Real World Assets – The Key to Legitimization of Crypto as a Currency

Real World Assets – The Key to Legitimization…

Real World Assets – The Key to Legitimization of Crypto as a Currency

One of the ultimate hopes for blockchain technology is mass adoption through legitimization as a currency. Let’s dive in, starting with a bit of the history of currency itself, and how it became the foundation for the mass-scale collaboration required to build civilization.

In human history, one of the first fundamentals of collaboration was currency. An agreed upon marker of value allowed for equitable exchanges of goods and services. When efforts are recognized and valued, they increase. Contributing to projects beyond individual survival became possible and encouraged through the ability to represent the value of the resources, skills, and the effort necessary to build at scale. From here, specialization increased and expanded. New depths in research and production emerged. We could now feed ourselves through compensation for talents unrelated to securing food. Efforts and exploration into higher pursuits exploded. Oceans rise with each drop of water. Complex projects beyond the capacity of any one person took shape. Projects with collective value could now be built at scale, by compensating the underlying value of the participation necessary to create it. Currency consensus provided the framework for physical collaboration.

Radical Leap Forward

Widespread consensus in value is a central human truth that has been with us since the beginning of civilization. Ultimately, it was essential in creating it. The same value consensus required to build a rocket to the moon began with transforming sticks and stones into mankind’s first tools and bartering with them.

Inherently, blockchain emerges from ancient roots. These original ideas live on today. Blockchain technology both re-examines and expands upon the fundamental agreements behind shared value. Decentralizing the power, value, and control itself, while offering never-before-seen global transparency, blockchain becomes a radical leap forward. We now have the potential for a system of worldwide trust in a transparent, shared, and secure currency without borders.

Blockchain technology offers the opportunity for effortless transparency in digital space. As real-world value (RWA) from physical space arrives on-chain, the transparency needed to expand the bridge of trust evolves but remains vital. As this bridge reaches beyond what can be verified exclusively in digital space, transparent and competent physical management of assets by trusted companies becomes the new frontier for the bridge of trust so fundamental to blockchain. Value must be verified to maintain trust and consensus. The social and digital contract of accountability that upholds blockchain must remain foundational.

RWA Revolution

The real-world asset revolution will be won by companies wholly embracing on-chain transparency at every level of operation. Owning the requirement to be accountable to its community of customers, as an open ledger itself. From financial records at all levels of profit and expenses, to consistent examination and reassurance of the physical assets value itself, companies who embrace transparency and co-ownership as stewards of their communities will build transparency bridges of trust between physical assets and their digital representation. Nothing less will achieve widescale adoption of real-world assets on blockchain. Nothing less will honor the spirit of the principles that founded blockchain. Secrecy is the old guard of the old world. Trust is a gift that must be earned with dedicated action.

Bringing real-world value on-chain and accepting cryptocurrencies to purchase it is a pioneering frontier. Ultimately, the ability to buy tangible physical assets with cryptocurrencies will legitimize and solidify its value as a currency. Collaboration can be scaled using blockchain, just as civilization used currency to do the same to create itself. Collective ownership becomes the shared steward of value creation, preservation, and shared rewards. These are innovative and exciting times. A true currency by and for the people is emerging as the new standard. Real world assets on-chain expand its purchasing power in vital and meaningful ways. The creation of assets we can trust becomes the new benchmark of legitimacy. At Revolve, we are excited to be part of this movement.