Daily Crypto, Finance, and Tech News Summary – September 18, 2023

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Welcome, and thank you for being part of the MyZucoins community! Let’s get into an interesting piece of crypto, finance, or tech news to stay ahead.

Tokenizating Insurance, Agriculture, and Real Estate industries

Tokenization: A New Dawn For Insurance, Agriculture, And Real Estate

The Boston Consulting Group predicts a whopping $16 trillion industry sprouting from the tokenization of real-world assets.

This revolution isn’t just about big numbers—it’s a lifeline for people in developing countries, offering fresh ways to tackle everyday issues.

At the Swiss Web3 Fest, industry experts shed light on the transformative power of tokenization. According to Mussenbrock, traditional insurance companies are increasingly craving on-chain solutions.

“A huge change is happening as we speak,” he says, emphasizing that even conventional insurance companies are dipping their toes into this new world.

BrickMark’s Stephan Rind points out that asset tokenization opens doors to financial products currently out of reach for many, potentially narrowing the wealth gap.

From real estate to livestock—almost anything from the traditional finance world can be tokenized, allowing for broader participation and democratization of capital.

Rind also believes that the adoption hurdle will be leaped over by central bank digital currencies (CBDCs), putting a digital wallet in the hands of billions.

He adds that regulatory changes will pump more capital into asset tokenization.

Echoing this sentiment, Jose Fernandez from Tokengate predicts that in a decade, most people will deal with tokens daily, whether they realize it or not. Read more here.

More On This Topic:

Tokenization 101: The future of ownership?

Imagine a treasure chest full of gold, cocoa, and oil.

Tokenization’s appeal could also lie in its ability to democratize access to costly markets.

Tokenization means bringing real-world and digital assets into verifiable systems such as blockchain and Splitchain.

Zucoins And Splitchain In A Tokenized World

Traditional sectors seeking on-chain solutions present a significant opportunity for the likes of Zucoins and the Splitchain network.

The unique truth-based network of Splitchain, with its fast transaction settlement speeds and absence of competitive mining, could be an attractive proposition to these sectors.

This could be a way for traditional companies to modernize, become more efficient, and reduce their environmental footprint.

The topic of asset tokenization has brought to light the potential for democratizing access to such assets.

This is where the capabilities of Zucoins, such as supporting micro-transactions without high fees, could come into play.

The ability to handle transactions up to 32 decimal places means that Zucoins could potentially play a significant role in democratizing access to financial products.

Imagine a world where you walk into your favorite coffee shop, and instead of swiping a card or paying with paper currency, you seamlessly make a micro-transaction with Zucoins.

The efficiency of the Splitchain network ensures your transaction is not only real-time but also environmentally friendly and cost-efficient.

Factors such as these could contribute to greater wealth distribution and financial inclusion, by making entry into such areas far easier.

The rise of central bank digital currencies (CBDCs) is expected to be a huge boost for the adoption of digital assets.

It’s crucial for emerging players like Zucoins and the Splitchain network to ensure their platforms are ready to interact seamlessly with these CBDCs, or be positioned as an increasingly decentralized alternative.

Given the prediction that many people will be interacting with tokens daily within a decade, the proactive stance for Zucoins and Splitchain would be to prepare for this future.

While Zucoins and the Splitchain network already have several advantages over traditional cryptocurrencies, the key to staying ahead would be continuous innovation and user-centric enhancements.

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All the best,
Peter & Rob

Disclaimer: Of course, this is not advice, financial or otherwise. It’s also important to consider the risks and challenges associated with any potential benefits.