Template-Type: ReDIF-Paper 1.0
Author-Name: Iñaki Aldasoro
Author-X-Name-First: Iñaki
Author-X-Name-Last: Aldasoro
Author-Name: Sebastian Doerr
Author-X-Name-First: Sebastian
Author-X-Name-Last: Doerr
Author-Name: Leonardo Gambacorta
Author-X-Name-First: Leonardo
Author-X-Name-Last: Gambacorta
Author-Name: Rodney Garratt
Author-X-Name-First: Rodney
Author-X-Name-Last: Garratt
Author-Name: Priscilla Koo Wilkens
Author-X-Name-First: Priscilla
Author-X-Name-Last: Koo Wilkens
Title: The tokenisation continuum
Abstract: Tokenising claims involves transforming them into tokens on a common programmable platform that combine a core layer, which contains information about the tokenised asset and its ownership, with a service layer embedding the platform's rules and governance.
Tokenisation enables the automation of transactions involving money as well as financial and real assets, opening the way to the contingent transfer of claims and combinations of transactions via smart contracts.
Economic, legal and technical challenges span a "tokenisation continuum" which describes the feasibility of tokenising traditional assets; gains are modest where tokenisation is easiest but the most valuable gains would involve the largest challenges.
Length: 9 pages
Creation-Date: 2023-04-11
File-URL: https://www.bis.org/publ/bisbull72.pdf
File-Format: Application/pdf
File-Function: Full PDF document
File-URL: https://www.bis.org/publ/bisbull72.htm
File-Format: text/html
Number: 72
Handle: RePEc:bis:bisblt:72