Tokenization can benefit forensic analysis World Token Summit panel.

During the World Token Summit 2023 in Dubai, a panel was held to discuss the economics of tokenization and how adoption could be increased through tools such as address tracking and forensics analysis. Participants included Jeremy Firster, the global head of partnerships at the Cardano Foundation; Meng Chan Shu, the head of business development at the Ras Al Khaimah Digital Assets Oasis (RAK DAO); and Ellis Wang, who works with the executive and advisory team at The Private Office of Sheikh Saeed bin Ahmed Al Maktoum.

The discussion covered various topics related to tokenization such as the benefits of digitalizing assets, challenges organizations may face in navigating the realm of tokenization, transparency, and security. Firster highlighted that tokenization’s benefits are found in utility creation, providing access, fund distribution, and fragmentation of assets. Wang added that transparency and security are inherent features of blockchains, which give tokenized real-world assets advantages such as the flexibility brought about by smart contracts. However, organizations may face challenges when navigating the wave of tokenization, such as keeping up with the latest developments and ensuring that funds don’t come from illicit sources.

Firster suggested that forensic analysis could help scale adoption and that it’s all about the rules of how many previous transactions they need to look into in order to ensure that these funds are clean and clear for use within a trade finance model. He also talked about the need to determine on-chain if an asset is genuinely connected to an asset outside of the blockchain.

Despite the challenges, the panelists believe that tokenization offers a big opportunity for many industries and encouraged the community to keep building.

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