News | The World First Legally Protected Asset Tokenization Case!
Recently, Ms. Zhang, the owner of a precious nephrite in Xinjiang, has converted a piece of nephrite that worth millions of CNY into ERC721 token on the Ethereum. It is known that Ms. Zhang decided to use the HashFuture’s Solution, which includes a “see-and-pay” legal agreement, meaning that any Ethereum account with the corresponding ERC721 token can redeem the specific nephrite. This ERC721 token will represent the nephrite and it can be freely traded and circulated on Ethereum. This case became the world’s first asset-tokenization case protected by legal rights.
In this case, Ms. Zhang, the asset owner, brought the nephrite to the Hash Node (Bougun & Cedar) for asset tokenization service. After all, for investors, such assets as the nephrite are of high value, but the liquidity and the circulation is quite low, and there are high risks in the transaction process. Therefore, after knowing about the advantages of asset tokenization(security, easy ownership affirmation and high liquidity), Ms. Zhang decided to try to tokenize her assets through professional institutions and explore new business models.
Asset Tokenization: Hashfuture’S Exclusive Technology + Legal Dual Protection Solution
In terms of the tokenization of physical assets, HashFuture solves the core problem, which is to map the token in the digital world and the rights of assets in the real world, and under the dual protection of the law and blockchain technology.
First, the Hash Node collects the “digital fingerprint” of the asset and registers it on the blockchain. As a Hash Node, Bowgun & Cedar determines and collects the feature identification information of the nephrite, calibrates the characteristics of the production veins, hardness, density, oiliness and texture, and collects the humane attribute information such as the nephrite age, collectors and sculptors. The Hash Node registers the feature identification information like a fingerprint on the blockchain (Ethereum), and the widget has a unique “digital fingerprint” on the blockchain.
Second, the Hash Node generates a valid and uniquely identifiable certificate (address: 0x565b7bd8056322f96dac28345245aead44f24ff) on the Ethereum blockchain according to the Hash Template Open Asset Protocol, that is, “Hash Token”. In addition to the “digital fingerprint” and node information, the most important thing is the legal agreement. This agreement stipulates that any Ethereum account owner who owns this certificate can redeem this nephrite at the Hash Node, which is protected by law. Hash Token will represent assets on the blockchain for efficient circulation and one-to-one mapping with physical assets. These are all publicly recorded on the blockchain and cannot be tampered.
Last, the Hash Node assigns the Hash Token to the owner Ms. Zhang. Ms. Zhang handed the nephrite to the Hash Node, and completed the whole process of asset tokenization. In the future, if Ms. Zhang transfers the token to others on the Ethereum, the new token holder only needs to present the token on the blockchain account to the Hash Node, and the nephrite can be redeemed at any time. Furthermore, the transfer of ownership of the nephrite of the chain is completed.
In conclusion, HashFuture aims to bridge the physical world and the digital world to allow the tradings and circulation of physical assets on blockchain. The solution of asset tokenization provided by HashFuture ensure the safe, efficient and legal trading procedure, and thus promote the circulation of the nephrite trading market.
The Market Trend: Asset Tokenization
There are problems in traditional asset trading market such as the blackbox, the assymetrical information, the fake products and the difficulties to verify the origin and transaction history of the assets. While the unique HashFuture Token includes all the necessary information, in the meanwhile, the transparency and the credibility are guaranteed by blockchain technology. The increase in transparency and efficiency will improve the liquidity and credibility of the assets, which eventually will promote the real value and the investment value of the assets. The HashFuture solution ensures that the HashFuture Token are under protection of multi-national laws.
Will asset tokenization be the next strategic investment peak? With the development of the blockchain industry, the asset tokenization may bring about an incredible new business model.
HashFuture Official: https://www.hashfuture.io/