Thread by @smeddysays

1/13

Did you catch our Spaces on Real World Assets in the age of tokenization?

We were joined by...

@jackchong_jc
, FriggEco
@matthew_sigel
, VanEck
@erwan_backed
, Backed Finance
@0xJMG
, Reserve Protocol

Highlights 🧵, or hit the replay!

$RSR #RWA

twitter.com/i/spaces/1zqKV…

2/13 The early discussion was summed up neatly by @erwan_backed’s opening thesis:

"Biggest truth? RWAs will allow DeFi to scale to the next level - Biggest misconception? Security tokens should be confined to closed garden environments"

3/13 How are different nations handling a move into DeFi? Is the Swiss DLT mechanism, recognizing tokens as bearer assets, allowing a greater opening up for tokenized securities?

Is this the model the rest of the world should emulate?

Explainer 👉 pwc.ch/en/insights/re…

4/13 Meanwhile, will listing security tokens on platforms in the U.S. remain a hurdle? Or will the narrative loosen up in 2024? How are banks in Europe opening up around token transfers? Will US banks follow suit?

5/13 On the platform side, is Ethereum the greatest path to adoption? Or is a multi-chain world the way forward?

@jackchong_jc: “It's always about either solving pain points for users or driving liquidity, which in itself is partially the pain points for many users.”

6/13 @matthew_sigel: "Real world assets, for me, will allow DeFi and crypto to scale to the next level.

"My forecast is that financial institutions will tokenize $10bn in real world assets in 2023".

https://twitter.com/matthew_sigel/status/1602691871498715138

7/13 Then there is cost aspect of accessibility - how do we have freely transferable tokens, and within a legal framework that allows us to do so?... How do we enable tokenization - in a way that works for all markets?

8/13 @erwan_backed : "The first real issue we're trying to solve is there's a lot of folks in the crypto world and less developed economies that just don't have access to the financial products that we do in the Western world."

9/13 @matthew_sigel: "The lack of progress in the US of getting crypto asset dealers like Coinbase able to list securities - it may be that emerging markets skip a step".

10/13 Meanwhile, what can history teach us? Why did people spend years waiting for Amazon to fail? How did we go from "Why do we need apps?" to millions in the app stores?

In short, how do we navigate the birth - and misconceptions - of new products?

11/13 As @OxJMG puts it:

"I don't think any of us are fully contemplating what the future of programmability in DeFi could look like.

"How do you go from "this is cute" to "the creativity options are kind of unlimited?"

12/13 Some key reads that came up during the debate:

@jackchong_jc walks us through the maze with this definitive primer into RWAs:

https://twitter.com/jackchong_jc/status/1574745695654797312

Kevin Miao’s problem-busting explanation of where blockchain solves inefficiencies in tradfi: notboring.co/p/everything-i…

13/13 Enjoyed the Spaces?

Join @reserveprotocol’s Discord - where on-chain assets, tokenization efforts, yield vs stable baskets, and how all of this should be governed in the pursuit of stable money are the conversations taking place:

discord.gg/yq8fdQevNh