The math does not add up and the logic is not sound. That could be the summary of the current AI bubble . If that is true and AI does not deliver on its promise, what could the massive build-up of data centers be used for? Enter the tokenization of the economy: the process by which legal ownership rights to real-world assets (RWAs), commodities, and currencies are converted into blockchain-based digital tokens. In theory, this allows for more efficient, instantaneous, and secure global trade. In practice, it’s a transformation of the way the economy works by merging finance and digital technologies. Tokenization enables the financialization of almost anything that exists, turning passive physical realities into highly liquid, speculative instruments. You may tokenize a property title or a future crop, but also part of an artwork or a fraction of a worker’s shift. It enables the speculative economy, which is based on financial instruments and not on trade or production, to continue expanding.…