MEDIUM - Tokenization: From Lab to Market

Blockchain aims to transform the 21st century by the way we exchange information. The technology is immutable, auditable, transparent and allows to reduce the number of intermediaries. By having a secured and trustable distributed ledger it can bring value to transactions, therefore allowing to exchange real value stored digitally. This will have a profound impact on all industries and as of today, financial services are by far the most advanced in experimenting with this technology.

 

For the second edition of the Geneva Blockchain Congress held on the 20th January, “from Lab to Market”, a focus on financial industry has been made on digital assets with tokenization and related requirements and regulations. Financial actors such as the Swiss National Bank (BNS), the French National Bank (BNF), the Swiss Finance Institute (SFI), the Bank for International Settlements (BIS) and La Lietuvos Bankas, the national bank of Lithuania.

 

All assets will be tokenized one day and major financial players are preparing for this major transformation and restructuration. Issuance, storage and exchange of digital tokens will simplify, facilitate and accelerate the exchange of value. There will be improved transparency and auditability of business practices. Process optimization including compliance concerns will allow for better hire management by focusing on high added value tasks, rather than administrative ones. Further, these technologies hold the promise of a new native digital asset class with a high potential liquidity allowing the democratization of access to real estate, art, unlisted companies and many others. This development will accelerate over the next few years and may redefine the competitiveness of financial place and traditional financial players who will be able to seize these opportunities.

 

Reflecting the theme of the Geneva Blockchain Congress, financial projects on blockchain in 2020 are going from lab to market. For instance, Wecan presented on its stand Wecan Tokenize, a tokenization platform for the real estate and financial sector launched in October 2019. Wecan Tokenize is the result of a partnership between Wecan Group, blockchain venture-builder, Capelli, listed real estate group and Geneva Management Group, financial services provider. The aim of the platform is to digitize investments with the ambition of increasing the liquidity of assets by facilitating and securing transactions while injecting a new dynamic into real estate and financial investment. The whole process is 100% digitized from KYC to investment. Blockchain is part of our day-to-day, be prepared!

 

Sebastien Flak & Camille Ernoult