Klaytn is expanding its offerings to focus on the tokenization of real-world assets like jewelery and real estate on its blockchain.
The Clayton Foundation, the entity responsible for the enterprise blockchain platform Clayton, has announced its intention to use blockchain technology to drive positive social change. The foundation aims to improve financial penetration in Asia and other parts of the world by facilitating the development and deployment of new and related projects built on the Klayton blockchain.
As stated in its roadmap for 2023, Clayton Foundation It aims to become the foundation of the future on-chain world by implementing core infrastructure powered by blockchain. The foundation will kick off this campaign with the RWA Tokenization Program, which helps projects create tokenized versions of real-world assets. One of the partners is CREDER, a financial firm that is building a gold-centric decentralized finance (DeFi) ecosystem. Through its offerings, Credar provides investment opportunities related to virtual assets, gold and USD.
Other partners include Tokeny Solutions and Alicia. While Tokeny helps businesses create and issue fully compliant tokenized versions of assets, Alicia focuses on tokenizing commercial and residential real estate.
The Clayton Foundation is providing a comprehensive token solution to support and accommodate a wide range of tokens. The Foundation also handles other parts of the issuance process, including trading and storage. Additionally, Klayton’s tokens are governed by a new token standard designed to ensure that all projects deployed on the blockchain meet the necessary compliance requirements.
Clayton is ideal for blockchain tokenization
The Foundation believes that its infrastructure makes Klayton the ideal blockchain to support the tokenization of real-world assets. First, among the L1 blockchains compatible with the Ethereum Virtual Machine (EVM), Clayton has the lowest transaction latency. Additionally, network fees on Klaytn are 2,500 times lower than before Ethereum, This makes it easier and somewhat attractive for projects looking to tokenize to be attracted to Klayton.
Additionally, Klaytn significantly improves the security and transparency of the tokenization process as anyone can automate ownership management and audit record transaction history. Additionally, Klaytn offers increased accessibility as the blockchain supports fractionalization of high-value assets. Common examples include jewellery, precious metals, artworks or real estate.
According to its website, Klaytn has a market cap of more than $399.5 million. The blockchain has a block time of 1 second and an average of 5 transactions per block over the last 24 hours.
Klaytn was launched in June 2019 to accelerate the mass adoption of blockchain technology defi, Shortly after launch, Clayton had over 40 ISPs (Initial Service Partners) across a range of sectors including finance, e-commerce, healthcare and entertainment. These ISPs also operate in at least 12 different countries. In May 2020, Clayton partnered with the decentralized oracle network Chainlink. The partnership was to create tools that help interface with traditional and off-chain enterprise structures.
Klaytn attracts developers with its easy interface and friendly environment. The platform has actively participated in several high-value projects, including the Bank of Korea CBDC (Central Bank Digital Currency) Pilot. Klaytn has generated over 1 billion transactions initiated on over 300 decentralized application dApps.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to strip down the secrets of crypto stories to the basics so that anyone anywhere can understand without too much background knowledge. When Tolu is not deeply immersed in crypto stories, he enjoys music, loves to sing and is an avid film buff.
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