Solutions

Everyone wants the same destination. Nobody starts from the same place.

A sovereign register, a bank, an exchange and a property developer are all trying to make an asset tradable. Each is blocked by something the others are not — mandate, admissible product, supply, permission. Start from the one that describes you.

Common to all of them

The same four questions, in a different order.

  1. What exactly is being tokenized?

    Ownership, a revenue right, a usage right, or a claim on a vehicle that holds the asset. The answer selects the regulator.

  2. Where does the authoritative record live?

    Anchoring a hash to a chain and making the chain the record are different decisions with different legal consequences. Most programmes never take this one explicitly.

  3. Who admits it, and on what basis?

    A token that no supervisor has admitted is not a product. Admission is the long pole, and it is jurisdiction-specific.

  4. Who runs it on a bad Tuesday?

    Corporate actions, redemptions, a sanctioned holder, a court order, a wind-down. If these were not designed in, they will be improvised.

Most tokenization programmes stall because question three was left until after question four was already answered in code.

Not sure which route is yours?

Describe the asset and the market. We will tell you what the path looks like.