2nd phase, tokenization

[Anonymous No.17468341]

How can it work, tokenization of the real world, not being a joke?

[Anonymous No.17468390]

It was billed as the most extravagant evening anybody who was anybody could
experience. A crowd that made the Alfred E. Smith Memorial Foundation Dinner
look provincial.

These weren't the public facing type of well-to-do. These were the behind the
scenes. Chainlink barons. Hard hitting Jews. Jesuit coadjutors. Bit bankers.
Even a few Long-chain clone daddies.

Since the Urbit Diet of 2172, all scrip were backed on a few prime assets and
their induplicability. The only remaining Black Lotus backed 1.2Tn worth of
securitized assets. Pieter Brugel the Elder's Triumpth of Death, Suicide of
Saul, and Albrecht Durer's Self Portrait at 28 backed 8 milion BTC wo8/rth of
derivative assets and insurance contracts, that's over 75% of the world's known
active supply (~10.6M at time of writing).

It's said in the past and again on the day the Edict was passed, that the real
was usurped by the simulacra. The only remaining things of value were abstract
works, no inherent value other than the whims of PMP, a few Long-chain clone
daddies, and rogue autonomous DAOs---the only entities with a shell of mystery
surrounding them thicker and darker than that of the daddies.

What they saw that evening could come to be known as The Final Consolidation.

The audience sat down and at precisely 6577777777, the seat-based handcuffs
locked them into their seats. An assault like this would usually entail an
automated emptying of anyone's staked assets into the wallet of the victim.
However, as the perpetrator walked on stage, the audience realized the gravity
of their situation. An unstaked human.

[Anonymous No.17468399]

tokenization of real assets is retarded. tokenization only works on purely digital assets, specifically bitcoin.

[Anonymous No.17468404]

>>17468390
For an unstaked human to breath air in the same 30km radius of a Long-chain
clone daddy was already a violation of the Beijing Treaty and hundreds of
billions of dollars of chain backed insurance contracts, whose smart contracts
were immediately triggered and emptied into the bank accounts of the Long-chain
daddies in question. The Consolidation resulted in the bankruptcy of no fewer
than 6 dozen syndicates and countless agents, agencies, and corporations.

"You're gathered here today to witness my final contribution to The System."

Seven dozen Key Items were rolled out onto the stage. The audience couldn't
believe their eyes. Alpha Black Lotus, Bant Diamond (suspected to be the only
remaining child stone of the re-butchered Hope Diamond), the only remaining
tablet original of the Lament of Ur, Rou Xing Stone, the engrossed and signed
Declaration of Independence, The Fritz Engraving, papiro biblioteca rylands
p52, and the Harper Fragment. These items represented the backing assets for
Trillions of on-chain assets and nearly all non-chain assets in the world.

A molten tub was brought out to the center of the platform. One by one, the
assets were submerged. Permanent erasure. As for the Bant Diamond. That was
merely transformed into graphite and pulverized, before being dropped into the
molten pool.

"Now all that remains is the public / private keypair for each of these
assets."

No more did the cryptographic representation of the items represent anything at
all beyond its inability to be replicated. Not unlike the original assets
themselves.

The audience outside was greeted by a swarm of news agents as they
fled the theatre.

[Anonymous No.17469084]

>>17468404
>>17468390
Jesus I am too high for this.

[Anonymous No.17469134]

>>17468399
It's already a fact, we're here to imagine how can this happen in a smart way, because it definitely will.

[Anonymous No.17469195]

1/7

[Anonymous No.17469208]

2/7

[Anonymous No.17469227]

3/7

[Anonymous No.17469248]

>>17469134
Stock certificates, bonds, real estate deeds, are all tokenized assets. They are just not digitized and put on a blockchain.

[Anonymous No.17469259]

is it schizo time? ok

[Anonymous No.17469266]

[Anonymous No.17469296]

5/7

[Anonymous No.17469336]

6/7

[Anonymous No.17469354]

7/7

[Anonymous No.17469358]

please short dystopian novels

[Anonymous No.17469502]

>>17468341
Couple of projects currently thinking about this. My best guess is that it's going to happen by way of NFTs, at least for assets like cars. The problem right now is that you can get good information about the real-world asset at the inception or 'minting' of the NFT, but once you then start trading the NFT on a secondary market/taking DAI loans against it or whatever, it can't be updated.

A lot of smart people are working on dynamic NFTs as a result. Some way to get updated info on the real world asset by changing the metadata associated with the NFT -- would let you know a variable interest rate on a mortgage, if a car had been in a crash, if an invoice had been partially paid, etc. (Ths core principal -- an NFT that can change/evolve -- also has applications in gaming and collectibles, but I think the DeFi/real world tokenization stuff is more exciting). A handful of teams are approaching this from different angles and I expect to see movement on this front by the end of the year.

The next step once you have better/updatable information on the NFTs tied to real world assets is legal enforcability. Let's say someone takes a loan against an NFT tied to a car. If they default the loan originator can take the NFT, but what then, they take that to court? So these updatable NFTs will need good legal framework and structure -- maybe a system by which default triggers a title transfer via some openlaw/accord system.

My guess is that all of this is two years away max. Too many smart people working on this already for it to take much longer.

[Anonymous No.17469806]

>>17469358
Bumping in vain hope for convo among this sea of wojacks

[Anonymous No.17469825]

>>17469502
what do you mean with nft?

[Anonymous No.17469863]

>>17469825
https://opensea.io/blog/guides/non-fungible-tokens/

[Anonymous No.17469995]

>>17469825
Check out Tinlake/Centrifuge in regards to this post: >>17469502

[Anonymous No.17470229]

>>17468399
owner of the asset mints tokens on chain (signed with their private key) representing partial ownership of the asset, a decentralized oracle network queries many market price aggregators or appraisers for the asset price, i that that would be it, basically the same way Maker works except CDP owners don't need to mint ETH with a signed transaction since it already exists on chain

[Anonymous No.17470279]

>>17469995
Thank you, this thread is actually getting very interesting

[Anonymous No.17470321]

>>17470279
Cheers m8. Let me know if you have questions and the like -- just came from the NFT conference in NY.

[Anonymous No.17470523]

>>17470321
Can you explain this for a brainlet? I've always viewed tokenized assets as a meme because you almost always have to sacrifice trust.

[Anonymous No.17470666]

>>17470523
we're just very early