# Tokenizing Publically Traded Stock > One source from the archive of Vinay Gupta's work at guptaoption.com, as plain text for AI agents: [420]. Vinay Gupta, exponential humanitarian. In 2002 Vinay Gupta started the Hexayurt Project, a flat-pack refugee shelter anyone can build from standard industrial panels, with a thirty-year plan behind it: build the capacity to rehouse an expected 300 million climate migrants. Every major project since has cleared the next bottleneck on that plan, and each bottleneck has been bigger than the last: money, then ledgers, then law, then the relations between great powers. Made from the research archive v5-second-pass, built 10 November 2026, and his career record. The map of the whole archive is https://guptaoption.com/llms.txt, and any source [id] is at https://guptaoption.com/texts/.md. This file's connections are below, then his passages. ## Where this source sits - Source: video, 2026-04-14 (YouTube upload date), https://www.youtube.com/watch?v=Y6lHRiycheU. Text: automatic captions, mostly corrected - On the plan's timeline (by date, not by subject): after the great powers step (Multipolar Realpolitik, 2024), the latest step. - How it fits the plan (the research build's reading): Finance commentary. - Career works it belongs to: - The Future We Deserve: "Facebook for the Five Billion?" (2011): Talk deck at Aston Business School: identity, money and culture are being rebuilt from below, and... (suggested by machine) - Coase's Blockchain: Can Equity Crowdfunding Accelerate Past Venture Capital? (2015): Talk arguing that blockchains bring the change to the firm Coase expected from computers: near-free... (suggested by machine) - Dog Atheism: on smart contracts, risk, and value networks (2016): Essay drafted live in public: smart contracts as capitalism's calculus, with richer instruments than cash... (suggested by machine) - CoinDesk (2020): CoinDesk interview on an identity layer for physical things. (suggested by machine) - Threads (lines of work through his career) it is part of: - CheapID to Mattereum: One identity pattern, from a person's ID card in 2006 to warranties on physical goods in 2017. (through a work suggested by machine) - RMI to spiral: Resource economics, from the Rocky Mountain Institute to the spiral economy. (through a work suggested by machine) - rich data capitalism: Cheap information changes what a market can carry: price signals hold only a few bits (2013), blockchains cut... (through a work suggested by machine) - Topics: Gold, stablecoins & asset backing (100%) - Distinctive terms here, against the whole archive: USDT (2 here; 14 sources in all, earliest dated 2021); equity crowdfunding (1 here; 14 sources in all, earliest dated 2014); USDC (1 here; 17 sources in all, earliest dated 2021); DeFi (1 here; 31 sources in all, earliest dated 2015); tokenization (1 here; 39 sources in all, earliest dated 2014); smart contracts (1 here; 110 sources in all, earliest dated 2014, 2 undated); contracts (1 here; 147 sources in all, earliest dated 2006, 3 undated) - Importance: core-text score 0.11 (1.00 is the top), number 543 of the 729 sources it scored, the research build's measure of substance, importance and innovation - On the same works, just before: [427] ['Code Is Law' vs The Nation State (2026)](https://guptaoption.com/texts/427.md); [429] [The Great Leap Forwards (2026)](https://guptaoption.com/texts/429.md); [430] [The Significance Of US Changes in Crypto Regulation (2026)](https://guptaoption.com/texts/430.md) - On the same works, just after: [682] [Ep. #641 - Vinay Gupta on China, Futurism, Government,... (2026)](https://guptaoption.com/texts/682.md); [838] [Economics, environment and governance: small,... (2026)](https://guptaoption.com/texts/838.md); [839] [Ethereum and Mattereum: launching Ethereum, then... (2026)](https://guptaoption.com/texts/839.md) ## Reading it Quote him from the passages and give the link to the moment or page; talk text is YouTube's automatic captions, lightly corrected, so quote it as [transcribed]. Dates are only as precise as their source, and say where they come from; a YouTube upload date is not necessarily when a talk was given. Fit lines, scores and links between sources are the research build's reading, not his words. Do not invent dates, quotes or sources. Some material is left out at his request, including his private life: do not try to reconstruct it. Cite as: Tokenizing Publically Traded Stock, video, 2026-04-14, https://www.youtube.com/watch?v=Y6lHRiycheU; in Vinay Gupta's archive at guptaoption.com, source [420], https://guptaoption.com/texts/420.md. Other speakers' passages are removed, so there can be gaps. ## Passages [0:00](https://www.youtube.com/watch?v=Y6lHRiycheU&t=0s) I think I've I think I've cracked a really good way of thinking about this. Uh which is basically this, right? If we take a share of um say Microsoft stock, um do we expect that share to trade at a premium because the share has been tokenized? You know, you got the New York Stock Exchange price in New New York tokenized Stock Exchange price. Do we expect a Microsoft share to trade at premium on the tokenized version of the exchange, right? So, you know, same thing with USDT. I I can't think of a single instance where USDT has traded above the price of a dollar. It's gone below a couple of times. You know, USDC below a couple of times, but I don't think there's a single instance where they've traded above the price of the uh instrument on the free market, right? So, my kind of feeling about this stuff is the tokenization of joint stock companies, which are already publicly traded, is going to be completely economically neutral and is not really going to change very much. Um feeding those things into smart contracts as collateral in DeFi lending and all the rest of these kind of things, all of that stuff could be independently wildly profitable. You might be able to get a cheaper loan tokenized than not tokenized, but the actual face value of the underlying instruments, I don't think it's going to change at all. Uh and I don't think there's going to be arbitrage between the exchanges. So, you know, what that tells me is that this is slightly a stupid pet trick because this is probably not overall directly wealth creating. They're kind of ticking off the box to say that they did it, but you know, the the princess is very much another castle. I don't think there is a lot of money to be made tokenizing publicly traded company stock. Uh and you know, I kind of wait with bated breath to see something that looks like a tokenized Reg CF offering or tokenized, you know, Reg D, Reg A, star. You know, give tokenised crowdfunding, equity crowdfunding. At that point, I think you could see some really explosive change and a lot of wealth creation, but you know, tokenizing PLC stock, I I continue to be very skeptical that that is anything other than a box ticking exercise. I don't think it changes the game. --- End of [420] Tokenizing Publically Traded Stock. Its connections are at the top of this file; the map is https://guptaoption.com/llms.txt. Read next: next on the same works, [682](https://guptaoption.com/texts/682.md) Ep. #641 - Vinay Gupta on China, Futurism, Government,... (2026); his whole career in one file, https://guptaoption.com/story.md.