Universal asset tokenizer
Bushwick, New York
The team at Cryptonomic would like to announce the launch of a new platform to integrate traditional physical-money finance with the clear future-finance based on blockchains with optional decentralization and disintermediation.
As we build solutions for purely blockchain-based financial systems, the need to bridge the gap comes up time and again. Large corporate customers are interested in asset tokenization to achieve further intangibility in their financial products and realize the consequent efficiencies. On the retail end there is always friction in initial platform entry and establishing an immutable, verifiable relationship between crypto-assets and their equivalents in the legacy physical realm.
We are happy to share that a solution to these problems is close at hand with the launch of our IoT division. Our first product is a blockchain-connected furnace which will enable the tokenization of various physical assets to allow them to be traded and escrowed in the digital world. More than an oven, the Bitcinerator takes crucial measurements and provides telemetry for identifying and describing blockchain-based assets.
After depositing the asset inside the device, a user merely turns to the gloriously high resolution 27” touchscreen to review the collected information including weight, volume, temperature, and a 3-D reconstruction model. Artificial Intelligence (AI) practices were strictly avoided due to ethical and existential concerns. The device will also scan for a pulse, the detection of which prevents operation as we do not want to contribute to the global scourge of human trafficking. After successful digitalization, the remaining physical aspects of the asset are stored in small containers labeled with their unique cryptographic signature, which has just become part of the blockchain permanent record. These remnants are also analyzed with a spectrometer prior to sealing for authenticity confirmation.
Through and through, Cryptonomic is a technology company. In the great tradition of engineers before us, we included an easter-egg feature: popcorn mode. When the device is not used to tokenize real-world objects, it can make delicious, healthy corn snacks. Multiple user studies were conducted to ensure that this function would not be confused with the agricultural commodity tokenization mode for corn.
While detokenization is an area of active research, some breakthroughs were achieved. We anticipate the announcement of the sister product line that enables conversion of fungible US currency tokens into their physical-world equivalents as soon as we receive a currency printing license from the US Federal Reserve.
