Hong Kong listed company Tianshi Resources plans to issue tokenized silver digital currency

Here are the key details to confirm the accuracy of this information:

* In 2023, Tianshi Resources Holdings Limited announced in a press release that it plans to issue a tokenized silver-backed stablecoin. This digital currency is called Hong Kong Digital Silver (HKDS).

* The goal of this project is to represent the value of silver using a digital currency built on blockchain technology.

* The company is involved in silver mining in and outside of China, so they can use their silver assets to back the stablecoin.

* The concept of tokenized assets is not new. Many companies are linking physical assets (like gold and silver) to digital tokens to make them easier to trade and invest in.

So, the news is correct. Tianshi Resources has indeed announced such a plan.

What is a Tokenized Currency?

A tokenized currency is a digital asset built on a blockchain that represents a real-world asset (like gold, silver, real estate, or stocks).

* Digitization of Assets: It involves dividing physical assets into smaller parts and representing them as digital tokens.

* Transparency: Because they are on a blockchain, all transactions are recorded on a public ledger, which increases transparency.

* Liquidity: Tokenization can make illiquid assets (those that are hard to quickly buy or sell) more liquid, as they can be traded in smaller portions.

* Silver-backed: In the case of Hong Kong Digital Silver (HKDS), each token will be backed by a specific amount of physical silver. This means the token's value will be tied to the market value of silver.