Our vision at futuready, includes becoming a focal point in the future asset management through security token offerings and tokenisation of assets. In this commentary, we will walk you ta part of through our chosen path to achieve this, through an open source blockchain called Ravencoin.
The Ravencoin community is united around a belief that the future is decentralized, and assets will be tokenised and managed on a blockchain. We, at futuready, share this belief.
If you already know the ERC20 tokens on Ethereum, where a user can create tokens that represent ownership of real-world assets, you have an idea of the concepts we are referring to here. On the Ravencoin blockchain, these tokens are known as Ravencoin Tokenized Securities which once issued can be traded freely. If Ravencoin Tokenized Securities are like ERC20 tokens, why Ravencoin then? Because it is better, and we will explain this down below. For now, please note Ravencoin (RVN) is the coin, the base currency, of this open source blockchain.
Why Ravencoin for asset transfer and ownership?
Ravencoin is a blockchain that was built with asset management and compliance in mind. The original development team forked, i.e. copied, it from Bitcoin. However, while Bitcoin was originally designed to function as currency - and to our opinion, it’s user base behaviour is better represented by ‘as a storage of value’ - Ravencoin has been deliberately designed to function as an asset management platform.
As an asset management platform, Ravencoin allows a user to create assets with all possible combination and characteristics such as for the tokens to be:
- either fungible or non-fungible tokens (NFT),
- scarce or unlimited,
- and without regard to any law or in absolute accordance with applicable laws in the chosen jurisdiction (e.g., CySEC, SEC, FCA).
Additionally, Ravencoin allows for metadata to be embedded to the tokens for:
- identifying what it is that the tokens represent,
- allowing users to attach messages to asset transfers,
- sending announcements to asset holders, to coordinate voting as an example.
In short, Ravencoin is the most complete project, dedicated to asset tokenisation.
Projects on Ravencoin
Ravencoin went live on November 5th, 2018. Since then, 25,000 assets have been created on the Ravencoin blockchain. These assets were all issued by burning RVN, the base currency of the Ravencoin blockchain.
Asset tokenisation is applicable in all classes of assets. The easiest example would be your own business, whose ownership share is an asset. If you want, you may sell a share of your ownership. This share can be tokenised using Ravencoin Tokenized Securities, and these tokens can then be sold to interested investors in return. These investors would be entitled to the dividends owed to them and Ravencoin off course allows for their distribution.
Two interesting projects that are tokenised using Ravencoin are:
- The largest STO in Asia
In November 2020 Tinaga Resorts Corp announced that it had issued a security token offering (STO) to raise 12.60 USD million for the development of a beach resort in the Philippines. At the time, this was the largest STO in Asia. The press release indicated the project’s security token TIRC, issued on the Ravencoin blockchain, would start trading in the 2nd quarter of 2021.
- The largest sapphire in the world
Originally weighing 39 pounds, this huge gem is the largest sapphire in the world, valued from 90,000,000 USD to half a billion. The gemstone is owned by Millennium Fine Art and thanks to an upcoming security token offering (STO), investors could own a fraction of the Millennium Sapphire.
These two very different projects and assets show that the entire asset tokenization ecosystem is in place and ready offer solutions.
Ravencoin in 2021 and beyond
As more and more projects and assets are tokenised on the Ravencoin blockchain, it is logically expected that its supporters will grow in numbers and their message will reach further. We ourselves, at futuready, are connecting the pieces for the future of asset management and the financial ecosystem for which Ravencoin was created.
While we are having many discussions on the tokenization of different asset classes ranging from real estate to entities to art, one thing is clear to us: asset tokenization will become the new standard. At the same time, no matter what the decentralised asset tokenisation future will exactly look like, we will remain committed in educating our clients and partners and providing update, reliable advice.
In conclusion, futuready and Ravencoin are partnering to form an ecosystem part of a greater ecosystem, utilising the most reliable and revolutionary technology of the last century. Please, do contact us if you require further information at [email protected].
We look forward to supporting you in finding an appropriate solution to your asset tokenisation vision.
The information provided in this article is for general information purposes only. You should always seek professional advice suitable to your needs.