With tokenized real world assets (RWAs) market projected to reach $2 trillion by 2030, it helps to understand what we'd be dealing with in the long term.
As such, questioning if in the long-term RWAs compete as currencies seems like a pretty crucial direction to begin with.
If you fed this question into AI today, it will probably respond with some traditional-concept-influenced answer such as "a currency should fulfill monetary roles including being a medium of exchange, a unit of account and store of value" and it will most likely attempt to argue how tokenized real world assets can't fill those boats.
What do I think?
I think for starters the traditional system is collapsing.
Every concept or rule will be challenged.
Every time someone talks about tokenized RWAs, they remain with limited perspective and that sometimes comes off as comical to me.
Imagine that I tokenize a certain property I own.
People will mostly go: "so you launched a token, big deal" but that is absolutely not what happened.
What happened was that I enabled value that would generally still be locked in place to move and that reality is one what will break so much of our current financial systems.
When the value of a property, such as a house, can be tokenized, its value can effectively become a medium of exchange, store of value and accountable.
In the grand scheme of things, what I honestly see unfolding is that most financial products will become currencies to varying degrees.
Value will get passed across economies through multiple asset types.
Provided liquid exists, every on-chain asset will actively compete with traditional-known currencies.
Of course, settlement can always occur in much different assets but the first contact in most cases will always include several assets across different blockchains.