Altcoins News
By Ayobami Abiola
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Blockchain Technology and Asset Digitization
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The loopholes
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Some potential solutions
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Transparency
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Law Binding
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Maybe the next big thing…
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Asset-Backed tokens offer a great way for people to own an asset and not have it physically. This forms the foundation to own the world in your pocket.
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While trading stocks are great and the most popular way to own a certain portion of companies like Amazon, Tesla, Google, Facebook, etc.
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The application of blockchain technology to tokenize real estate assets is becoming recognized among professionals because of some inherent attributes of blockchain technology.
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So far, these major challenges face asset tokenization and prevent wider adoption of the same. This is because the use case is quite new and there are no laws binding in this case.
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Below are some potential solutions that can help an issuer or company foster trust in the heart of investors:
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If the issuer in question can leave full details of the asset in question online and open for anyone who wishes to do due diligence, then there might be a spark of trust in…
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Platforms to create tokens and issue smart contracts like Xinfin's mycontract.co perform KYC on anyone who wants to tokenize any asset- this can serve as an extra layer of…
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The matter may be simpler for an already established online Real Estate investment platforms that have ready-made customers that they serve.
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There must be legally binding documents that give people who buy tokens certain rights over a particular asset.
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