Tezos founder recently posed a compelling question about blockchain's role in reshaping capital markets: could on-chain infrastructure become the primary venue for equity formation and trading? The vision centers on enabling companies to list directly on blockchain networks, potentially dismantling geographical and structural barriers that currently concentrate capital flows in traditional hubs. This approach could democratize access to global equity markets, allowing businesses worldwide to tap into investor capital without navigating legacy financial gatekeepers. The concept challenges conventional market architecture by proposing distributed ledger technology as a foundational layer for securities issuance and exchange. If realized, such a shift might redirect substantial capital flows away from centralized systems, creating new pathways for cross-border investment and company funding.