DAO Labs
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Real World Assets (RWAs): A New Frontier for Social Mining Communities
Real World Assets ( #RWAs ) are on the rise as a possibility to revolutionize blockchain, especially for #SocialMining communities. Building on the possibilities of tokenization, physical assets such as real estate, artwork, and even local start-ups might provide an opportunity for community-based income generation. The relevance is found in realising where and why past attempts such as Venezuela’s Petro failed – due to political instability and technical difficulties.
For #DAOLabs Social Miners, RWAs integration might be beneficial not only in terms of financial benefit but also in terms of transparency and community decision-making. Let’s consider a case where a community of miners is tokenizing local assets like land or a small business. Through creating a division of these assets into smaller, shareable tokens, anyone lacked the resources to fund something larger.
Other important factors include; legal requirements and compliance issues concerning the structure as well as the type of blockchain implementation. Choosing a Layer-2 solution that has been around for some time, such as #Polygon or #Avalanche could make these tokens possible. Besides that, smart contracts’ integration and security will also play a crucial role in protecting these tokenized assets.
Unlike many other approaches associated with applying IT to social issues, this approach is about building new possibilities for reconstruction and development for communities. If well-harnessed, RWAs could help decentralized finance to reach the local hood, where people’s small villages could pull themselves into the overall world economy.
As with many new software technologies, it may be early days yet the prospects for RWAs in Social Mining are considerable. It will be a journey of learning, innovation and cross-cultural appreciation but the efforts could positively alter the life fortunes of countless people from different communities.
For #DAOLabs Social Miners, RWAs integration might be beneficial not only in terms of financial benefit but also in terms of transparency and community decision-making. Let’s consider a case where a community of miners is tokenizing local assets like land or a small business. Through creating a division of these assets into smaller, shareable tokens, anyone lacked the resources to fund something larger.
Other important factors include; legal requirements and compliance issues concerning the structure as well as the type of blockchain implementation. Choosing a Layer-2 solution that has been around for some time, such as #Polygon or #Avalanche could make these tokens possible. Besides that, smart contracts’ integration and security will also play a crucial role in protecting these tokenized assets.
Unlike many other approaches associated with applying IT to social issues, this approach is about building new possibilities for reconstruction and development for communities. If well-harnessed, RWAs could help decentralized finance to reach the local hood, where people’s small villages could pull themselves into the overall world economy.
As with many new software technologies, it may be early days yet the prospects for RWAs in Social Mining are considerable. It will be a journey of learning, innovation and cross-cultural appreciation but the efforts could positively alter the life fortunes of countless people from different communities.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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