Raoul Pal, a former executive at Goldman Sachs, believes that the finance industry could eventually see up to $1 quadrillion worth of derivatives and equities move onto blockchain and crypto platforms. Pal notes that BlackRock's recent push for a Bitcoin exchange-traded fund (ETF) sends a message to the industry that crypto is a meaningful technology.

He suggests that if the finance industry invests in and builds out the infrastructure of blockchain and crypto, it could lead to the largest applications layer possible. BlackRock has a near 100% success rate in getting their ETF applications approved and applied for a Bitcoin ETF in July.