![Tokenization.jpg](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/Tokenization_555c86aeea.jpg)

In March of this year, the CEO of BlackRock (the world's largest asset manager with over $9T) made a bold [statement](https://finance.yahoo.com/news/blackrock-ceo-says-next-generation-120411520.html?guccounter=1\&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8\&guce_referrer_sig=AQAAAKAK-L73HI8RykmrgXwa72T5fh277ujQ-6qfS4EDbbNMexFYotDLf84jDFR9fIDDoK-skCfrr9rpqo-yktiPqUAcHJnY6qzHLNB8c2oiuqKkEfFOSZE6HOnDiY1nnofmZ6Ia_rx4ENpJxzb2EcdSBtHVWojPgy5T6t31haTPBA8W): “The next generation for markets, the next generation for securities, will be the tokenization of securities.” Tokenization of assets is a blockchain use case that involves representing real-world assets (RWAs), such as real estate, shares, commodities, and even loyalty points, as digital tokens. These tokens can then be traded on blockchain-based exchanges or transferred to other users.

This article looks at one of the most significant blockchain narratives of 2023 and how enterprises and Web3 organizations can prepare for the coming wave of tokenization.

## The Tokenization Timeline of 2023

Below are a few tokenization happenings that have made headlines so far this year.

*   January: Goldman Sachs announces their digital assets platform GS DAP is live and issues the [first fully digital bond](https://blog.digitalasset.com/news/goldman-sachs-tokenization-platform-gs-dap-leveraging-daml-goes-live) on a private blockchain
*   June: Bank of America releases a report that estimates traditional [asset tokenization reaching over $16 trillion](https://rsch.baml.com/access?q=s-i517792VNkDKydHLEioQ), transforming infrastructure and markets over the next 5-15 years.
*   June: Swift, a global messaging system that connects over 11,000 financial institutions, implements a successful [tokenization pilot](https://www.swift.com/news-events/press-releases/swift-unlocks-potential-tokenisation-successful-blockchain-experiments).
*   July: JPMorgan Chase announces successful [tokenization of ownership interests](https://www.jpmorgan.com/content/jpm/jpmorgan/global/US/en/solutions/treasury-payments/insights/blockchain-onyx-asset-tokenization.html) in Money Market Fund (MMF) shares as collateral.
*   September: [Tokenization Advocacy Group](https://www.coindesk.com/business/2023/09/07/tokenization-advocacy-group-wants-to-bring-the-next-trillion-of-assets-to-blockchain/) by Coinbase, Circle, and Aave is founded in an effort to expedite tokenizing the “next trillion dollars of assets.”

## Why Are Institutions Buying Into Tokenization?

The world's financial and business systems rely on a complex, slow, and fragmented web of technologies that lead to operational friction and wasted time. Tokenization solves this problem by creating a standardized and interoperable way to represent assets and transactions, which can be used to automate and streamline processes across different systems.

In other words, tokenization breaks down silos between different systems, making sharing data and moving assets easier. Here are just some of the benefits:

*   **Instantaneous settlement:** Tokenization can enable real-time settlement of asset transactions, reducing counterparty risk and improving efficiency by eliminating the need for many intermediaries to process and approve transactions.
*   **Reduced fees:** Tokenization can automate many of the manual processes involved in trading and managing assets, leading to significant cost savings by reducing the need for paperwork, reconciliation, and other administrative tasks.
*   **Increased liquidity:** Tokenized assets can be divided into smaller denominations and traded on exchanges, making them more liquid and accessible to a broader range of investors by reducing the minimum investment threshold and making it easier to trade assets.
*   **Enhanced transparency:** Blockchain technology provides a public and tamper-proof ledger of all asset transactions, which can help to increase transparency and accountability in the financial system by making it easier to track and audit asset ownership and transactions.
*   **Expanded access:** Tokenization can democratize access to assets by making them accessible to retail investors and those in emerging markets by reducing the barriers to entry, such as high minimum investment requirements and complex paperwork.

## Enterprise Use Cases for Tokenization

Here are some specific examples of how blockchain tokenization is being used in different industries:

*   **Retail:** Tokenization enables new ways to interact, pay, create, and earn with digital tokens used to represent information and provide new frameworks for rewards, access, and ownership. From social media to eCommerce, tokenization is unlocking new experiences, investment mechanisms, and income streams for consumers and businesses alike.
*   **Healthcare:** Tokenization is transforming healthcare by improving interoperability between providers and systems. Tokenized medical records and other sensitive data can be stored on a tamper-proof ledger, ensuring a higher standard of privacy and security.
*   **Finance:** Tokenization is creating a new foundation for financial operations, from banking to exchanges. Enhanced on-chain ownership, tracking, transparency, and accelerated settlement are making financial transactions faster, more scalable, and more affordable. Tokenization also enables 24/7 trading of all desired digital security tokens.
*   **Supply chain:** Tokenization is revolutionizing supply chains by providing transparency, traceability, and security at every step of a product's journey. Immutable record-keeping minimizes the potential for fraud or errors, optimizes supply flows, and increases trust among all participants.
*   **Real estate:** Tokenization is increasing the transparency and security of title records, reducing transaction costs, and expediting property transfers. A new framework for mitigating fraud and property ownership management is emerging, providing a more efficient and equitable real estate market for all.
*   **Energy:** Tokenization enables individuals and organizations to trade energy as a commodity and sell excess power back to the grid. This creates new revenue streams for energy producers and harnesses a secure and transparent means of tracking energy production and consumption.

## Enable Tokenization for Your Enterprise With Ankr

**Best Practices for Blockchain Infrastructure Behind Tokenization**

**Private:** In July of this year, Bank of America released a [Tokenization Report](https://rsch.baml.com/access?q=s-i517792VNkDKydHLEioQ) that detailed the benefits of tokenization and that blockchains such as Avalanche allowed for the modular creation of dedicated private blockchains on top of the network. A private blockchain is a blockchain network that is permissioned, meaning that only authorized participants can join the network. This can be important for enterprises that want to keep their data and transactions private.

> I’ll speak from a highly regulated U.S. bank. We are actually not allowed to do anything on a public blockchain, be it permissionless or otherwise. The rationale being safety and soundness. Most of the development you will see certainly from the U.S. banks, JP (Morgan), ourselves and many of the others, will be on a private blockchain. – Mathew McDermott, head of Digital Assets at Goldman (source: [Ledger Insights](https://www.ledgerinsights.com/goldman-sachs-tokenization-not-public-blockchain/))

**Interoperable:** An interoperable blockchain is a blockchain network that can communicate with other blockchain networks. This is important for enterprises that want to be able to exchange data and assets with other organizations.

**Secure:** A secure blockchain is a blockchain network that is protected from unauthorized access, hacking, and fraud. This is important for enterprises that want to protect their data and assets.

**Scalable:** A scalable blockchain is a blockchain network that can handle a large number of transactions without compromising performance. This is important for enterprises that want to be able to process a high volume of transactions.

**Compliant:** A compliant blockchain is a blockchain network that complies with all applicable laws and regulations. This is important for enterprises that want to avoid regulatory scrutiny.

Ankr's customizable blockchain infrastructure is designed to deliver all of the above benefits for enterprises.

## Create Your Private Blockchain With Ankr

**[Blockchain creation as a service](https://www.ankr.com/app-chains/):** Ankr empowers enterprises by creating highly customizable private blockchains on top of various blockchain ecosystems. Ankr offers diverse options for launching your blockchains with customizability at every level for infrastructure built around your unique use case. As the approved infrastructure partner for building dedicated blockchains on ecosystems like Polygon, Avalanche, and zkSync, Ankr simplifies blockchain development for all use cases. Ankr creates blockchains for projects while satisfying every requirement for infrastructure and engineering like validators, RPC nodes, block explorers, testnets, staking platforms, and more for completely custom blockchain solutions.

Join the Conversation on Ankr’s Channels

[Twitter](https://twitter.com/ankr) | [Telegram Announcements](https://t.me/anrknetworkann) | [Telegram English Chat](https://t.me/ankrnetwork) | [Help Desk](https://ankrnetwork.atlassian.net/servicedesk/customer/portal/10) | [Discord](http://discord.ankr.com/) | [YouTube](https://www.youtube.com/channel/UCErrNjCg6raOsq5MQ9fpIig) | [LinkedIn](https://www.linkedin.com/company/ankr/) | [Instagram](https://www.instagram.com/ankr) | [Ankr Staking](https://eth2.ankr.com/)


In March of this year, the CEO of BlackRock (the world's largest asset manager with over $9T) made a bold statement: “The next generation for markets, the next generation for securities, will be the tokenization of securities.” Tokenization of assets is a blockchain use case that involves repr

Tokenization’s Emergence In 2023 and Enterprise Use Cases

### About Aspecta 

Voyaging into the world of Web3, builders are at the core of enabling countless innovative ideas. Aspecta, the world’s leading AI-powered digital identity ecosystem, aims at revolutionizing data potential and empowering innovators worldwide.

Aspecta digital identity ecosystem is driven by the user-centric product, Aspecta ID, for identity holders to demonstrate technical skills, document achievements, and explore opportunities based on the insights derived from users’ web and on-chain data, as well as footprints across third-party applications.

By linking users’ accounts across Web2 and Web3 spaces, such as GitHub, Twitter, and digital wallet addresses, Aspecta ID offers personal webpage, soulbound tokens, and metaverse twins powered by the dynamic AI layer to decode the data insights. Meanwhile, with Aspecta ID smart login system, the interactive identity ecosystem enables users and third parties to store, transfer and utilize data across web2 & web3.

### Aspecta X CyberConnect

In collaboration with CyberConnect, Aspecta ID will leverage CyberConnect’s social graph protocol to construct the on-chain aspect of Aspecta ID, such as soulbound token, and social network for developers. Beyond the AI-generated personal webpage, Aspecta ID holders will then have the option to bring these stellar achievements on-chain. Specifically, Aspecta ID holders will be able to claim & mint unique NFT/SBT (e.g. skill, skill insights, experiences that are demonstrated on their Aspecta ID could be minted) within one click on their Aspecta portals. Then, these NFT/SBT will be automatically displayed on users’ Aspecta ID in a dedicated module. Meanwhile, Aspecta ID aims to help diversify the social graph of various users in the CyberConnect ecosystem by incorporating professional/technical perspectives.

### Aspecta Team & Funding

Incubated at Tsai CITY (Tsai Center for Innovative Thinking at Yale) in 2022, Aspecta is founded by serial entrepreneurs from Yale University, Tsinghua University, UC Berkeley, and McGill University. The team with disruptive AI genes owns 7 patents and papers in the field of AI, including large language models and graph learning algorithms. The Fellow of the Canadian Academy of Engineering and ex-Chief Scientist of Tinder, Steve Liu is also a member of the founding team and currently serves as the Chief Scientist.

Aspecta successfully raised $3.5 million in its seed round funding from leading global venture capital funds and industry partners; CyberConnect is one of the earliest industry supporters & partners of Aspecta.

Press release [(Tech Crunch)](https://techcrunch.com/2023/03/21/aspecta-nabs-3-5m-to-build-ai-vetted-coder-profiles/).

### Flagship Product -Aspecta ID Beta Launch

Aspecta ID has over 130,000 registered waitlist users. By the end of March 2023, Aspecta ID successfully concluded the Alpha launch with 200+ developers from both established technology companies and pioneering start-ups with CyberConnect community members actively involved.

Now, the team kicked off the Aspecta ID Beta Launch to expand the accessibility to a larger audience - an estimated 10,000+ developers will be onboarded through integration with 50+ ecosystem partners, such as OKX x Google Cloud Global Hackathon powered by Aspecta ID, early supporter giveback within the Aspecta community and Aspecta ID Ambassador Program.

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About Aspecta  Voyaging into the world of Web3, builders are at the core of enabling countless innovative ideas. Aspecta, the world’s leading AI-powered digital identity ecosystem, aims at revolutionizing data potential and empowering innovators worldwide. Aspecta digital identity ecosystem is d

Aspecta: Build the AI-Powered Digital Identity Ecosystem

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# Gabby World: A Fully Generative Autonomous World

Gabby World is the first fully AI-generated autonomous world, where users can raise AI characters, create scenarios/challenges, and explore to collect experiences – all through turning ideas into prompts.

In Gabby World, there are three key elements:

1. **AI-generated characters.** Gabbies are the natives of our autonomous realm and serve as your avatars. These AI-generated characters come in 16 distinct styles, each representing a unique personality type.
2. **AI-generated scenarios.** The mesmerizing Gabby World is built from thousands of Land pieces, each housing captivating Experiences for Gabbies to explore and collect.
3. **AI-generated storylines.** The world is Gabbies' playground, and they are born explorers who embark on adventures to collect Experiences and forge meaningful relationships with each other.

![img](https://link3-image.cyberconnect.dev/1e2a94b3-0a59-4710-b57d-85f115885e20/postImageFolder/a0374f908b81a4d6)

# Value Proposition: A world run by AI through on-chain prompts

What makes Gabby World special?

1. **Bottom-up AI-generated.** AI drives the very existence of this world – from World Map to adventures on each piece of land; from Gabby characters to their exploration stories.
2. **End-to-end user-generated.** Turn your ideas into natural language prompts, on which the world is built – from nurturing Gabbies to crafting experiences for others to explore.
3. **Fully evolving on-chain.** All core logics of the world, i.e. prompts, run on-chain. Combine and structure prompts in novel ways, and let new possibilities emerge endlessly.

![img](https://link3-image.cyberconnect.dev/1e2a94b3-0a59-4710-b57d-85f115885e20/postImageFolder/ad4b783a2e151e25)

# Architecture: Fully on-chain logics + off-chain LLM processing

Gabby World is the first project ever attempting to run all of its logics as prompts on large language models (LLMs) while having all prompts running on-chain.

- **It is self-operating.** The ‘world engine’ has been fully delegated to LLMs, with all ‘world logics’ created in the form of prompts in natural language, running fully on-chain as smart contracts. As long as blockchain and LLMs continue to exist, the world and your AI characters will live on forever.
- **It is self-governing.** The world governs itself through LLM as its 'brain' and on-chain prompts as 'neural system' to regulate the decision-making and rules of how the world progresses. For rule changes that require human intervention, we seek consensus and enforce them through Gabby DAO.
- **It is self-emerging.** The world evolves intrinsically through the ever-learning and -growing LLM which runs the core logics, and extrinsically through users’ codeless (natural language prompts) and permissionless (on-chain) participation. Every interaction of yours counts towards the spontaneous emergence of new features and properties.

![img](https://link3-image.cyberconnect.dev/1e2a94b3-0a59-4710-b57d-85f115885e20/postImageFolder/7279c4e6e1897dde)

# User experience: Turning ideas into prompts, and game on imagination

From a user experience perspective, the actions are simplified to the utmost – all you do is describe your ideas in natural language prompts.

- **Create and raise a Gabby.** Unleash your creativity as you raise your Gabby into any character you desire. Describe the traits you wish to add, from interests and hobbies to special abilities, turning your ideas into prompts shaping your Gabby's unique identity.
- **Send your Gabby out to explore the world.** Let Gabbies embark on adventures – randomly, selectively, or through prompts – to collect Experiences as cherished trophies and contribute to the prosperity of the Lands they traverse.
- **Create Experiences on a Lands.** Describe the scenarios and challenges as prompts – whether it is defeating ferocious dragons, solving tricky riddles, or immersing in breathtaking scenery. The only limit is your imagination.

A good early user experience reference is ‘Travel Frog’ or ‘旅かえる’, a Japanese SLG idle game which once achieved 30+ million monthly active user base.

![img](https://link3-image.cyberconnect.dev/1e2a94b3-0a59-4710-b57d-85f115885e20/postImageFolder/7e536337b2677d63)

# Core loop: A world with open purposes and computing power as the single constraint

Two critical principles have been taken into consideration in the design of Gabby World as an autonomous world:

1. **The world should have open (or no) purposes.** Just as Mother Nature has no definable purposes, all goals and objectives emerge from individuals and societies evolving within nature.
2. **The world should provide resources, and let economies emerge.** Just like how our Mother Nature provides air, water and soils from which we produce food and energy, these resources are not inherently priced by the nature, but only valuable in the eye of the users. Currencies and economies emerge as tools for human society as a result of exchange of these resources.

Following these principles, we arrived at the below core loop of Gabby World:

- **Prompts as the only resource.** As a project running fully on blockchain and generative AI models, the ultimate resource constraint we face is computing power, which translates to number of prompts the system is able to produce on a daily basis. Prompts are the only resource that any user needs – either as a Builder to create Experiences, or as an Explorer to add traits to Gabby.
- **Three-tiered ‘cooperative’ role structure.** Landlords are the most prestigious role with the heaviest responsibilities: defining themes and purposes of Lands, and setting rules (e.g. hurdles for creating Experiences) and reward mechanics (e.g. ‘tax rate’ of prompts rewarded daily) to attract Builders and Explorers. Builders contribute to Lands by creating Experiences on them to attract Explorers, while conforming to the rules. Explorers are the entry-level role which anyone can play by sending their Gabbies on adventures. The three roles are in a ‘coopetive’ relationship where they have to cooperate for the prosperity of their Lands, but compete for better reward structure.
- **Land Prosperity Index.** As a benchmark to determine how daily prompt resources are distributed as rewards across Lands, Land Prosperity Index is created to measure how popular, relevant, interesting and significant daily events (i.e. explored Experiences) are on Lands, and more prosperous Lands will be rewarded more prompts. The measurement is taken daily, solely relying on LLM to generate scores for events across Lands. Once a Land is rewarded prompts, these resources will be further allocated to Landlords (as ‘taxes’), Builders and Explorers through the reward mechanics defined by respective Landlords.

![img](https://link3-image.cyberconnect.dev/1e2a94b3-0a59-4710-b57d-85f115885e20/postImageFolder/85e86d096eff0c46)

Gabby World: A Fully Generative Autonomous World Gabby World is the first fully AI-generated autonomous world, where users can raise AI characters, create scenarios/challenges, and explore to collect experiences – all through turning ideas into prompts. In Gabby World, there are three key elemen

Re-introducing Gabby World: The First AIGC Autonomous World

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Scalar DAO is an Open-Source, Cross-Chain Leverage Protocol democratizing Margin trading on DEXs. It leverages blockchain for transparency, security, and efficiency. Operating across multiple blockchains, Scalar DAO connects users to diverse assets and markets. It is open-source and has decentralized decision-making, thus promoting innovation & shaping the protocol’s future. Scalar DAO aims to pioneer DeFi adoption and revolutionize the leveraged financial markets in DeFi.

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