Blockchain DXB: Crypto & Coffee at 8 ☕ 24th Sep 🚨 Tokenized asset - $10T by 2030? 👀BitSNARK - Zeroknowledge verification for BTC 🚀Chainlink TX 296%🚀 Visa Fiat-Backed Tokens on Ethereum
Blockchain DXB
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26th Sep: Blockchain DXB Podcast 🚨 Tokenized asset - $10T by 2030? 👀BitSNARK - Zeroknowledge verification for BTC 🚀Chainlink TX 296%🚀 Visa Fiat-Backed Tokens on Ethereum
📊 According to the Chainlink report here https://shorturl.at/5Lnq8) the current value of tokenized assets sits at approximately $118.57 billion, with primarily Ethereum dominating the market, holding 58% of all tokenized assets.
- How Interoperability and Real-World Data Unlock the True Value of Tokenized Assets The report states by 2030, tokenized assets could represent 5-10% of global assets, valued at $10 to $16 trillion. The report discusses
- Market Opportunity
- Benefits of Asset Tokenization
- Types of Tokenized Assets
- Chainlink’s Role in Tokenization
- Risks and Security
- Automation and Data Services
🎙️ Check out the Blockchain DXB) episode for today we give reasons why we don't feel Tokenization will reach $10T by 2030. Discussion points below
- Lack of Proven Market Demand
- Regulatory and Compliance Hurdles:
- Technological and Security Risks
- Overestimation of Market Readiness
- Unlikely to Achieve Full Interoperability
- Overestimation of Tokenization Use Cases
- Previous Overestimations in Blockchain Space
👀 BitcoinOS (BOS) has open-sourced BitSNARK, a zero-knowledge (ZK) verification protocol for Bitcoin (BTC), currently priced at $63,592. BitSNARK allows privacy-preserving transactions and smart contracts without changing Bitcoin’s core protocol, enhancing its role in decentralized finance (DeFi). Edan Yago), CEO of BitcoinOS), hopes the open-source nature of BitSNARK will foster collaboration and innovation. via Cointelegraph here https://shorturl.at/iaAvo)
🚀 According to data from the IntoTheBlock) here https://shorturl.at/fLB8a) Chainlink whales have become active once again after a period of reduced activity. Whale transactions involving LINK tokens valued at $100,000 or more have seen a significant surge, with a notable 296% increase in large transactions. Additionally, the number of active addresses has risen by 14.7%. So, what’s driving this renewed activity? A combination of Chainlink's growing utility, upcoming upgrades, partnerships, and positive market conditions could be driving the increased whale activity.
🚨 Visa) has launched the Tokenized Asset Platform (VTAP) to assist banks in issuing fiat-backed tokens on the Ethereum network. This platform will leverage smart contracts to digitize and automate existing processes for exchanging real-world assets (RWAs) like commodities and bonds with near-real-time settlement. Spanish bank BBVA) will be one of the first institutions to utilize VTAP, planning a live pilot in 2025.
⚡ Two UAE news (See slides) ⚡ Bybit) launches Islamic account, expanding access to crypto trading for Muslim communities worldwide ⚡ Microsoft) expands its Global Engineering Development Center’s footprint in Abu Dhabi
For slides click here: https://shorturl.at/WE0v4)
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