New “Tokenized” Protocol On The Bitcoin SV (BSV) Blockchain Intends For Asset Tokenization
New Protocol Enables Real Assets To Be Tokenized On The Bitcoin SV (BSV) Blockchain
It is fair to say that tokenization is an important trend that was brought to the world by the blockchain technology. Ever since the rise of technology in the last few years, several companies have devoted their work to tokenizing real-world assets.
Now, a new company called Tokenized Group has launched a protocol that will help clients who want to create tokens that will represent real-world assets using the Bitcoin SV blockchain. Many kinds of digital assets can be tokenized as well in the ecosystem, such as loyalty points, shares, and tickets, for instance.
The company, which is based in Australia, affirmed that the new protocol will help the people who do not have a lot of technical knowledge and is providing documentation in order to help the ones who wish to understand the platform well.
James Belding, known as the CEO of the company, has affirmed that there is still a lot of work to be done in order to educate regulators properly on how to deal with the rise of the blockchain technology. According to him, everything is ready to make this new protocol achieve wide global adoption and to replace some of the existing protocols in the industry.
According to the company, the technology makes it even possible for the authorities to freeze assets, for instance, which is certainly not making it too popular with diehard crypto fans. This measure, however, is considered something important by the company because it creates assets which will be compliant with the law.
A digital system could make it even easier for the authorities to be able to really have some control over assets when crimes happen.
In related news, recent reports from the European Union affirmed that the tokenization of digital assets could be used in order to enhance the trust of the financial system and that Ethereum was among the most suited platforms to be the basis for this new system.
Swisscom, a Swiss telecom company, has planned to distribute art using the blockchain, while the state of Wyoming has created a bill that will enable companies to issue their own stocks on the blockchain. Tokenization is here and ready to change the world.