Shredded palm leaves
This does not look like a palm. It looks like Dracaena marginata with the visible red edges on the leaves. The pattern of leaf scarring on the trunk also looks like Dracaena.
Old leaves will take on that dried, shredded appearance for any one of several reasons. If the plant is being watered with tap water, soluble salts are collecting in the container soil and roots can dry out. The plants should be repotted periodically because nutrients are depleted, peat moss has broken down too much and the possibility of tap water or well water soluble salts. Rain water works best. It could be from soluble salts from fertilizing.
The plant could be root-bound and has completely filled the available space. The pot is not visible in the photo. Water the plant well and slide it out of its container to check.