The Ukrainian IT company Roosh by Sergey Tokarev held a fully virtual corporate event in the metaverse. How it was
At the Tokenized Economies Live session at the World Economic Forum, experts working in fields ranging from a cryptocurrency company to the Ministry of Transport discussed topical issues related to tokens: their impact on financial markets, their security, and the need to classify them.
On January 17, within the framework of the World Economic Forum in Davos, Switzerland, a discussion was held about tokenization and blockchain technologies, which are gradually penetrating into all spheres of life. The discussion was attended by experts from the USA, Thailand and the Philippines, as well as the Minister of Transport of Norway.
Jeremy Aller, director and founder of the cryptocurrency company Circle, talked about the benefits and conveniences associated with the ability to instantly transfer any information completely securely. He mentioned that the availability of money, the value of which is assigned only by the results of some event and depends on it, gave a new impetus to the development of financial markets. It also changed the gaming industry and allowed real money to be made from gaming. “Topp” Jirayut Srupsrisopah, CEO of Bitkub Capital Group Holdings Co., Ltd., also spoke about digital finance. In particular, he said that the National Bank of Thailand turned to the tokens. In 2023, the institution will try to separate real cash reserves and financial investment tokens.
However, the possibilities of blockchain technologies are not limited to cryptocurrencies and Central Bank savings. The technology is also used in digital financial assets (DFA), a financial instrument that is gaining popularity. With its help, for example, a business can improve its own supply chains and implement other financial transactions. Now there are three CFA operators in Russia - Atomize, Lighthouse and Sber. On the Atomize platform, for example, in August 2022, Nornickel issued a CFA, the volume of which corresponded to the amount of the company's accounts payable to the supplier of production equipment. The company plans to use the same Atomize platform to tokenize housing in Norilsk. In addition, Interros will also transfer up to 10% of its shares in Rosbank to a motivational program for Rosbank employees.
The panellists also discussed the TCP/IP tokenization model and drew attention to its availability. The experts noted that the TCP / IP model is currently not regulated, and the use of tokens is not controlled. “Governments have a lot of work to do to classify tokens. They will have to define what is a digital currency, what is a digital value, and what is a digital good or service. This typology needs to be developed before we start issuing licenses,” explained Jeremy Aller
The session also touched on NFT, a special ownership format that also works like a token and is usually associated with the purchase of images or virtual items. The participants of the discussion came to the conclusion that the NFT format allows all transactions with digital objects and ensures all the rights that the owner of real property has.