Protocol Enables Real-World Assets to Be Tokenized on Bitcoin SV Blockchain

A company has launched a protocol enabling businesses to create tokens for real-world assets on the Bitcoin SV blockchain, according to a news release published on May 27.Tokenized says asset types including shares, loyalty points, admission tickets and memberships are supported through its ecosystem - with the Australian firm placing an emphasis on offering a product that is regulation friendly.

Documentation has been released to help those with little technical knowledge about tokenization to understand the platform's features, and the company is urging businesses, governments and investors to get in touch to find out more.

"There is still a lot of work to be done in educating regulators we are confident that all of the pieces are now in place to allow the protocol to be adopted globally as a replacement for all of the current financial messaging protocols."

The company says its platform makes it possible for legal authorities to issue digitally signed court orders that can lead to smart contracts being frozen, also opening up the potential for tokens to be confiscated.

The company believes its technology would allow banks to tokenize national currencies.

Last month, a report by an EU forum concluded that the tokenization of physical objects could enhance trust, with author Tim Weingärtner suggesting that the Ethereum blockchain is the best platform for token creation.

A few days ago, Switzerland-based company Swisscom unveiled plans to distribute tokenized artwork.

Back in January, the United States state of Wyoming passed a bill enabling corporations to issue blockchain-based tokens that represent stocks.