Current global capital markets are closed islands with limited interconnecting bridges. This is because the function of capital markets is largely dependent on the rule of law and, depending on which country you are in, it often varies.
This essentially means that certain countries will have cheap access to credit, and others will not. Two similar individuals with similar characteristics will have differing access to credit based on where they happen to be born or be present in.
The advent of blockchain technology has led to the development of payment rails that make it possible for a person in one part of the world to transact with someone else on the other side in a permissionless and trustless manner. A single global market with equal access is already in place.
However this is currently limited to onchain assets only, because enforcing off chain requires manual intervention and is a process full of friction that varies based on the asset in question.
The second problem is that of the speed of capital formation. When dealing with large ticket assets, such as real estate, that are executed in a time bound manner, you need certainty that funds will be available and not dependent on the success of a book build.
What is needed is a mechanism by which non-stable and/or illiquid assets can be converted into liquid/stable assets (or cash) on demand.