This is what emerges from the new Reply research “Digital Assets Trends”, based on the proprietary Reply SONAR platform. Through the analysis of sector studies, scientific articles, patents, documents and B2B content published in the last year, integrated with concrete experiences of Reply customers, the study examines the main trends related to Digital Assets.
Tokenization is the first step in bringing real-world assets and financial instruments to the blockchain, representing an opportunity above all for those traditionally illiquid in nature (e.g. high-value works of art, public infrastructure, private equity). The main benefits enabled by tokens are the construction of a peer-to-peer network without intermediaries that also acts as a decentralized network, end-to-end traceability with the ability to prove ownership at any time, and automated record keeping that simplifies every aspect of compliance.
“Digital assets still make up less than 1% of the global financial system, but they have already grown exponentially and will confirm this trend in the years to come.” commented Filippo Rizzante, CTO of Reply, “Today Reply is already supporting the requests of various financial institutions, as well as some important players in the healthcare, energy, fashion or public administration sectors, in the adoption of digital assets enabled by a growing maturity of the regulatory framework and the intense work of central banks on their digital currencies”
The study essentially identifies 4 macro-types of emerging Digital Assets:
They fall into the category of Payment Tokens le cryptocurrency and stablecoins: currencies not “yet” issued by governments or other financial institutions, but monitored and organized on a decentralized network that also serves as a secure ledger for every transaction, pending the first regulations that will come into force in 2024. The rapid The increase in the circulation of this type of asset has prompted central banks to explore their own digital currencies, the so-called Central Bank Digital Currencies and the ECB has also launched the development of digital Euro pilot projects.
Non-Fungible Tokens are a digital representation of real or natively digital assets to be collected or used in virtual worlds. NFTs find applications in various sectors, including asset management and the art market. Currently they are not subject to any regulation and find the greatest expression of their potential within the Metaverse.
Utility Tokens allow the user to perform an action on a specification blockchain or decentralized application. They have been particularly popular for the so-called Initial Coin Offerings (ICO), but today they are mainly used to be able to redeem digital services and products in pre-definiti, as could be those of the cloud or online gaming.
Security Tokens are a digital representation of a traditional financial instrument (stocks, bonds, derivatives). Being digital assets, they offer additional benefits including greater flexibility in the creation and distribution process for SMEs and startups. In addition to the already existing security tokens launched by the European Investment Bank, the Reply Sonar platform has identified a growing interest in the tokenization of carbon credits that relate to a typically opaque and inefficient market: the technology blockchain could revolutionize the monetary side of a carbon offset's lifecycle by tokenizing its credits.
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