The blockchain industry today has become the very centre of digitalization, with its awesome features, it has provided solutions to real-world problems, from security to transparency in transaction and today, the blockchain is the preferred solution.
AN OVERVIEW
An economy as we know simply talks about an area of production and distribution or trade or simply the careful management of available resources.
A digital economy is simply an economy which is digitalized or one which is based on digital calculating technologies, which is also seen as conducting business through markets based on the web, a world where you could buy a house and a car with digital currency such as bitcoin or other cryptocurrencies, is what is known as a digital economy and that is where the world is heading right now.
The blockchain simply has the ability to revolutionize the shape of the world as we know it and that will be far more than it is doing at the moment. Although cryptocurrency hasn’t gained mainstream adoption in the world today, it still controls over $300 billion of the world economy and that shows lots of promise.
The idea of digitalizing the world economy is not just a concept, as today one can actually buy goods from certain vendors with the digital currency.
But although the ground has been set for new products, there has not been a means by wish existing assists can be digitalized or provision of a market for which they can be sold or traded. Today, however, a solution for all that is here.
INTRODUCING LIQUID8
Liquid8 is a peer to peer digital platform built on the Ethereum blockchain and its smart contract, where digitalization of old assets (asset tokenization) can be facilitated and a market where these assets can be sold.
CURRENT CHALLENGES OF GLOBAL ASSETS
Today, real-world assets have been plagued with much inefficiency, and some of these inefficiencies include;
- High cost of transaction: the acquisition or auctions of real-world properties today attracts high fees in the transaction process, as seen in real estate business which has a minimum fee of 10% and goes higher, and that’s a lot of money to pay for just facilitating transactions.
- Time consumption during transaction process: research has shown that transaction process of a real-world global asset is time-consuming, as completing a real estate deal is known to take no less than 6 weeks and even up to 6 months to complete.
With liquid8, there will be a complete elimination of the aforementioned challenges.
Liquid8 will be developing a simplified protocol on the ethereum blockchain which will be responsible for easy tokenization of real-world assets and an off-chain and on-chain asset-proof protocol which will ensure assets submitted for tokenization are validated for their compliance, existence, and ownership.
By utilizing an interplanetary file system (IPFS) which is a decentralized peer-peer file sharing system that provides a low latency data distribution, liquid8 will be able to deliver content to websites, global store files and backups, facilitate a secure a file sharing and encrypted communication.
With these features, liquid8 will be able to create a real-world asset-backed token which will have real-world asset stability, reduced volatility combined with the blockchains efficiency, transparency and security, and they will also have a market in which these tokenized assets will be sold or exchanged and lots more.
IN CONCLUSION
Liquid8 will have a close relationship with the government/regulatory authorities from all over the world, making it possible for all tokenized assets to follow legal complaints and international AML (anti-money laundering) procedure.
Liquid8 is bringing a digitalized economy void of all mistakes and challenges faced by our today’s economy.
You have everything to gain by partnering with this grand breaking revolution via its initial coin offering (ICO). For more information about the LIQUID8 project and its ICO, you can use the links below:
Author: Sorento
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