原文：Tokenization could make finance faster, but also more susceptible to shocks, IMF says
代币化是将金融资产转移到区块链环境中的过程，可以使市场变得更快、更便宜。 It could also make them more vulnerable to shocks, the International Monetary Fund (IMF) warned Thursday.
"Frictions disappear — but so do buffers," Tobias Adrian, the IMF's head of monetary and capital markets, wrote in a blog post.
代币化代表共享数字账本上的金融资产，例如股票、债券和银行存款。智能合约执行交易、转让所有权和处理付款的速度比传统金融 (TradFi) 快得多，传统金融 (TradFi) 可能需要数天时间。
在 TradFi 中，交易被执行、清算、结算和对账，每个步骤都由不同的机构处理。 A seller may not receive the proceeds and a buyer the shares for two days or more. For a tokenized asset, the process takes seconds.
“当代币化资产易手时，智能合约可以同时执行交易、转让所有权和转移支付——所有这些都在共享分类账上进行。曾经需要数天的清算和对账流程现在可以瞬间完成，”阿德里安说。