As we speak, regulators are ramping up their efforts to work out exactly how crypto and tokens should be managed in their respective jurisdictions. Regulation to us is a good thing. What is on the other side will be a structure and framework that we can all abide to. This is where things get really exciting and where real innovation can flourish.
“What is really interesting to us at block3, are asset-backed tokens. Tokenising real-world tangible assets to exchange, for the purposes of greater provenance, liquidity, transparency, security and the accessibility of age-old asset classes to new audiences and geographies.”
Blockchain technology is not going away. Every day, we are seeing new use cases and business opportunities for it. And yes, whilst there is a lot of froth and hype relative to the current capabilities of blockchain technologies and associated infrastructure, what is being created and what will soon be made possible will be truly incredible and transformative.
ICO’s, in my opinion, are not going away. Instead, the ICO process will improve and the companies with sustainable business models will thrive. Evolutionarily speaking, the weak will fade away and the strong will remain and pave a trail for how things should be done. It is about educating and working with regulators, not against them. Also, not all businesses will need their own native token. Let’s be honest, many ‘utility tokens’ are weak at best and offer no real value to the networks they are designed to serve. In fact, it might be in a company’s best interest, development and cost-wise, to integrate with tokens already available.
What is really interesting to us at block3, are asset-backed tokens. Tokenising real-world tangible assets to exchange, for the purposes of greater provenance, liquidity, transparency, security and the accessibility of age-old asset classes to new audiences and geographies.
“It’s about enabling fractional ownership in digital form, and logging that right of ownership on to a digital ledger.”
Whilst the world is looking at ICO’s and wondering what to do with them, especially as investments, we can’t forget about the bigger picture. There is a real opportunity here for the wider business community and society as a whole to embrace blockchain, even if it is simply to record their assets on a distributed ledger.
For example, this would make the valuation of property, private company shares, gold, silver, art, watches, you name it, programmable. Meaning shares or parts of these assets can be tokenised and easily accessible to a new generation of investors. It’s about enabling fractional ownership in digital form, and logging that right of ownership on to a digital ledger. The implications for this would be staggering, and even as we speak, incredibly smart teams are working tirelessly to bring these principles to life at scale. If you would like to hear how block3 can support the tokenisation of your business assets, get in touch at firstname.lastname@example.org
Time will only tell what this means for Wall Street and the global trading markets, the real-estate industry and really any industry that has relied upon the services of middlemen to transact value. There is bound to be resistance along the way, but my hope is we use blockchain technology (where it makes sense) to improve our daily lives, so any transaction is more efficient and easier. Beyond ICOs, I think what we need to stay focused on is the real potential. The potential is greater transparency, control and the beginnings of a borderless, frictionless platform that enables the world to transact its “Assets” (real or even esteemed value), directly with anyone, safely and securely.