Exploring Real-World Asset Tokenization and its Potential in Web3 Space with Kula DAO Co-founder
Summary:
In the latest episode of the Hashing It Out podcast, host Elisha Owusu Akyaw interviews Kula DAO co-founder, Micah Yeackley, discussing the tokenization of real-world assets on the blockchain, its prospects in the Web3 space, and implications for developing markets. They also discuss the implications of blockchain-based RWAs for individual and institutional investors. Yeackley highlights the versatility of real-world asset tokenization, the improved governance structures with "DoubleDAO", and the challenges of regulating these sectors. At last, he brings up the idea of regulation being the first step, not the last, in a sector with traditional financial regulation.
In the newest episode of Cointelegraph's podcast, Hashing It Out, Elisha Owusu Akyaw, the host, engages in a discussion with Kula DAO's co-founder Micah Yeackley. They delve into Kula DAO's project of tokenizing real-world assets (RWA) on the blockchain technology, the potential of this industry in the Web3 arena, and what it symbolizes for growing markets. They also explore critical issues such as regulations and the ramifications of blockchain-based RWAs for both individual and institutional investors.
Yeackley elaborates on how the tokenization of RWAs is not limited to a specific type of asset but expands onto several asset types. Despite Kula's initial focus on natural resources, there was a realization that anything with value in the real world was capable of being tokenized. Assets like water resources, agricultural projects, and real estate can all be tokenized. Given the vast range of RWAs that can be tokenized, Yeackley opines that projects will have chances of better benefits by having a varied pool of assets, aligning with Kula's strategy.
Yeackley presents the concept of "DoubleDAO", which is a fundamental part of Kula DAO's governance structure. It integrates the best elements of Web2 and Web3 governance mechanisms, maintaining a checks and balances system during the decision-making process of the decentralized autonomous organization (DAO). It safeguards the expressions and participation of significant stakeholders through layered asset protection.
Entities directly impacted by the assets can get involved in decision-making in the 'RegionalDAO', a part of DoubleDAO. Yeackley also discusses the project's implementation in Zambia, which has instigated improvements at a partner mine. These include the introduction of equal pay for women and the establishment of community amenities due to the voting process.
Turning to regulations, Yeackley states that it's challenging for sector projects to be regulated and that Kula has been preliminarily approved by Dubai's Virtual Assets Regulatory Authority. It is now on track to be the first to tokenize natural resources and commodities as an RWA DAO. Yeackley asserts that regulation should precede, not follow, in a sector that sees a significant amount of regulation in the classical financial realm.
For more discussions, tune in to the latest episode of Hashing It Out on platforms like Spotify, Apple Podcasts, or TuneIn. Also, explore Cointelegraph's full list of enlightening podcasts on the Cointelegraph Podcasts page.
This article is meant for general informational purposes and should not be considered as legal or investment advice. The viewpoints, ideas, and opinions expressed here are solely those of the writer and do not necessarily correspond to or represent the views and thoughts of Cointelegraph.
Published At
4/11/2024 3:05:00 PM
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