Reflecting on recent capital markets events, meetings and discussions in London, New York, Frankfurt, Paris, Zurich - almost everybody immediately understood the value created by standardization for the benefit of the newest of all asset classes: the DAC
- the Digital Asset Class.
The best thing that could happen to this asset class, is the natural wash out of pure speculation in Q1, now reducing discussions to those, that have higher interest in positive development of this asset class: working businesses, DApps with value, solutions
for existing problems, platforms supporting digitalization in different ways, higher security, less middlemen, democratic and market supportive consensus solutions and much more. We have reached the point of no return for the DAC. I might be wrong, but my
view is, that tokenization will create millions of tokenized assets over the next decade. Anticipating such a development clearly shows the DAC requires standards, transparency and scalability to make it to the next level.
3 digit alphanumeric codes of most of todays digital asset, e.g. BTC for bitcoin - are everything but scalable. Decentralized markets with locally different regulation are far from mature and hinder international development. Fintech & DEXs having to hire
some 40 % of their staff in legal departments - yes, not only expensive and time consuming, but far from scalable, locally and even less globally.
Now talking so many minded alikes on different continents in days and the strong willingness to join forces towards the better, made us create a global initiative towards the honorable goal to co-create standards for the Digital Asset Class, educate more
participants about the DAC and by our efforts reach the joint goal of more transparency, stability and scalability for this impressive new asset class, that introduces new flavors and brilliant ideas every single day.
Stay tuned for more news shortly, here on Finextra or: https://www.standards-consortium.org/