ZenDao – Tokenizing Collectibles Tracking Blockchain Technology?
ZenDao is a platform developed on the Metaverse blockchain designed to create digital representations of real-world collectibles. Find out more in our ZenDao review.
What Is ZenDao?
ZenDao is a Chinese blockchain technology developed on the Metaverse blockchain. The goal of ZenDao is to use blockchain technology to create a digital representation of real-world collectibles – like paintings and sculptures – on the blockchain to create an unalterable digital proof and ownership transfer channel.
With ZenDao, there are no trade or commission fees. The proof of each collectible is fully transparent. Issuing and de-listing collectibles is simple. These two features mean that the mobility of the asset value is maximized.
Overall, ZenDao promises to create a tamper-proof, time-stamped, publicly traceable information ledger suitable for establishing an unalterable digital proof tracking system. The stored information is reliable and transparent, and there’s minimal risk of system failure.
In layman’s terms, ZenDao wants to introduce the benefits of blockchain technology to the world of collectibles. Some of the proposed collectibles include sculptures, paintings, and similar items.
ZenDao can transfer ownership of collectibles via the blockchain. Or, they can issue “Initial Collectible Token Offerings” (ICTOs) where they sell ownership stakes in a particular collectible.
ZenDao offers all of the following features:
ZenDao uses a tamper-proof, time-stamped, publicly traceable information ledger (built on the Metaverse blockchain) create an unalterable digital proof system.
Improved Market Liquidity:
ZenDao doesn’t have trading fees or commission fees. That means better liquidity for collectibles traders. It also means that the value of collectibles is maximized.
Collectibles owners can issue tokens representing their ownership rights on the ZenDao platform. They do this through the authentication of collectibles on the blockchain.
That means the full ownership – or even a small fraction of ownership – can be sold to the market while the asset itself stays with the custodian. This allows a broader number of investors to participate, reducing the transaction costs.
ZenDao improves the liquidity of the market and has built a proof tracking system, which should lead to the maximum possible asset value. That means users enjoy capital appreciation as the number of investors increases.
ZenDao, like other blockchain technologies, is decentralized. There are no centralized systems to attack. There’s no single point of failure, and there’s minimal risk of loss for users.
Peer To Peer Networking:
Unlike centralized trading systems, ZenDao has no peer-to-peer networking. Privacy is secured between parties. You don’t have to worry about a central company abusing or losing your information.
ZenDao allows each collectible to easily be converted into digital tokens on the blockchain. All entries are secured in real-time and are non-reversible on the blockchain.
ZenDao uses CDP authentication to identify real objects using a digital signature.
Smart Script Secured Trade (SSST):
ZenDao enables the reversibility of a trade based on a pre-programmed smart contract.
Initial Collectible Token Offerings (ICTOs):
ZenDao’s decentralized auction mechanisms allow token issuers to offer tokens representing the collectibles to different buyers. The price will be created by market demand.
ZenDao’s ICO is scheduled to begin on June 23, 2017. The ICO will be available for two weeks.
ZenDao’s ICO will raise funds for their platform. That ICO will see the release of ZenDao Coins (ZDC). ZDC tokens will be the fundamental unit of account on the ZenDao platform. All assets digitized on the ZenDao platform will be available to purchase with ZDC. ZDC will also be freely traded on exchanges.
You can participate in the ICO with BC, ETH, and ETP. More details about the ICO are available in the ZenDao whitepaper.
ZenDao can be found online at ZenDao.org. The website is available in Chinese or English. ZenDao is headquartered in Shanghai. You can contact the company by email at [email protected]
Aside from this basic information, we know very little about the company or its developers and executive team. The whitepaper makes no mention of the team or company founders.
Startup companies are introducing the benefits of blockchain technology all over the world. ZenDao wants to specifically introduce those benefits to the world of collectibles – including sculptures, paintings, and other fine works of art. The company’s blockchain, built on the Metaverse blockchain, allows for the seamless transfer of ownership of collectibles.
There are no transaction fees, and ownership can be split among people through unique concepts like Initial Collectible Token Offerings (ICTOs), where you release ownership of a collectible to a group of investors, based on a price set by the market.
ZenDao’s ICO is taking place at the end of June 2017. Stay tuned for more information about this unique Shanghai-based blockchain technology company as their platform continues to roll out!