Raoul Pal: The Journey Man ETH, Tokenization, and the Future of Wall Street
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Apr 16, 2026 
Danny Ryan, former Ethereum Foundation researcher who helped build the Merge, and Vivek Raman, ex-Wall Street credit trader turned CEO of Etherealize. They explore why Ethereum could underpin tokenization and onchain finance. Topics include Layer 2 scaling, zero-knowledge privacy, stablecoins and regulatory on-ramps. They also dive into AI agents, post-quantum planning, and how institutions might adopt programmable markets.
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Ethereum's Lindy Effects Appeal To Wall Street
- Ethereum's Lindy effects make it the safest credible choice for institutions upgrading finance onto blockchain.
- Raoul and Vivek stress proven uptime, developer depth, and regulatory acceptability as reasons banks won't get 'fired' for using Ethereum.
From Wall Street Trader To Ethereum Bridge Builder
- Vivek left 12 years on Wall Street, discovered Ethereum in Austin in 2020, and saw product-market fit to 'upgrade Wall Street' operations.
- He met an Ethereum Foundation engineer linked to Danny Ryan and built Etherealize to bridge banks to public Ethereum.
Use ZK To Scale Layer One And Complement Layer Twos
- Use ZK and advanced cryptography to scale L1 while keeping decentralization; reserve L2s for cheaper, customizable workloads.
- Danny recommends integrating applied ZK into both L1 and L2 stacks to increase throughput without sacrificing security.