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Major investors are showing increasing attention to cryptocurrencies. Now even stock exchanges come to this market. But all is not so simple because of the differences in the principles of the functioning of stock and crypto-exchange platforms. The main idea of the stock market is that all digital processes must have legal force. Experts see solving the problem in the gradual tokenization of assets.
Tokenization is the process of managing and storing data, in which each asset is assigned a double digital code. Thus, the participants in the transaction manage assets directly using digital recording, which allows reducing transaction costs and increasing the speed and security of trades. In this case, we are not talking about the release of tokens, for initial coin offering (ICO), but the method of data processing.
Experts appreciate this trend, believing that the tokenization of assets will increase their value. For venture capital, the asset value increases gradually and the results are visible only in the long term. Therefore, small businesses working on the stock exchange, is more difficult to stay afloat than large, even under favorable conditions. Thus, the emergence of the cryptocurrency market became the answer to strict rules of market regulation.
This factor is due to the rapid rise of the cryptocurrency rate. However, this time is behind us and now the cryptocurrency market is entering a new stage. If anonymous cryptocurrencies attracted the attention of private investors, then with the introduction of legislative regulation - larger players began to pay attention to this sector of the economy. For the stock market, the lack of transparency is a negative factor, as it reduces confidence in the platform and forces third parties to be involved in the transaction as a broker. At cryptocurrency exchanges, such rules do not apply, because only two parties participate in smart contracts, and the third counterparty's participation increases the risk of the deal being broken.
The technology of blockchain combined the entire trade infrastructure, but made it more flexible because all functions within the system are distributed according to functions. Tokenization is based on the use of cryptographic methods for account management, a decentralized system of audit of decision making and interaction of components through open APIs.
Thus, this process can change the model of asset management. The decentralized infrastructure of the distributed ledgers will allow connecting additional modules to the bidding processes, which can change the very business model of the stock exchange. Open APIs will make the process of accounting for data transparent and will provide transaction participants with the ability to monitor assets in real time. This can be achieved by synchronizing data and increasing the speed of calculations. The transaction will take just a few minutes, not a few days.
Transfer of assets into the digital form would add new qualities to them, for example, files could be divided into several smaller parts and operated separately. One of the additional functions would be voting, for example, the choice of optimal variants among candidates. Similar functions are already tested in pilot projects. Thus, tokenized assets will cost more due to their functions.
Of course, there are some pitfalls. The main problem is the ability to provide people access to new functions. This would require the development of additional regulatory rules. For example, it would be necessary to participate in closed tenders to limit the range of investors. And this will have to be done in manual mode, introducing additional algorithms. In the future, working with such assets will require common standards.
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