Tokenized assets the stocks and commodities gold and others

avikz

legendary

Activity: 3080

Merit: 1500

Quote from: 325btc on March 15, 2022, 03:28:38 AM

There is gold backed coins existing but for example: oil crude oil coin if oil prices going to up its too complex to buy shares on legacy market to hold coin by using crypto is much easier for example i dont need gold much easier and faster is to hold gold coins would be perfect if there will be oil backed coins also and even the electricity.
Also are there any salt coins ??

Nothing that I am aware of! Venezuela president had started an oil backed cryptocurrency called Petro couple of years back and it failed immediately after the launch. We do have gold backed coins in the market as well which are also not doing great! The matter of fact is that, tokenization is not needed for everything. Every single asset doesn't have to be broken down into millions of small token asset so that it makes easier for everyone to hold it. It's not a necessity.

When there is no necessity, such tokens are bound to fail in the market. Crypto market needs consolidation and not bifurcation. This is the only way crypto market would survive the test of time. Tokenizing everything is like a palace built by cards that is too unstable!

bearexin

full member

Activity: 1162

Merit: 168

I would say that crypto is so far ahead of everything else that, people prefer to hold coins instead of those things so the fact that the possibility of holding those things but using crypto to do so never really took off.

First of all, KYC is on a whole another level for those things, which makes it a bit more difficult, nobody really wants that.

Secondly, oil type of things do not have any guarantee to go up in the future, or even be used anymore. Gold has a future, but even gold is too slow growth compared to bitcoin. This is why all of these stayed with the fiat world when we moved to crypto and that is why it's a bit more rare.

hugeblack

legendary

Activity: 2702

Merit: 4002

The problem lies in centralization, how will these currencies maintain the link to those values, and will they be able to meet their actual value if real crises occur, for example, the price of a barrel of oil in futures contracts was less than zero dollars in 2020^[1] and today it is about 100 USD^[2]? Who will be able to pay this money?

In other words, what is happening is speculation in value without having a reserve, and therefore at some point it will be difficult to meet the requirements for the value of oil at the time of sale, unless what is meant is a real purchase of oil barrels and its storage, and therefore when buying or selling takes place, you exchange those shares for real oil Or salt or something else.

BTW, USD is linked in one way or another to oil, and most of the buying and selling of oil (80%) is done using USD.

[1] US Oil Prices Fall Below Zero For The First Time In History
[2] https://www.marketwatch.com/investing/future/crude%20oil%20-%20electronic

325btc

jr. member

Activity: 224

Merit: 5

There is gold backed coins existing but for example: oil crude oil coin if oil prices going to up its too complex to buy shares on legacy market to hold coin by using crypto is much easier for example i dont need gold much easier and faster is to hold gold coins would be perfect if there will be oil backed coins also and even the electricity.
Also are there any salt coins ??

Topic: Tokenized assets the stocks and commodities gold and others (Read 62 times)