Blockchain 2019: How crypto will convert cash, property into digital assets
In 2019, the most innovative work involving distributed ledger technology (DLT) – blockchain – will focus on the tokenization of assets, or the ability to represent digital or physical assets and fiat currencies as tokens that can be sold or traded on a network.
DLT has the ability to take anything, from a piece of artwork to gems and real estate, and represent them as cryptographically hashed assets on a peer-to-peer, open electronic network that has no central authority, such as a bank, governing their trade or sale.
Representing digital or physical assets as tokens on a DLT-based network enables participants to reinvent processes and develop new business models – uncharted territory from both a business and technology perspective, according to a new report from Forrester Research.