{"id":99348,"date":"2026-02-13T00:18:14","date_gmt":"2026-02-12T23:18:14","guid":{"rendered":"https:\/\/www.infokuryr.cz\/n\/?p=99348"},"modified":"2026-02-12T11:07:10","modified_gmt":"2026-02-12T10:07:10","slug":"tokenizace-je-ustrednim-tematem-svetoveho-ekonomickeho-fora-kde-se-centralni-banky-a-vlady-pripravuji-na-prechod-k-nove-fyzice-penez","status":"publish","type":"post","link":"https:\/\/www.infokuryr.cz\/n\/2026\/02\/13\/tokenizace-je-ustrednim-tematem-svetoveho-ekonomickeho-fora-kde-se-centralni-banky-a-vlady-pripravuji-na-prechod-k-nove-fyzice-penez\/","title":{"rendered":"Tokenizace je \u00fast\u0159edn\u00edm t\u00e9matem Sv\u011btov\u00e9ho ekonomick\u00e9ho f\u00f3ra, kde se centr\u00e1ln\u00ed banky a vl\u00e1dy p\u0159ipravuj\u00ed na p\u0159echod k \u201enov\u00e9 fyzice pen\u011bz\u201c"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n<div class=\"elementor-element elementor-element-1fb4c2c elementor-widget elementor-widget-theme-post-content\" data-id=\"1fb4c2c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-content.default\">\n<div class=\"elementor-widget-container\">\n<p><strong><span dir=\"auto\">\u201eNakonec bude v\u011bt\u0161ina v\u011bc\u00ed existovat v digit\u00e1ln\u00ed podob\u011b, v\u010detn\u011b re\u00e1ln\u00fdch aktiv. A nepochybuji o tom, \u017ee nakonec bude v\u0161echno existovat v digit\u00e1ln\u00ed, digitalizovan\u00e9 podob\u011b.\u201c<\/span><\/strong><\/p>\n<p><em><span dir=\"auto\">N\u00e1sleduj\u00edc\u00ed zpr\u00e1va se objevila v nejnov\u011bj\u0161\u00edm \u010d\u00edsle \u010dasopisu\u00a0<\/span><\/em><strong><em><span dir=\"auto\">Revive The Table.<\/span><\/em><\/strong><\/p>\n<p><span dir=\"auto\">Rok 2026 bude pro tokenizaci kl\u00ed\u010dov\u00fd. Po letech mal\u00e9 diskuse a v\u011bt\u0161in\u011b aktivit prob\u00edhaj\u00edc\u00edch v z\u00e1kulis\u00ed se proces tokenizace a modern\u00ed platebn\u00ed metody diskutovaly na leto\u0161n\u00edm Sv\u011btov\u00e9m ekonomick\u00e9m f\u00f3ru v Davosu ve \u0160v\u00fdcarsku, kde centr\u00e1ln\u00ed a hlavn\u00ed bank\u00e9\u0159i, soukrom\u00ed investo\u0159i, spr\u00e1vci kryptom\u011bn a dal\u0161\u00ed diskutovali o rychle se vyv\u00edjej\u00edc\u00edm finan\u010dn\u00edm sv\u011bt\u011b.<\/span><\/p>\n<p><span dir=\"auto\">P\u0159esto\u017ee se b\u011bhem leto\u0161n\u00edch diskus\u00ed vyj\u00e1d\u0159ily r\u016fzn\u00e9 n\u00e1zory, jedna v\u011bc byla jasn\u00e1: Tokenizace vstoup\u00ed do ve\u0159ejn\u00e9 sf\u00e9ry po cel\u00e9m sv\u011bt\u011b mnohem rychleji, ne\u017e si lid\u00e9 uv\u011bdomuj\u00ed.<\/span><\/p>\n<p><em><strong><span dir=\"auto\">Pokud jste tak je\u0161t\u011b neu\u010dinili, p\u0159e\u010dt\u011bte si pros\u00edm p\u0159edchoz\u00ed \u010dl\u00e1nky o RTB, abyste se s t\u00edmto konceptem sezn\u00e1mili:<\/span><\/strong><\/em><\/p>\n<ul>\n<li><a href=\"https:\/\/thewinepress.substack.com\/p\/tokenization-trump-administration\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><span dir=\"auto\">Tokenizace: Trumpova administrativa chce zav\u00e9st digit\u00e1ln\u00ed identifika\u010dn\u00ed \u00fadaje na podporu digit\u00e1ln\u00edho dolaru a tokenizovan\u00fdch aktiv, co\u017e povede ke ztr\u00e1t\u011b finan\u010dn\u00ed svobody.<\/span><\/strong><\/a><\/li>\n<li><a href=\"https:\/\/thewinepress.substack.com\/p\/tokenization-united-nations-publishes\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><span dir=\"auto\">Tokenizace: Organizace spojen\u00fdch n\u00e1rod\u016f zve\u0159ej\u0148uje nov\u00fd r\u00e1mec pro digit\u00e1ln\u00ed identifika\u010dn\u00ed \u00fadaje, jeliko\u017e sv\u011bt postupn\u011b usiluje o vynucov\u00e1n\u00ed soci\u00e1ln\u00edho kreditn\u00edho sk\u00f3re.<\/span><\/strong><\/a><\/li>\n<li><a href=\"https:\/\/thewinepress.substack.com\/p\/tokenization-blackrocks-larry-fink\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><span dir=\"auto\">Tokenizace: Larry Fink z BlackRock \u0159\u00edk\u00e1: \u201eJsme na za\u010d\u00e1tku tokenizace v\u0161ech aktiv\u201c a zast\u00e1v\u00e1 se nutnosti digit\u00e1ln\u00edch identifik\u00e1tor\u016f pro vytvo\u0159en\u00ed soci\u00e1ln\u00edho kreditn\u00edho ratingu.<\/span><\/strong><\/a><\/li>\n<li><a href=\"https:\/\/thewinepress.substack.com\/p\/tokenization-the-trivergence-of-blockchain?utm_source=publication-search\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><span dir=\"auto\">Tokenizace: \u201eTrivergence\u201c blockchainu, um\u011bl\u00e9 inteligence a internetu v\u011bc\u00ed tokenizovala v\u0161e a ka\u017ed\u00e9ho v dystopick\u00e9m sv\u011bt\u011b.<\/span><\/strong><\/a><\/li>\n<li><a href=\"https:\/\/thewinepress.substack.com\/p\/tokenization-how-tokenizing-all-assets?utm_source=publication-search\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><span dir=\"auto\">Tokenizace: Jak tokenizace v\u0161ech aktiv napl\u0148uje model stakeholdersk\u00e9ho kapitalismu Sv\u011btov\u00e9ho ekonomick\u00e9ho f\u00f3ra, zat\u00edmco Larry Fink z BlackRocku a dal\u0161\u00ed elity se sna\u017e\u00ed vytv\u00e1\u0159et nekone\u010dn\u00e9 bohatstv\u00ed.<\/span><\/strong><\/a><\/li>\n<li><a href=\"https:\/\/thewinepress.substack.com\/p\/the-great-currency-reset-how-trump?utm_source=publication-search\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><span dir=\"auto\">Velk\u00fd reset m\u011bny: Jak Trump a Feder\u00e1ln\u00ed rezervn\u00ed syst\u00e9m pracuj\u00ed na zhroucen\u00ed dolaru jako z\u00e1minky pro \u00faplnou tokenizaci<\/span><\/strong><\/a><\/li>\n<\/ul>\n<p><span dir=\"auto\">B\u011bhem cel\u00e9ho t\u00fddne \u2013 od 19. do 23. ledna \u2013 prob\u011bhlo n\u011bkolik akc\u00ed na t\u00e9ma tokenizace a (ne tak) vzd\u00e1len\u00e9 budoucnosti financ\u00ed.<\/span><\/p>\n<p><span dir=\"auto\">Larry Fink, gener\u00e1ln\u00ed \u0159editel spole\u010dnosti BlackRock a spolup\u0159edseda WEF, je samoz\u0159ejm\u011b siln\u00fdm zast\u00e1ncem tokenizace, jak jsem ji\u017e n\u011bkolikr\u00e1t psal. Fink p\u0159irozen\u011b zd\u016fraznil nezbytnost tokenizace, p\u0159i\u010dem\u017e jako sv\u011btov\u00e9 l\u00eddry v p\u0159echodu na digit\u00e1ln\u00ed finance uvedl Indii a Braz\u00edlii a argumentoval, \u017ee je pot\u0159eba \u201esd\u00edlen\u00fd blockchain\u201c, kter\u00fd by \u201emohl sn\u00ed\u017eit korupci\u201c.<\/span><\/p>\n<p><em><span dir=\"auto\">&#8222;V\u011b\u0159\u00edm, \u017ee v\u00fdvoj sm\u011brem k tokenizaci a decimalizaci je nezbytn\u00fd.&#8220;<\/span><\/em><\/p>\n<p><em><span dir=\"auto\">Je ironick\u00e9, \u017ee dv\u011b rozv\u00edjej\u00edc\u00ed se ekonomiky jsou sv\u011btov\u00fdmi l\u00eddry v tokenizaci a digitalizaci sv\u00fdch m\u011bn: Braz\u00edlie a Indie. Mysl\u00edm, \u017ee k dosa\u017een\u00ed tohoto c\u00edle mus\u00edme jednat velmi rychle.<\/span><\/em><\/p>\n<p><em><span dir=\"auto\">Sn\u00ed\u017eili bychom poplatky. V\u011bt\u0161\u00ed demokratizace bychom dos\u00e1hli sn\u00ed\u017een\u00edm dal\u0161\u00edch poplatk\u016f, kdybychom m\u011bli v\u0161echny investice na tokenizovan\u00e9 platform\u011b, kter\u00e1 by se dala p\u0159ev\u00e9st z tokenizovan\u00e9ho fondu pen\u011b\u017en\u00edho trhu na akcie a dluhopisy a zp\u011bt.<\/span><\/em><\/p>\n<p><em><span dir=\"auto\">\u201eM\u00e1me sd\u00edlen\u00fd blockchain. Mohli bychom omezit korupci. Tak\u017ee bych tvrdil, \u017ee i kdy\u017e m\u016f\u017eeme m\u00edt na blockchainu v\u00edce z\u00e1vislost\u00ed, o kter\u00fdch bychom v\u0161ichni mohli mluvit, aktivity budou pravd\u011bpodobn\u011b zpracov\u00e1v\u00e1ny l\u00e9pe a bezpe\u010dn\u011bji ne\u017e kdykoli p\u0159edt\u00edm.\u201c<\/span><\/em><\/p>\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\"><iframe loading=\"lazy\" title=\"PANELOV\u00c1 DISKUSE: BlackRock, ECB a Citadel varuj\u00ed, \u017ee si trhy kv\u016fli americk\u00e9mu dluhu zahr\u00e1vaj\u00ed s ohn\u011bm | AC1G\" src=\"https:\/\/www.youtube.com\/embed\/-GqbDLviIFc?feature=oembed\" width=\"800\" height=\"450\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/figure>\n<p><span dir=\"auto\">Takov\u00e1 prohl\u00e1\u0161en\u00ed nejsou nic nov\u00e9ho; Fink to \u0159\u00edk\u00e1 u\u017e l\u00e9ta, ale v\u011bt\u0161ina lid\u00ed ho neposlouchala.<\/span><\/p>\n<p><span dir=\"auto\">Prob\u011bhla \u0159ada dal\u0161\u00edch prezentac\u00ed na t\u00e9ma tokenizace. Jedna sekce byla cel\u00e1 v\u011bnov\u00e1na t\u00e9matu tokenizace \u2013 \u201eJe tokenizace budoucnost\u00ed?\u201c<\/span><\/p>\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\"><iframe loading=\"lazy\" title=\"Je tokenizace budoucnost\u00ed? | V\u00fdro\u010dn\u00ed zased\u00e1n\u00ed Sv\u011btov\u00e9ho ekonomick\u00e9ho f\u00f3ra 2026\" src=\"https:\/\/www.youtube.com\/embed\/CBW7Sl9PmDI?feature=oembed\" width=\"800\" height=\"450\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/figure>\n<p><span dir=\"auto\">Guvern\u00e9r francouzsk\u00e9 centr\u00e1ln\u00ed banky Fran\u00e7ois Villeroy de Galhau poznamenal: \u201eR\u00e1d bych zd\u016fraznil, \u017ee tokenizace je pozitivn\u00ed v\u00fdvoj. Jsem pevn\u011b p\u0159esv\u011bd\u010den, \u017ee p\u0159inese pokrok v oblastech, jako jsou glob\u00e1ln\u00ed finance, dod\u00e1n\u00ed proti platb\u011b, sn\u00ed\u017een\u00ed n\u00e1klad\u016f na finan\u010dn\u00ed transakce atd.\u201c<\/span><\/p>\n<p><span dir=\"auto\">Bill Winters, gener\u00e1ln\u00ed \u0159editel britsk\u00e9 investi\u010dn\u00ed banky Standard Chartered, uvedl:<\/span><\/p>\n<p><em><span dir=\"auto\">\u201eNakonec bude v\u011bt\u0161ina v\u011bc\u00ed existovat v digit\u00e1ln\u00ed podob\u011b, v\u010detn\u011b re\u00e1ln\u00fdch aktiv, ale samoz\u0159ejm\u011b ne v\u0161echno. V\u011b\u0159\u00edm v\u0161ak, \u017ee se v sou\u010dasn\u00e9 dob\u011b nach\u00e1z\u00edme v bod\u011b v\u00fdznamn\u00e9ho zlomu. [\u2026] A nepochybuji a jsem o tom stejn\u011b p\u0159esv\u011bd\u010den jako p\u0159ed rokem, \u017ee nakonec bude v\u0161echno existovat v digit\u00e1ln\u00ed podob\u011b.\u201c<\/span><\/em><\/p>\n<p><span dir=\"auto\">Moder\u00e1tor zm\u00ednil, \u017ee Winters v listopadu prohl\u00e1sil, \u017ee mnoho, ne-li v\u011bt\u0161ina transakc\u00ed, bude do roku 2028 tokenizov\u00e1na. \u201eV\u011b\u0159\u00edme, a mysl\u00edm, \u017ee tento n\u00e1zor sd\u00edl\u00ed i veden\u00ed Hongkongu, \u017ee prakticky v\u0161echny transakce budou nakonec prob\u00edhat prost\u0159ednictv\u00edm blockchainu a \u017ee v\u0161echny pen\u00edze budou digit\u00e1ln\u00ed,\u201c \u0159ekl tehdy.<\/span><\/p>\n<p><span dir=\"auto\">Brian Armstrong, gener\u00e1ln\u00ed \u0159editel a spoluzakladatel Coinbase, nejv\u011bt\u0161\u00ed kryptom\u011bnov\u00e9 burzy v USA, poznamenal, \u017ee tokenizace pom\u016f\u017ee oslovit lidi bez bankovn\u00edch \u00fa\u010dt\u016f a \u017ee stablecoiny jsou jednou z prvn\u00edch mainstreamov\u00fdch iterac\u00ed.<\/span><\/p>\n<p><em><span dir=\"auto\">\u201eV\u00edte, mnoho lid\u00ed sly\u0161elo o lidech bez bankovn\u00edch \u00fa\u010dt\u016f, ale existuje tak\u00e9 \u010d\u00e1st sv\u011btov\u00e9 populace, kter\u00e1 nem\u00e1 p\u0159\u00edstup k finan\u010dn\u00edm slu\u017eb\u00e1m. P\u0159ibli\u017en\u011b 4 miliardy dosp\u011bl\u00fdch nemaj\u00ed p\u0159\u00edstup k vysoce kvalitn\u00edm investi\u010dn\u00edm produkt\u016fm, jako je americk\u00fd akciov\u00fd trh, nemovitosti nebo podobn\u00e9 investice, a nemohou do nich investovat.\u201c<\/span><\/em><\/p>\n<p><em><span dir=\"auto\">Tokenizace m\u016f\u017ee dos\u00e1hnout tohoto: M\u00e1te podkladovou jednotku tohoto aktiva a nyn\u00ed token, kter\u00fd ji reprezentuje v pom\u011bru jedna k jedn\u00e9. Prvn\u00ed verz\u00ed byly stablecoiny. Toto je dal\u0161\u00ed verze tokenizace. Stablecoiny proto zaznamenaly obrovsk\u00fd r\u016fst.<\/span><\/em><\/p>\n<p><em><span dir=\"auto\">\u201eToto nyn\u00ed vid\u00edme u americk\u00fdch akci\u00ed, nemovitost\u00ed a stane se to i u korpor\u00e1tn\u00edch dluhopis\u016f a komodit \u2013 do blockchainu se integruje spousta v\u011bc\u00ed. A to umo\u017en\u00ed lidem na cel\u00e9m sv\u011bt\u011b pod\u00edlet se na tomto motoru tvorby bohatstv\u00ed, ke kter\u00e9mu v\u011bt\u0161ina z nich nem\u00e1 p\u0159\u00edstup, pokud jsou z\u00e1visl\u00ed v\u00fdhradn\u011b na sv\u00e9 pr\u00e1ci, aby si vyd\u011blali. Tak\u017ee to bude pro kapitalismus obrovsk\u00fd p\u0159\u00ednos a vytvo\u0159\u00ed v\u011bt\u0161\u00ed popt\u00e1vku.\u201c<\/span><\/em><\/p>\n<p><span dir=\"auto\">Winters d\u00e1le vysv\u011btlil, \u017ee tokeny se v kone\u010dn\u00e9m d\u016fsledku pou\u017e\u00edvaj\u00ed jako prost\u0159edek sm\u011bny, p\u0159i\u010dem\u017e n\u011bkter\u00e9 generuj\u00ed \u00farok a jin\u00e9 nep\u0159in\u00e1\u0161ej\u00ed \u017e\u00e1dn\u00fd v\u00fdnos.<\/span><\/p>\n<p><em><span dir=\"auto\">\u201eMysl\u00edm, \u017ee n\u011bkter\u00e9 tokeny budou slou\u017eit ke dv\u011bma v\u011bcem. Budou slou\u017eit jako prost\u0159edek sm\u011bny. Jako prost\u0159edek sm\u011bny nemus\u00ed n\u00e9st \u00farok, proto\u017ee jsou okam\u017eit\u011b p\u0159evoditeln\u00e9, a slou\u017e\u00ed jako uchovatel hodnoty. Pokud negeneruj\u00ed v\u00fdnos, jsou mnohem m\u00e9n\u011b zaj\u00edmav\u00e9.\u201c<\/span><\/em><\/p>\n<p><em><span dir=\"auto\">Budou v\u0161ak existovat tak\u00e9 tokeny zvan\u00e9 stablecoiny. Budou existovat tokeny zvan\u00e9 tokenizovan\u00e9 bankovn\u00ed vklady, kter\u00e9 pravd\u011bpodobn\u011b generuj\u00ed v\u00fdnosy. A budou existovat tokeny zvan\u00e9 tokenizovan\u00e9 fondy pen\u011b\u017en\u00edho trhu, kter\u00e9 budou rozhodn\u011b generovat v\u00fdnosy. To je kl\u00ed\u010dov\u00fd bod.<\/span><\/em><\/p>\n<p><span dir=\"auto\">Winters d\u00e1le vysv\u011btlil, \u017ee s n\u00e1stupem stablecoin\u016f a token\u016f jako nov\u00e9ho prost\u0159edku sm\u011bny: \u201ePravd\u011bpodobn\u011b n\u011bkde existuje \u010dern\u00fd trh, kde se m\u00edstn\u00ed m\u011bna sm\u011b\u0148uje za americk\u00e9 dolary. N\u011bkdy je to leg\u00e1ln\u00ed, n\u011bkdy ne. To byl v\u017edycky probl\u00e9m.\u201c<\/span><\/p>\n<p><span dir=\"auto\">\u201eA jako banka jsme jak\u00fdmsi policejn\u00edm sborem,\u201c dodal. \u201eNa\u0161\u00edm \u00fakolem je tomu p\u0159edch\u00e1zet. Banky bohu\u017eel v\u011bt\u0161in\u011b finan\u010dn\u00edch zlo\u010din\u016f nebr\u00e1n\u00ed.\u201c<\/span><\/p>\n<p><span dir=\"auto\">V\u017edycky je \u201euklid\u0148uj\u00edc\u00ed\u201c, kdy\u017e se bank\u00e9\u0159 ozna\u010duje za \u201epolicistu\u201c a platebn\u00ed metodu, kter\u00e1 nen\u00ed zalo\u017eena na blockchainu, ozna\u010duje za \u201e\u010dern\u00fd trh\u201c. Nec\u00edt\u00edte se d\u00edky tomu bezpe\u010dn\u011b? Ned\u00e1v\u00e1 v\u00e1m budoucnost financ\u00ed h\u0159ejiv\u00fd a \u00fatuln\u00fd pocit?<\/span><\/p>\n<p><span dir=\"auto\">Moder\u00e1torka relace, Karen Tso, zpravodajsk\u00e1 moder\u00e1torka evropsk\u00e9 divize CNBC, nastolila ot\u00e1zky ohledn\u011b \u010d\u00e1ste\u010dn\u00e9ho vlastnictv\u00ed \u2013 konceptu popsan\u00e9ho Larrym Finkem, v n\u011bm\u017e lze aktivum rozd\u011blit na v\u00edce token\u016f p\u0159edstavuj\u00edc\u00edch \u010d\u00e1ste\u010dn\u00e9 vlastnictv\u00ed a smluvn\u00ed pr\u00e1va \u2013 a nazna\u010dila, \u017ee ned\u00e1vn\u00fd v\u00fdkonn\u00fd p\u0159\u00edkaz prezidenta Trumpa, kter\u00fd zakazuje velk\u00fdm institucion\u00e1ln\u00edm investor\u016fm nakupovat rodinn\u00e9 domy, by mohl b\u00fdt \u201epreventivn\u00edm \u00faderem v o\u010dek\u00e1v\u00e1n\u00ed n\u011bkter\u00fdch nadch\u00e1zej\u00edc\u00edch zm\u011bn v tokenizaci\u201c. Osobn\u011b jsem p\u0159i mnoha p\u0159\u00edle\u017eitostech napsala, \u017ee Trump\u016fv v\u00fdkonn\u00fd p\u0159\u00edkaz nevy\u0159e\u0161\u00ed americkou bytovou krizi a \u017ee tokenizace bude nakonec nezbytn\u00e1 k zaji\u0161t\u011bn\u00ed p\u0159\u00edstupu k bydlen\u00ed pro co nejv\u00edce Ameri\u010dan\u016f.<\/span><\/p>\n<p><span dir=\"auto\">V dal\u0161\u00ed sekci \u2013 \u201eZrychlen\u00e9 bankovnictv\u00ed\u201c \u2013 guvern\u00e9r Katarsk\u00e9 centr\u00e1ln\u00ed banky \u0161ejk Bandar Al-Thani vysv\u011btlil, \u017ee centr\u00e1ln\u00ed banky \u201ehraj\u00ed roli pr\u016fkopn\u00edk\u016f\u201c a \u017ee jedn\u00edm z t\u011bchto pr\u016fkopn\u00edk\u016f jsou syst\u00e9my okam\u017eit\u00fdch plateb (kter\u00e9 mohou podporovat CBDC a stablecoiny), kter\u00e9 umo\u017e\u0148uj\u00ed dokon\u010den\u00ed transakc\u00ed b\u011bhem n\u011bkolika sekund.<\/span><\/p>\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\"><iframe loading=\"lazy\" title=\"Zrychlen\u00e9 bankovnictv\u00ed | V\u00fdro\u010dn\u00ed zased\u00e1n\u00ed Sv\u011btov\u00e9ho ekonomick\u00e9ho f\u00f3ra 2026\" src=\"https:\/\/www.youtube.com\/embed\/EmluFRbWw3E?feature=oembed\" width=\"800\" height=\"450\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/figure>\n<p><span dir=\"auto\">Podle n\u011bj \u201eto tak\u00e9 p\u0159isp\u011bje k dosa\u017een\u00ed c\u00edle bezhotovostn\u00ed ekonomiky. A jedn\u00e1 se o jak\u00fdsi digit\u00e1ln\u00ed produkt. Centr\u00e1ln\u00ed banky tak pln\u00ed svou roli usnad\u0148uj\u00edc\u00edch \u010dinitel\u016f.\u201c Je jasn\u00e9, i kdy\u017e to u\u017e bylo z\u0159ejm\u00e9, \u017ee hotovost a pap\u00edrov\u00e9 pen\u00edze brzy zmiz\u00ed.<\/span><\/p>\n<p><span dir=\"auto\">Mezit\u00edm Steven van Rijswijk, gener\u00e1ln\u00ed \u0159editel ING Group, nizozemsk\u00e9 nadn\u00e1rodn\u00ed bankovn\u00ed a finan\u010dn\u00ed spole\u010dnosti, b\u011bhem dal\u0161\u00edho setk\u00e1n\u00ed \u2013 \u201eNov\u00e1 \u00e9ra financ\u00ed\u201c \u2013 uvedl, \u017ee \u201eje\u0161t\u011b m\u00e1me p\u0159ed sebou dlouhou cestu, abychom p\u0159im\u011bli lidi st\u00e1le v\u00edce p\u0159ech\u00e1zet na mobiln\u00ed za\u0159\u00edzen\u00ed a pou\u017e\u00edvat je \u010dast\u011bji\u201c, aby se umo\u017enila digit\u00e1ln\u00ed ekonomika.<\/span><\/p>\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\"><iframe loading=\"lazy\" title=\"Nov\u00e1 \u00e9ra financ\u00ed | V\u00fdro\u010dn\u00ed zased\u00e1n\u00ed Sv\u011btov\u00e9ho ekonomick\u00e9ho f\u00f3ra 2026\" src=\"https:\/\/www.youtube.com\/embed\/JgSRu6rzrkE?feature=oembed\" width=\"800\" height=\"450\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/figure>\n<p><span dir=\"auto\">B\u011bhem setk\u00e1n\u00ed zneuct\u011bn\u00fd zakladatel Binance Changpeng Zhao (CZ) \u2013 kter\u00e9ho prezident Trump za\u010d\u00e1tkem tohoto roku omilostnil pot\u00e9, co byl zat\u010den za pran\u00ed miliard dolar\u016f, ale pozd\u011bji se spojil s rodinou Trumpov\u00fdch a jejich tokenovou spole\u010dnost\u00ed World Liberty Financial t\u00edm, \u017ee jejich stablecoin USD1 um\u00edstil na s\u00ed\u0165 Binance \u2013 ozn\u00e1mil, \u017ee \u201ejedn\u00e1 s pravd\u011bpodobn\u011b tuctem vl\u00e1d o tokenizaci n\u011bkter\u00fdch jejich aktiv\u201c. I kdy\u017e neup\u0159esnil, s jak\u00fdmi, nazna\u010duje to, \u017ee \u0159ada vl\u00e1d je pln\u011b p\u0159ipravena na p\u0159echod na tokenizaci. Tak\u00e9 tvrdil, \u017ee mnoho bank se stane zastaral\u00fdmi a zanikne v d\u016fsledku soukrom\u00e9 financializace a tokenizace, proto\u017ee ji\u017e nebudou pot\u0159eba jako spr\u00e1vci, co\u017e jin\u00fdmi slovy prosp\u00edv\u00e1 \u201enebankovn\u00edm\u201c ob\u010dan\u016fm.<\/span><\/p>\n<p><span dir=\"auto\">V posledn\u00ed v\u00fdznamn\u00e9 sekci \u2013 \u201eKde jsme se nach\u00e1zeli v oblasti stablecoin\u016f?\u201c \u2013 moder\u00e1tor Gerard Baker, \u0161\u00e9fredaktor Wall Street Journal, poznamenal, \u017ee stablecoiny \u201ep\u0159edstavuj\u00ed pro st\u00e1vaj\u00edc\u00ed finan\u010dn\u00ed instituce v\u00fdznamnou v\u00fdzvu, proto\u017ee sni\u017euj\u00ed t\u0159en\u00ed (bezhotovostn\u00ed) v tuzemsku i online, zejm\u00e9na v mezin\u00e1rodn\u00edch transakc\u00edch, a maj\u00ed potenci\u00e1l, jak se n\u011bkte\u0159\u00ed domn\u00edvaj\u00ed, [\u2026] nahradit tradi\u010dn\u00ed finan\u010dn\u00ed instituce v mnoha z t\u011bchto platebn\u00edch syst\u00e9m\u016f.\u201c<\/span><\/p>\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\"><iframe loading=\"lazy\" title=\"Jak se nach\u00e1z\u00edme v oblasti stablecoin\u016f? | V\u00fdro\u010dn\u00ed zased\u00e1n\u00ed Sv\u011btov\u00e9ho ekonomick\u00e9ho f\u00f3ra 2026\" src=\"https:\/\/www.youtube.com\/embed\/KuTnBEDpDTY?feature=oembed\" width=\"800\" height=\"450\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/figure>\n<p><span dir=\"auto\">B\u011bhem diskuse s ot\u00e1zkami a odpov\u011b\u010fmi n\u011bkdo z publika polo\u017eil opravdu dobrou ot\u00e1zku ohledn\u011b pen\u011b\u017en\u00ed z\u00e1soby a rychlosti ob\u011bhu pen\u011bz, kter\u00e9 jsou z\u00e1kladem stablecoin\u016f, a zaj\u00edmalo by ho, zda by r\u016fst pen\u011b\u017en\u00ed z\u00e1soby v kombinaci se zv\u00fd\u0161enou rychlost\u00ed ob\u011bhu pen\u011bz (rychlost\u00ed obchodov\u00e1n\u00ed s m\u011bnami) nevedl k n\u00e1r\u016fstu inflace. Dobr\u00e1 ot\u00e1zka, zejm\u00e9na vzhledem k tomu, \u017ee tyto stablecoiny jsou kryty fiat m\u011bnami a vl\u00e1dn\u00edm dluhem, kter\u00e9 jsou ji\u017e tak vysoce infla\u010dn\u00ed.<\/span><\/p>\n<p><span dir=\"auto\">Jeremy Allaire, spoluzakladatel, p\u0159edseda p\u0159edstavenstva a gener\u00e1ln\u00ed \u0159editel spole\u010dnosti Circle, p\u0159edn\u00ed spole\u010dnosti zab\u00fdvaj\u00edc\u00ed se platbami zalo\u017een\u00fdmi na blockchainu, reagoval t\u00edm, \u017ee blockchain a koncept tokenizace nov\u011b definuj\u00ed to, co naz\u00fdv\u00e1 \u201enovou fyzikou pen\u011bz\u201c, a \u017ee \u201efyzika pen\u011bz se st\u00e1v\u00e1 fyzikou internetu\u201c. \u0158ekl:<\/span><\/p>\n<p><em><span dir=\"auto\">\u201eVe skute\u010dnosti si mysl\u00edm, \u017ee je to p\u0159esn\u011b naopak. \u0158\u00edk\u00e1m tomu nov\u00e1 fyzika pen\u011bz.\u201c<\/span><\/em><\/p>\n<p><em><span dir=\"auto\">A stejn\u011b jako jsou mezn\u00ed n\u00e1klady na ukl\u00e1d\u00e1n\u00ed a p\u0159enos dat prakticky nulov\u00e9, m\u016f\u017eeme nyn\u00ed p\u0159en\u00e1\u0161et neomezen\u00e9 mno\u017estv\u00ed dat rychlost\u00ed internetu prakticky bez n\u00e1klad\u016f. Podobn\u011b jsou mezn\u00ed n\u00e1klady na publikov\u00e1n\u00ed softwaru glob\u00e1ln\u011b nulov\u00e9. A nyn\u00ed, kdy\u017e um\u011bl\u00e1 inteligence vyr\u00e1b\u00ed software, jsou mezn\u00ed n\u00e1klady na skute\u010dnou produkci softwaru prakticky nulov\u00e9. Tak\u017ee m\u00e1me tyto kolapsuj\u00edc\u00ed mezn\u00ed n\u00e1klady. A v t\u011bchto s\u00edt\u00edch jsou mezn\u00ed n\u00e1klady na ukl\u00e1d\u00e1n\u00ed a p\u0159enos hodnoty jak\u00e9hokoli druhu, a\u0165 u\u017e se jedn\u00e1 o digit\u00e1ln\u00ed dolar nebo tokenizovan\u00fd dluhopis, prakticky nulov\u00e9.<\/span><\/em><\/p>\n<p><em><span dir=\"auto\">\u201eMohou existovat mezilehl\u00e9 \u00fakoly, kter\u00e9 s sebou nesou n\u00e1klady, ale v podstat\u011b se fyzika pen\u011bz st\u00e1v\u00e1 fyzikou internetu. A to znamen\u00e1, \u017ee k dosa\u017een\u00ed dramaticky vy\u0161\u0161\u00ed rychlosti ob\u011bhu pen\u011bz ve skute\u010dnosti pot\u0159ebujete men\u0161\u00ed m\u011bnovou z\u00e1kladnu.\u201c<\/span><\/em><\/p>\n<p><em><span dir=\"auto\">\u201e[\u2026] Ale domn\u00edv\u00e1m se, \u017ee m\u011bnov\u00e1 b\u00e1ze je men\u0161\u00ed. V\u011b\u0159\u00edm v\u0161ak, \u017ee to bude m\u00edt dlouhodob\u00e9 d\u016fsledky pro stanovov\u00e1n\u00ed \u00farokov\u00e9 politiky. \u00darokov\u00e9 sazby jsou navr\u017eeny tak, aby ovliv\u0148ovaly multiplik\u00e1tor pen\u011bz, kter\u00fd zase ur\u010duje rychlost ob\u011bhu pen\u011bz.\u201c<\/span><\/em><\/p>\n<p><em><span dir=\"auto\">\u201eTak\u017ee si vlastn\u011b mysl\u00edm, \u017ee to zm\u011bn\u00ed v\u00fdpo\u010dty, kter\u00e9 centr\u00e1ln\u00ed banky prov\u00e1d\u011bj\u00ed p\u0159i stanovov\u00e1n\u00ed mechanismu \u00farokov\u00fdch sazeb, a to vzhledem k povaze t\u00e9to nov\u00e9 fyziky pen\u011bz, jak ji ch\u00e1pu j\u00e1.\u201c<\/span><\/em><\/p>\n<p><span dir=\"auto\">D\u00e1le argumentoval, \u017ee \u201enakonec budeme m\u00edt men\u0161\u00ed m\u011bnovou z\u00e1kladnu, a proto neza\u017eijeme \u017e\u00e1dn\u00fd v\u00fdznamn\u00fd infla\u010dn\u00ed tlak.\u201c To bude samoz\u0159ejm\u011b velmi atraktivn\u00ed pro zoufal\u00e9 spot\u0159ebitele, kte\u0159\u00ed za\u017eili hyperinflaci kupn\u00ed s\u00edly sv\u00fdch dolar\u016f a dal\u0161\u00edch fiat m\u011bn, co\u017e zv\u00fdhod\u0148uje pou\u017e\u00edv\u00e1n\u00ed tokenu, kter\u00fd se maskuje jako pen\u00edze a neinfluje (tolik nebo v\u016fbec). To tak\u00e9 znamen\u00e1, \u017ee toto velk\u00e9 vyva\u017eov\u00e1n\u00ed m\u011bny pravd\u011bpodobn\u011b povede k tomu, \u017ee tyto tokeny a stablecoiny budou nav\u00e1z\u00e1ny na fyzick\u00e1 aktiva a ETF (tj. pravd\u011bpodobn\u011b kombinaci zlata, ropy, obilovin, vz\u00e1cn\u00fdch zemin, vl\u00e1dn\u00edho dluhu a fiat m\u011bn, spolu s n\u011bkter\u00fdmi trusty).<\/span><\/p>\n<p><span dir=\"auto\">Toto se potvrdilo na konci zased\u00e1n\u00ed, kdy\u017e se n\u011bkdo jin\u00fd zeptal, jakou roli bude hr\u00e1t tokenizace a stablecoiny v volatilit\u011b tzv. m\u011bny. Allaire odpov\u011bd\u011bl:<\/span><\/p>\n<p><em><span dir=\"auto\">\u201eV podstat\u011b se tokenizuj\u00ed i \u200b\u200bjin\u00e1 aktiva, a\u0165 u\u017e je to zlato, ropa nebo jin\u00e9 komodity. Ty v\u0161ak mus\u00ed b\u00fdt propojeny se stablecoiny, aby bylo mo\u017en\u00e9 skute\u010dn\u00e9 vypo\u0159\u00e1d\u00e1n\u00ed v hotovosti. A mus\u00ed b\u00fdt propojeny s tradi\u010dn\u00edmi tr\u017en\u00edmi strukturami, kter\u00e9 lid\u00e9 pou\u017e\u00edvaj\u00ed k zaji\u0161t\u011bn\u00ed, jako jsou op\u010dn\u00ed a deriv\u00e1tov\u00e9 trhy a tak d\u00e1le.\u201c<\/span><\/em><\/p>\n<p><em><span dir=\"auto\">Jsme sv\u011bdky explozivn\u00edho n\u00e1r\u016fstu trh\u016f na b\u00e1zi \u0159et\u011bzce, kter\u00e9 jsou v\u0161echny zalo\u017eeny na stablecoinech \u2013 trz\u00edch jako Hyperliquid, kde se v podstat\u011b vyv\u00edjej\u00ed tokenizovan\u00e9 n\u00e1stroje, kter\u00e9 nab\u00edzej\u00ed deriv\u00e1ty pro ka\u017edou jednotlivou komoditu a aktivum na sv\u011bt\u011b. A stablecoiny poskytuj\u00ed kolater\u00e1l, relativn\u00ed mar\u017ei a likviditu.<\/span><\/em><\/p>\n<p><em><span dir=\"auto\">\u201eProto se domn\u00edv\u00e1m, \u017ee tr\u017en\u00ed infrastruktura pro podporu tokenizovan\u00fdch komodit se velmi, velmi rychle rozv\u00edj\u00ed. A stablecoiny v tom hraj\u00ed kl\u00ed\u010dovou roli.\u201c<\/span><\/em><\/p>\n<p><span dir=\"auto\">A tady to m\u00e1te, o tomhle otev\u0159en\u011b diskutuj\u00ed kump\u00e1ni z WEF o \u201enov\u00e9 fyzice pen\u011bz\u201c. Pro\u010d si mysl\u00edte, \u017ee v\u0161echny tyto zem\u011b a centr\u00e1ln\u00ed banky po cel\u00e9m sv\u011bt\u011b vynakl\u00e1daj\u00ed takov\u00e9 \u00fasil\u00ed, aby si zajistily dominanci nad komoditami, repatriac\u00ed zlata a dal\u0161\u00edch drah\u00fdch kov\u016f, produkc\u00ed ropy a plynu a mnoha dal\u0161\u00edm? Co si mysl\u00edte, \u017ee bylo ve Venezuele v s\u00e1zce? \u0160lo o jejich z\u00e1soby ropy a nerostn\u00fdch surovin; a na Substacku byl vynikaj\u00edc\u00ed \u010dl\u00e1nek, kter\u00fd byl rychle smaz\u00e1n a ukazoval v\u0161echny letov\u00e9 z\u00e1znamy letadel p\u0159epravuj\u00edc\u00edch st\u0159\u00edbrn\u00e9 rezervy zem\u011b jen p\u00e1r hodin p\u0159ed Madurov\u00fdm zat\u010den\u00edm. Byla to intern\u00ed pr\u00e1ce \u2013 v\u0161echny v\u00e1lky jsou v\u00e1lkami bank\u00e9\u0159\u016f; a jak kdysi napsal \u0160alamoun jako obecnou z\u00e1sadu: \u201ePen\u00edze jsou odpov\u011bd\u00ed na v\u0161echno\u201c\u00a0<\/span><strong><span dir=\"auto\">(Kazatel 10:19)<\/span><\/strong><span dir=\"auto\">\u00a0.<\/span><\/p>\n<p><span dir=\"auto\">Ale i tito lid\u00e9 si uv\u011bdomuj\u00ed, \u017ee jejich syst\u00e9m bude stejn\u011b nedokonal\u00fd a bude n\u00e1chyln\u00fd k nejr\u016fzn\u011bj\u0161\u00edm probl\u00e9m\u016fm (co\u017e bylo v jejich rozhovorech tak\u00e9 projedn\u00e1v\u00e1no); a tokenizace, a\u010dkoli je jasn\u00fdm finan\u010dn\u00edm syst\u00e9mem nov\u00e9ho sv\u011btov\u00e9ho \u0159\u00e1du, bude sama o sob\u011b tak\u00e9 naprost\u00fdm chaosem a katastrofou.<\/span><\/p>\n<p><span dir=\"auto\">Proto si to p\u0159ipom\u00edn\u00e1me.<\/span><\/p>\n<h4><span dir=\"auto\">Zdroje:<\/span><\/h4>\n<ul>\n<li><a href=\"https:\/\/thewinepress.substack.com\/p\/tokenization-takes-center-stage-at#footnote-anchor-1-187050013\"><span dir=\"auto\">1<\/span><\/a><span dir=\"auto\">\u00a0https:\/\/www.weforum.org\/meetings\/world-economic-forum-annual-meeting-2026\/programme\/<\/span><\/li>\n<li><a href=\"https:\/\/thewinepress.substack.com\/p\/tokenization-takes-center-stage-at#footnote-anchor-2-187050013\"><span dir=\"auto\">2<\/span><\/a><span dir=\"auto\">\u00a0https:\/\/youtu.be\/-GqbDLviIFc<\/span><\/li>\n<li><a href=\"https:\/\/thewinepress.substack.com\/p\/tokenization-takes-center-stage-at#footnote-anchor-3-187050013\"><span dir=\"auto\">3<\/span><\/a><span dir=\"auto\">\u00a0https:\/\/www.weforum.org\/meetings\/world-economic-forum-annual-meeting-2026\/sessions\/is-tokenization-the-future\/<\/span><\/li>\n<li><a href=\"https:\/\/thewinepress.substack.com\/p\/tokenization-takes-center-stage-at#footnote-anchor-4-187050013\"><span dir=\"auto\">4<\/span><\/a><span dir=\"auto\">\u00a0https:\/\/bitcoinethereumnews.com\/blockchain\/almost-all-global-transactions-will-eventually-use-blockchain-standard-chartered-ceo\/<\/span><\/li>\n<li><a href=\"https:\/\/thewinepress.substack.com\/p\/tokenization-takes-center-stage-at#footnote-anchor-5-187050013\"><span dir=\"auto\">5<\/span><\/a><span dir=\"auto\">\u00a0https:\/\/thewinepress.substack.com\/p\/trumps-ban-on-large-institutional<\/span><\/li>\n<li><a href=\"https:\/\/thewinepress.substack.com\/p\/tokenization-takes-center-stage-at#footnote-anchor-6-187050013\"><span dir=\"auto\">6<\/span><\/a><span dir=\"auto\">\u00a0https:\/\/www.weforum.org\/meetings\/world-economic-forum-annual-meeting-2026\/sessions\/banking-accelerated\/<\/span><\/li>\n<li><a href=\"https:\/\/thewinepress.substack.com\/p\/tokenization-takes-center-stage-at#footnote-anchor-7-187050013\"><span dir=\"auto\">7<\/span><\/a><span dir=\"auto\">\u00a0https:\/\/www.weforum.org\/meetings\/world-economic-forum-annual-meeting-2026\/sessions\/new-era-for-finance\/<\/span><\/li>\n<li><a href=\"https:\/\/thewinepress.substack.com\/p\/tokenization-takes-center-stage-at#footnote-anchor-8-187050013\"><span dir=\"auto\">8<\/span><\/a><span dir=\"auto\">\u00a0https:\/\/www.weforum.org\/meetings\/world-economic-forum-annual-meeting-2026\/sessions\/where-are-we-on-stablecoins\/<\/span><\/li>\n<li><a href=\"https:\/\/thewinepress.substack.com\/p\/tokenization-takes-center-stage-at#footnote-anchor-9-187050013\"><span dir=\"auto\">9<\/span><\/a><span dir=\"auto\">\u00a0https:\/\/ehadnameh.substack.com\/65h-update-venezuela-goes-dark-silver<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div class=\"elementor-element elementor-element-8c57238 quelle dc-has-condition dc-condition-empty elementor-widget elementor-widget-heading\" data-id=\"8c57238\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h3 class=\"elementor-heading-title elementor-size-default\"><span style=\"font-size: 10pt;\"><a href=\"https:\/\/thewinepress.substack.com\/p\/tokenization-takes-center-stage-at\" target=\"_blank\" rel=\"nofollow noopener\"><span dir=\"auto\">Zdroj<\/span><\/a><\/span><\/h3>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u201eNakonec bude v\u011bt\u0161ina v\u011bc\u00ed existovat v digit\u00e1ln\u00ed podob\u011b, v\u010detn\u011b re\u00e1ln\u00fdch aktiv. A nepochybuji o tom,&#8230;<\/p>\n","protected":false},"author":2,"featured_media":99349,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[503,45,90,10578,2452,613],"_links":{"self":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/99348"}],"collection":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/comments?post=99348"}],"version-history":[{"count":0,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/99348\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media\/99349"}],"wp:attachment":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media?parent=99348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/categories?post=99348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/tags?post=99348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}