercial goldmines.

    The director and CTO of Prasad Corp is not the only one making that argument. The NFDC-National Film Archive of India has been digitizing titles under the government-backed National Film Heritage Mission, while Shivendra Singh Dungarpur’s Film Heritage Foundation has spearheaded landmark restorations of classics including Bimal Roy’s “Do Bigha Zamin” and Girish Kasaravalli’s “Ghatashraddha,” the latter in partnership with Martin Scorsese’s Film Foundation World Cinema Project. But where those efforts have been driven primarily by cultural imperatives, Prasad sees restoration increasingly as a commercial proposition – and one with global reach.

    The Chennai-based post-production house has recently completed 8K restorations of a slate of Indian classics including “3 Idiots,” “Munnabhai MBBS,” “Lage Raho Munnabhai,” “1942: A Love Story,” and “Mission Kashmir,” drawn from the catalogue of Vidhu Vinod Chopra Productions, and “Athadu” headlined by Telugu-language cinema superstar Mahesh Babu. The company has also carried out 8K restoration work on classic Hollywood titles including “My Fair Lady” and “West Side Story.”

    “When we restore a film in 8K, what we are really doing is rediscovering the extraordinary detail that already exists within the original film negative,” Prasad tells Variety. “Film as a medium contains far more visual information than earlier digital formats were able to capture.”

    For titles such as “3 Idiots” or “Munnabhai MBBS,” the stakes go beyond technical quality. “These are not just films – they are cultural milestones,” Prasad says. “Preserving them in 8K ensures that they remain visually relevant for decades to come, whether they are screened in theaters, streamed globally, or archived for future formats that may emerge.”

    The commercial logic behind high-resolution restoration has sharpened considerably as streaming platforms have come to depend on catalogue depth. Rights holders who once treated older films as passive assets are now managing them as long-term intellectual property portfolios, with restoration serving as the mechanism to unlock that value. “A properly restored film becomes technically viable for modern distribution channels,” Prasad says. “Catalogues that might once have been dormant are now being actively monetized.”

    Restoration, in Prasad’s framing, effectively resets the commercial lifecycle of a film. A title restored to 8K with immersive audio can be re-licensed to global streaming platforms, re-released theatrically for anniversaries, programmed at festivals, or introduced to markets it never reached in its original run. “Restoration becomes the bridge that connects India’s cinematic past with the global digital distribution ecosystem of today,” he says.

    The technical bar for such work is considerable. Prasad describes the 8K process as involving frame-by-frame repair, careful preservation of the film’s natural grain structure – which he distinguishes from noise, calling it “an essential part of the film’s visual character” – and preparation for HDR color spaces, high-dynamic-range displays and immersive audio formats such as Dolby Atmos. On working on Hollywood classics such as “My Fair Lady” and “West Side Story,” he says, “Projects of this nature demand an exceptional level of technical precision and respect for cinematic heritage.”

    The scale of what remains unrestored in India is significant. Film negatives deteriorate through humidity, chemical decay and physical damage, and without timely intervention, important works risk being lost entirely. Prasad points to the National Film Heritage Mission as a crucial public-sector effort, while arguing that private studios and rights holders must also invest. “If approached systematically, India could potentially restore thousands of films over the coming decades,” he says, “ensuring both cultural preservation and renewed commercial value.”

    Prasad Corp counts itself among a small number of facilities globally capable of offering end-to-end restoration services, covering physical film repair, chemical treatment, high-resolution scanning, digital restoration, colour grading and sound remastering. The company’s longer-term ambition is for India itself to emerge as a hub within the global preservation ecosystem.

    “With the scale of our film heritage and the technical expertise that has developed in the country,” Prasad says, “India has the potential to contribute meaningfully to the global ecosystem of restoring and preserving cinema for future generations.“​​​​​​​​​​​​​​​​

  • Japanese Giant Company, Attracting Attention with Ripple (XRP) Moves, Will Start Using a Surprise Altcoin Network!

    Japanese Giant Company, Attracting Attention with Ripple (XRP) Moves, Will Start Using a Surprise Altcoin Network!

    Japanese banking giant SBI Holdings continues to make significant strides in the cryptocurrency sector.

    At this point, SBI’s subsidiary B2C2 chose Solana (SOL) for its institutional stablecoin payments.

    B2C2, the cryptocurrency market maker acquired by Japanese financial giant SBI Holdings in 2020, will now primarily route and finalize large-scale stablecoin transactions for its institutional clients through Solana.

    B2C2 stated that they will support Solana-based $USDC, USDT, PYUSD, USDG, USD1, EURC, and FDUSD, and “also support other stablecoins mined on Solana and occasionally backed by B2C2.”

    B2C2 Group CEO Thomas Restout stated, “Solana has solidified its position as a fundamental financial infrastructure. We support real-world flow here because it delivers what matters to our customers – speed, reliability, and scale. The future of payment processing is moving in this direction.”

    Although Solana lags behind Ethereum (ETH) and Tron (TRX) in terms of stablecoin market capitalization, its usage is steadily increasing.

    Indeed, many large institutions have begun using Solana for their stablecoin needs. Late last year, Visa started using Solana for $USDC payments for US banks, while Mastercard, PayPal, SoFi, Western Union, and Worldpay also have Solana integration.

    B2C2, a key marketplace provider for companies like Robinhood, recently announced partnerships with firms such as Anchorage Digital, Bitget, and Standard Chartered.

    *This is not investment advice.

  • Zcash Vulnerability That Put Millions of Dollars of ZEC at Risk Has Been Fixed

    Zcash Vulnerability That Put Millions of Dollars of ZEC at Risk Has Been Fixed

    In brief

    • A security researcher discovered a critical vulnerability in Zcash nodes that bypassed proof verification for the deprecated Sprout shielded pool.
    • Major mining pools deployed the patch within three days, with Zcash developers releasing v6.12.0 on Tuesday.
    • Zcash’s “turnstile” mechanism would have prevented broader supply inflation even if the pool had been compromised.

    A security researcher discovered a critical vulnerability in Zcash nodes that could have allowed malicious miners to drain more than 25,000 ZEC from the network’s deprecated Sprout shielded pool—a sum worth about $6.5 million at writing.

    Alex “Scalar” Sol disclosed the flaw on March 23, according to a disclosure report released Tuesday, revealing that zcashd nodes were skipping proof verification for transactions involving the legacy Sprout pool. The bug was not exploited and all users’ funds remain safe, according to the disclosure.

    The vulnerability spanned releases from July 2020 through the present, with Zcash developers releasing v6.12.0 on Tuesday to contain the fix. Major mining pools moved quickly to patch their systems—Luxor mining pool confirmed deployment on March 25, while F2Pool, ViaBTC, and AntPool all deployed the fix by March 26, according to the same report.

    The Zebra full node implementation was not affected by the vulnerability, the report said, and would have triggered a chain fork if exploitation had been attempted, providing an additional layer of network protection.

    Sol, who discovered the vulnerability using AI assistance, reported it to Shielded Labs on March 23. The organization coordinated with the Zcash Open Development Lab (ZODL), whose engineer Jack “str4d” Grigg authored the patch.

    For his disclosure, Sol will receive a 200 ZEC total bounty—valued above $51,000—with Shielded Labs, ZODL, the Zcash Foundation, and Bootstrap each contributing 50 ZEC.

    The Sprout pool was closed to new deposits in November 2020, making it a deprecated but still-active component holding approximately 25,424 ZEC that users have not yet migrated to newer shielded pool versions.

    While the vulnerability could have allowed draining these funds, the Zcash Open Development Team (ZODL) said that Zcash’s “turnstile” mechanism would have prevented broader supply inflation. The turnstile requires that any coins leaving the Sprout pool must have verifiably entered it, creating a safeguard against the creation of new tokens beyond the network’s total circulation of around 16.63 million ZEC.

    This isn’t the first big vulnerability that the network has faced. Back in 2019, the network patched a bug described as an “infinite counterfeit” crypto generator, though it was patched out before becoming a major issue for the privacy coin network.

    Zcash is the biggest gainer over the last 24 hours among the top 100 coins by market cap, per CoinGecko data, rising more than 14% to a recent price above $255. The price of the privacy coin skyrocketed last fall from a price of about $50 to a multi-year peak near $700, but has fallen alongside Bitcoin and other cryptocurrencies in recent months.

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  • Latin America’s Mercado Libre Pulls the Plug on Its Crypto Coin

    Latin America’s Mercado Libre Pulls the Plug on Its Crypto Coin

    In brief

    • Mercado Libre killed Mercado Coin after a failed four-year experiment.
    • The company’s stablecoin is replacing the Mercado Coin loyalty token.
    • Nubank’s Nucoin collapse shows industry-wide failure of reward tokens.

    Latin America’s e-commerce giant quietly killed its ERC-20 loyalty token four years in—while Nubank’s Nucoin already died the same death.

    Mercado Libre is shutting down Mercado Coin. The company—which is bigger than Amazon in Latin America—announced through its Mercado Pago wallet that the token will stop functioning on April 17.

    Users holding the coin have three options: Sell it through the app, spend it as purchase credit on the platform, or do nothing and wait for it to be auto-converted to local fiat. Mercado Libre didn’t explain the decision in its customer notice. The company did not respond to Decrypt‘s request for comment.

    Mercado Coin launched in August 2022 in Brazil as an ERC-20 token on Ethereum, built along with crypto exchange Ripio. The idea was simple: buy selected products on the marketplace, earn tokens, use them on future purchases, or cash out. It never really caught on.

    The token expanded to other markets after its Brazilian debut, but it never built a meaningful base. It lived and died as a curiosity—a loyalty points system with extra steps and a dose of volatility.

    That last part is likely why Mercado Libre isn’t abandoning crypto altogether—it’s just changing what kind of crypto it bets on.

    In August 2024, the company launched MeliDolar (MUSD), a stablecoin pegged to the U.S. dollar. It’s also built with Ripio, and also accessible through Mercado Pago. The key difference is, of course, the price of MeliDolar doesn’t move. It’s backed by U.S. Treasury securities and dollar deposits, and its value sits exactly where users expect it to.

    MeliDolar is also the backbone of the company’s Meli Plus loyalty program. Members get it as cashback on purchases. They can spend it back on the platform, sell it in the app with no fees, or just hold it as a dollar hedge—a genuinely useful feature for Brazilian and Mexican consumers watching their local currencies lose ground. This was the logical step after a brief experiment allowing users to experiment with Paxos’ Stablecoin.

    Mercado Libre isn’t alone in learning this lesson the hard way. Nubank—Brazil’s largest bank, a fully digital neobank with over 100 million customers in Brazil alone—ran the same experiment at the same time. Nucoin launched in 2023 on Polygon, airdropped to its massive user base as a loyalty and rewards token.

    It subsequently collapsed 97% in value. Nubank suspended trading in September 2024, gave holders 90 days to convert their coins to Bitcoin or USDC, and shut the whole thing down by December. Sixteen million users were left holding the bag, sweetened only by a prize campaign the bank ran to take the edge off.

    Mercado Libre still holds more than $38 million in Bitcoin on its balance sheet and continues to offer crypto trading and stablecoin transfers through Mercado Pago. The infrastructure is staying—but not the coin nobody was really using anyway.

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  • Odessa A’zion, Ewan Mitchell, Cherry Jones and Benedict Wong Join Justine Triet’s English-Language Thriller ‘Fonda’ for Studiocanal, MK2 (EXCLUSIVE)

    Odessa A’zion, Ewan Mitchell, Cherry Jones and Benedict Wong Join Justine Triet’s English-Language Thriller ‘Fonda’ for Studiocanal, MK2 (EXCLUSIVE)

    Oscar and Palme d’Or-winning “Anatomy of a Fall” director Justine Triet has expanded the cast for her next feature and full English-language debut.

    “Fonda” was first announced prior to Berlin Film Festival with Mia Goth (“Frankenstein”), Andrew Scott (“All of Us Strangers”), Frank Dillane (“Urchin”) and Nathan Stewart-Jarrett (“Candyman”) signed up to star and Allison Janney (“The West Wing,” “I Tonya”) in talks.

    Now, Janney has officially joined the cast in addition to “Marty Supreme” breakout Odessa A’zion, fast-rising British star Ewan Mitchell (“House of the Dragon,” “Wuthering Heights”), three-time Emmy winner Cherry Jones (“24,” “The Handmaid’s Tale”) and established U.K. actor Benedict Wong (“Weapons,” “Doctor Strange”). Shooting is scheduled from April to June.

    According to its synopsis, “Fonda” is a “psychological thriller set in a seemingly idyllic huis clos,” set to take audiences “on a vertiginous dive into the shifting limits of a sound mind, as grief and obsession take hold.”

    “Fonda” reunites writer-director Triet with both her “Anatomy of a Fall” producers Marie-Ange Luciani (Les Films de Pierre) and David Thion (Les Films Pelléas), as well as sales agent MK2 Films. Delphine Tomson, Jean-Pierre and Luc Dardenne’s Belgian company Les Films du Fleuve (“Rosetta”) are co-producing the film. U.K. partners House Productions (“Conclave,” “The Zone of Interest”) and BBC Film have also joined the project as co-producers.

    MK2 Films (“Sentimental Value”) is handling international sales and is also financing and co-producing, alongside Studiocanal’s Anna Marsh, Francois Mergier and Assia Barge. Nathanaël Karmitz, Elisha Karmitz and Fionnuala Jamison are also credited as producers. Studiocanal will distribute “Fonda” theatrically in its own territories including France, Germany, Italy, Benelux, Poland, Australia and New Zealand. IPR.VC, with which MK2 Films has a multi-year financing deal, is also a financier. Casting for the film has been assembled by Cynthia Arra (“Anatomy of a Fall”) and Kharmel Cochrane (“Saltburn”). 

  • Dubai-Based Storyfied Ventures Launches as ‘First’ Strategic Brand Entertainment Outfit in Middle East

    Dubai-Based Storyfied Ventures Launches as ‘First’ Strategic Brand Entertainment Outfit in Middle East

    A new Dubai-based company called Storyfied Ventures dedicated to strategic partnerships between brands and entertainment content in the Middle East and North Africa (MENA) region is being launched by producer and marketing executive Casper Shirazi. 

    The startup outfit is being touted as “the region’s first strategic brand-entertainment partner built for the realities of a fast-shifting media and advertising landscape,” according to a statement.

    Storyfied Ventures will operate “across film, television, documentaries, creator content, music-led entertainment, kids content, and branded storyworld extensions,” the statement said.

    The company aims to “help brands turn their stories into monetisable intellectual property, with screen-IP as the anchor – then extend into consumer products, licensing, and other business lines where relevant,” it added.

    Storyfied Ventures is backed by a board of directors comprising Catherine Barr, who is global head of marketing at Saudi Arabia’s Public Investment Fund (PIF) and a former global expansion and brand strategy leader for HBO Max; and Los Angeles-based entertainment lawyer Joseph Lanius. Lanius will serve as Storyfied Ventures’ business affairs lead through his Convergence Media Law firm. His production credits include upcoming Mark Waters-directed “Hershey” movie.  

    Shirazi’s production credits include upcoming foodie comedy “Holy Molé” toplining Tim Roth and Cristo Fernández.

    “In today’s ultra-fragmented media landscape, brands need a true 360-degree relationship with audiences, and that only happens when storytelling is built as IP,” Shirazi noted in the statement.

    “Short-form can drive discovery, but long-form screen content is what holds attention, deepens engagement, and creates lasting affinity. That’s the gap in the region today: there is no shortage of content, but there is a shortage of owned narrative IP that can extend brand relevance and turn audiences into advocates.”

    Shirazi continued: “Our region is living through an incredibly difficult and defining period. But it is also entering a new one. Even in uncertain times, we are certain that this is the right place and the right time for Storyfied – when brand voices matter more than ever to help restore confidence, build trust, and connect more deeply with audiences. In what comes next, trust will be earned through the stories we tell. That’s why we now exist: to help define a new content economy for the region – built on brand-owned IP.”

  • What to expect from WWDC 2026

    WWDC 2026, the latest version of Apple’s yearly developer conference, runs from June 8-12, and by all appearances the company has some important updates to outline. In comparison to Liquid Glass, the design material Apple introduced last year and now uses across all its operating systems, the new features the company is rumored to announce might not be aesthetic, but they could make just as big of a splash. Namely because Apple might finally be ready to show off its second stab at an overhauled version of Siri.

    If you’re curious to see the company’s new plans for yourself, you can watch Apple’s WWDC 2026 keynote live on its website, YouTube channel or the Apple Developer Bilibili channel in China. Apple will also host its Platforms State of the Union stream and individual developer workshops on its developer website if you want to learn even more details about the software updates the company will release later this year. Luckily, we do have some sense of what Apple has in store, and it looks like stability improvements and AI are the company’s big focuses for the updates coming to iOS, iPadOS, macOS, watchOS, visionOS and tvOS this fall.

    A Snow Leopard-esque approach to stability and performance

    Apple released Mac OS X Snow Leopard in 2009, primarily as a way to clean up the performance and refine the new features the company released with Mac OS X Leopard two years prior. The decision to essentially “take a year off” to focus on making everything about the company’s desktop operating system feel better was well-received, and Apple is apparently planning to have iOS 27 serve a similar role.

    Bloomberg reports that Apple’s upcoming update will be “focused on improving the software’s quality and underlying performance” and that the company’s “engineering teams are now combing through Apple’s operating systems, hunting for bloat to cut, bugs to eliminate and any opportunity to meaningfully boost performance and overall quality.” Those fixes will presumably extend to the company’s other operating systems, too.

    Some of this effort may also be focused on cleaning up the visual changes introduced in Apple’s big switch to Liquid Glass. The design overhaul has been controversial among the company’s diehard fans, and Apple has already introduced tweaks in updates that arrived after the release of iOS 26 to make Liquid Glass interfaces more legible. Bloomberg reports the company could go a step further in its next updates and add a system-wide slider that will allow users to adjust the intensity of Liquid Glass (visual effects like translucency and reflectivity) they want in the interface.

    The chatbot-ification of Siri

    While stability and performance improvements will be a major focus of this year’s updates, Apple is also rumored to be making some major changes to Siri. When the company first introduced Apple Intelligence at WWDC 2024, it promised to launch an updated version of the voice assistant that could use your personal context (like the information securely stored on your iPhone) to act across apps. Apple delayed those features in March 2025 and then announced a partnership with Google in January 2026 to use Gemini models to presumably make them possible.

    Those features might finally arrive in this year’s updates, but Apple is reportedly also changing how users interact with Siri by making the assistant more like a chatbot, according to Bloomberg. This would make the assistant more interactive and natural to speak to, and could open up other possibilities, like letting users direct Siri to perform two actions at the same time. Developers will reportedly also be able to integrate their own AI assistants with Siri, much like OpenAI has with ChatGPT.

    New places to talk to AI

    The chatbot version of Siri will be accessible in the usual ways, but also reportedly through a standalone Siri app. The new app will let users prompt the assistant to take care of tasks on their device, search the web and even access news, not unlike current Gemini and ChatGPT apps. Bloomberg writes that the app will also be a way to review past conversations with Siri and receive suggestions of prompts to try with the new chatbot version of the assistant.

    Users will also be able to interact with Siri inside Apple’s other apps via a new feature called “Ask Siri.” This may appear as an option in app menus, and allow you to ask the AI assistant questions about content in the app. It’s not clear if this will be as in-depth or capable as Google’s Ask Maps or Ask Photos features, but it at least seems like Apple’s thinking along the same lines as its partner.

  • An immersive ‘Black Mirror Experience’ is launching in Montreal

    Banijay is launching the Black Mirror Experience, starting with Montreal in May with additional locations to be announced in the future. Specifically, it will be produced by Banijay Live Studio, the new subsidiary of the production company that owns Black Mirror, in partnership with VR firm Univrse. The studio describes it as an interactive virtual reality experience that blends “physical space and VR… designed to blur the lines of fiction and reality in which you become the main character.” While it is based on the hit TV show, you apparently don’t need any prior knowledge of the series to be able to enjoy it.

    The experience, which will span 60 minutes, can accommodate one person and groups of up to six people. Players 12-years-old and above are welcome to participate. It puts the players in the showroom of a fictional tech giant called Phaethon that’s unveiling the LifeAgent, a robotic AI companion that’s supposed to make their owners’ life easier. LifeAgent does a full-body scan of its owner so it would know their needs before they do. But in true Black Mirror fashion, “once it sees through [their] eyes, it knows exactly how to help… whether [they] asked it to or not.”

    You can take part in the event at Infinity Experiences in Montreal, where you’ll be able to play it in French, English and Spanish.

  • Grayscale’s research head says tokenization will happen in waves and explains how to play it

    Grayscale’s research head says tokenization will happen in waves and explains how to play it

    Tokenization has become one of crypto’s favorite buzzwords, but Grayscale head of research Zach Pandl said investors should think about it less as a single trade and more as a long roadmap with different winners at different stages.

    Speaking at EthCC conference in Cannes, France, Pandl said that the trend is still in its infancy. Tokenized assets — the process of using blockchain rails to settle, transfer and record ownership of all kinds of financial assets such as bonds, funds and equities — is rapidly growing. However, currently at $27 billion, it still represents roughly 0.01%, a tiny fraction, of global capital markets. That’s projected to swell to near $19 trillion by 2033, according to BCG and Ripple.

    Big banks and asset managers already understand the opportunity. “The two things that institutions are aware of are stablecoins and tokenization,” Pandl said. But they are still trying to figure out where to allocate capital to actually benefit from these innovations.

    From here, Pandl expects tokenization to unfold in phases, with different types of networks and models capturing value at each stage.

    The first winners, he said, may be projects that look more like traditional finance, not less.

    “In the early stages of the tokenization process, you will see things that have success that look more similar to how the financial system works today,” he said.

    That means institution-centric, permissioned systems that solve practical issues like privacy, identity and control.

    Pandl pointed to the Canton Network (CC), backed by Wall Street giants like DRW, TradeWeb, Goldman Sachs and Nasdaq, as a potential winner in this early phase of tokenization.

    He said it is “a perfectly reasonable investment” for investors who want nearer-term traction, even if Canton’s approach represents only “a slightly different, slightly upgraded version” of today’s financial system.

    The second phase

    The second phase of tokenization could be a hybrid model where we have both institution-owned blockchains and a global shared state, with those networks interconnected and speaking to each other. One example for that is Avalanche (AVAX), with hundreds of sovereign, corporate-owned chains (called subnets) live but connected to a primary, layer-1 network.

    Ethereum’s ether ($ETH), in his view, is the bigger but slower bet. Pandl said he believes the market will eventually move toward “global decentralized finance,” but added that “the tech is not fully ready” and that institutions are not ready either.

    That makes $ETH the more ambitious investment for those willing to wait for the longer-term shift away from financial intermediaries.

    There are also picks-and-shovels plays. Pandl highlighted chain-agnostic service providers such as Chainlink as another way to get exposure, saying they may be “even more compelling” than some blockchains.

    Read more: How tokenized assets could become a $400 billion market in 2026