TL; DR
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One use case we’ve noticed recently is tokenized real world assets, because they make buying and selling things (like houses) cheaper, faster, and easier.
Full story
Critics of blockchain technology call it “a solution in search of a problem.”
And we get it: blockchain technology is difficult for the average consumer to understand because it is essentially a backend technology.
But there’s one use case that has caught our attention recently, because it really seems like something that didn’t exist in any meaningful way before, and now it does.
We are talking about tokenized real-world assets (RWAs).
Before your eyes glaze over and we lose you, hear us out (pls)!
Tokenized RWAs are actually a very simple concept. For example, take a real-world asset such as a house; and instead of selling the whole thing at once, you have the option to sell just part of it (if you want).
All sales are tracked on the blockchain, which is a good reason to use the technology.
But what is – for a consumer – much more important than tracking everything via blockchain technology?
Making the process faster, easier and cheaper.
That is what tokenized RWAs can do for you.
Imagine buying and selling a series of apartments, single-family homes, and commercial properties (all individually) several times a day (the same way you would if you were trading stocks every day).
That does not happen in the current system.
To buy/sell just one property you have to deal with public/private auctions, brokers, agents, lawyers etc for several days/months.
So yes, blockchain technology is not the solution to every problem, but for this one it is a damn good solution.