Madison Metals Explores Launch of Uranium-Backed NFTs and Fungible Tokens
June 30 (Cointime) - Madison Metals, a mining company based in Toronto, Canada, is reportedly considering launching uranium-backed NFTs and fungible tokens. The company had previously attempted to launch this project in April but had to postpone it. Madison's CEO, Duane Parnham, stated that a revised offering is coming soon and that the company's development team will be able to list a token backed by the company's uranium. This would allow retail investors to participate in commodities trading. Tokenization of various assets has been gaining popularity, including tokenized real estate and bank deposits.
IMF and BIS Reports Highlight Potential for Tokenization and CBDCs in Future Monetary System
June 26 (Cointime) - Both the IMF and BIS have released reports on the future of the monetary system, which highlight the potential for tokenization and mention crypto and central bank digital currencies (CBDCs).
Tokenization in Stablecoins and Central Bank Digital Currencies (CBDCs), Private Market Funds, Securities and Real Estate Could Be As High as $5 Trillion Over the Next Five Years
June 26 (Cointime) -Bernstein’s research report states that tokenization will improve operational efficiency, liquidity, and accessibility. The tokenization opportunity in areas such as stablecoins and central bank digital currencies (CBDCs), private market funds, securities and real estate could be as high as $5 trillion over the next five years. Among them, currency tokenization through stablecoins and CBDC will be applied on the chain and in payments, and 2% of the global currency supply will be tokenized. However, regulatory uncertainty remains one of the challenges. The role of policy makers requires an understanding of blockchain and cryptographic tokens for operator consoles in order to successfully tokenize blockchain chains.
Bank of International Settlements Releases Blueprint for Global Unified Ledger to Support CBDCs and Tokenized Assets, Takes Dim View of Crypto
June 21 (Cointime) - The Bank of International Settlements (BIS) has proposed the creation of a global "unified ledger" to support Central Bank Digital Currencies (CBDCs) and tokenized assets. The BIS believes that tokenization is the future of monetary systems, with programmable platforms overseen by central banks.
BIS Unveils Unified Ledger for Tokenization, Dismisses Crypto and DeFi As Flawed
June 21 (Cointime) - The Bank for International Settlements (BIS) has pre-released a chapter of its upcoming Annual Economic Report 2023, which outlines its Unified Ledger concept for supporting central bank digital currencies (CBDCs), tokenized deposits and digital assets in the same network.
Itoka Proposes Blockchain-Based Solution for Copyright Issues in AI-Generated Music
The use of AI-generated music is on the rise, with tools like Meta's MusicGen allowing users to create songs in various styles without any musical knowledge. However, the use of existing songs to train these tools is causing copyright issues in the music industry. Start-up Itoka plans to tokenize AI-generated music on the blockchain to protect creators' rights and prevent plagiarism and unlawful monetization.
Chromia Launching Ledger Digital Asset Protocol for New Paradigm for Fundrasing
According to Chromia Twitter， Ledger Digital Asset Protocol (LDAP), introducing another advancement in the tokenization of real-world assets. This novel protocol, developed by Chromia, contributes to a new paradigm for fundraising, investor onboarding, governance structuring, payments, trading, and custody services throughout the capital-raising supply chain.
Former SEC Chairman Calls for Nuance in Crypto Enforcement
Former U.S. Securities and Exchange Commission (SEC) Chairman, Jay Clayton, has voiced his opinion on the agency's current approach to enforcement in the crypto space. Speaking at a Bloomberg Invest panel, Clayton stated that while he supports the SEC and the law, the issue of crypto regulation should be treated with nuance.
Real-World Asset Protocols Gain Momentum in DeFi Circles with Institutional Support
Real-world asset (RWA) protocols are gaining popularity in the DeFi community as they allow for the tokenization and trading of real-world assets such as stocks, government bonds, real estate, and commodities. DeFi offers advantages over traditional finance by making smart contracts transparent and enabling financialization of these assets through decentralization. The top uncollateralized lending protocols for institutions in TrueFi and Maple saw significant increases in 2023, as did the real-world asset tokenization platform Centrifuge. The tokenization of real-world assets is increasing, with RWA assets now accounting for 25% of the collateral for the decentralized stablecoin DAI. However, non-collateralized lending protocols carry the risk of debt default, and readers should conduct their own research before making investment decisions.
IOTA Foundation Holds Roundtable Discussions on Decentralized Technology and Cryptocurrency Regulations with Industry Leaders and European Institutions
The IOTA Foundation recently held roundtable discussions with industry leaders and European institutions to gain insights into decentralized technology and cryptocurrency regulations. The discussions covered a range of topics, including self-hosted wallets, NFT regulation beyond art, and tokenization's impact on the real economy.
