RWA Real-World Asset Tokenization On Ravencoin
Ravencoin is a blockchain platform that was architected in 2017, and launched in 2018, that was custom-built for tokenization of Real-World Assets (RWA).
This platform has been running 24x7x365 since Jan 3, 2018. It already tokenized gold, wine, water, real estate, gift cards, NFTs, game items, artwork, and more.
It is six years later when the rest of the world caught up to our thinking in 2017. #RWA is becoming a common idea now.
So, what makes Ravencoin a better asset tokenization platform than any other that currently exists?
Your token gets a guaranteed unique name
This important for several reasons.
- It helps with branding because your token name can’t be used by others.
- It helps reduce fraud. Sometimes, you have unscrupulous actors that will try to trick your users with a fake token. This can be done on other platforms where the only truly unique identifier is a contract id, not the token name.
- Your token is indexed by the Ravencoin asset-aware explorers and is easily searchable by the name you selected.
Documentation about your token is immutable
Your token represents something. It could be fractional ownership of real estate, a future delivery of a product, a right to a commodity like water or gold. What your token represents is stored in IPFS, and the IPFS content identifier goes on-chain when you issue your tokens. This links the meta-data (digital documentation about your token) to your token issuance so it cannot be modified. This gives assurance to the token holder about what they own.
Imagine a less impressive system that links to a website, or to a shortened URL. Note: Many systems do this. The data about the token is likely to disappear, or change. The promise is mutable. Maybe you remember buying a 1% interest in a property, but now the token links to a website selling weed killer. What happened? Your tokens are now just digital receipts representing nothing. On Ethereum, there have been examples where an NFT appears differently depending on which system you view it on — That’s not good.
Easy, easy, easy
Ravencoin requires no programming. Use an asset-aware wallet and make your own RWA tokens today.
To create your Real-world Asset Tokens:
- Choose a unique name.
- Choose the qty you want from 1 to 21,000,000,000.
- Choose how divisible — from not divisible whole tokense, to eight places after the decimal, or anywhere in-between.
- Reissuable? Can you issue more — yes or no.
- Upload meta-data to RavencoinIPFS.com, get a content id back, and include the hash.
- Make sure you have 501 RVN in the wallet. 500 RVN are burned forever as a cost, and a tiny amount of the other RVN is used for network fees.
- Hit [Submit]
It is really that easy. Now you own all the tokens, and do what you wish with them.
FAQ
Q: What if regulations deem my tokens are securities and require that the tokens not move without me or my company knowing the identity of the owner?
A: Ravencoin has a solution. You can issue Restricted Assets which allow you to tag Ravencoin addresses which can hold your Restricted Asset. This allows you to do KYC, or update a secondary ledger in a back office, etc. while allowing a subset of the planet’s humans to trade your token. It also allows you freeze your token from trading, freeze tokens in a single account. It also allows you document the reason for the freeze (lost keys, Rule 144 non-tradeable, etc.)
Note: All Restricted Assets have a name that starts with ‘$’ so that you, as a token holder, know that the issuer has some super powers over your token.
Q: What if I want my token’s meta-data to change?
A: It is possible. Leave your newly issued asset as re-issuable. It will cost 100 RVN to change the meta-data, but as long as your token is re-issuable, you can change it. The 100 RVN will be burned. The original meta-data will remain on-chain in the history.