Real world Assets on the BlockChain | Get Real world Assets on the BlockChain - Assignment

DeFi 201
#21

Hi

I found a couple real world asset sites for Crypto;

https://curioinvest.com/car/4 - This is a Ferarri investment site where a limited edition car is bought and held then sold. You can invest with Crypto and the profits are shared when the car is resold.

https://realt.co/ - A Real Estate investment fund for Crypto

And I used DMM

DMM
DMM1071×602 61.9 KB

I will be having a chat with curioinvest tomorrow as I have some ideas for something similar. They needed verification which is taking a couple days before I can invest in the car.

4 Likes
#22

Hi Amadeo,

I also think that IoT will bring value and real assets to the blockchain / DeFi world.

Growing Vegetables and fruits organically
What I was wondering about is that we have to make it possible for the farmers with the help of IoT to measure the used water, used electricity. And calculate labor and maintenance costs for growing vegetables and fruits. I would like to target city farmers with this idea so that the transport costs will be low. The farmers can provide a complete transparent pricing mechanism to its customers. The customers could order the vegetable before its produced and so finance the city farmer beforehand. This could be done with a DeFi protocol.

Benefits for the farmer:

  • The farmer has a real-time crypto(money)flow.

  • If the farmer gets popular the price of his vegetables will rise.

  • The farmer can do a crowdfunding for purchasing new equipment.

Benefits for the consumer:

  • The consumer has a transparent pricing list with what is used to grow the vegetables.

  • The consumer can invest in the farmer for example new equipment.

  • The consumer has the possibility to trade the bought vegetables to a higher bidder…

This could disrupt a lot in the way we are buying our foods. This will help the farmer or producer to get a fair price. This idea can be started local with small city farmers in the first phase…

What do you think Amadeo? maybe this can give some inspiration to someone.

Groet, Yavuz

3 Likes
#23

Amazing man good job :smiley:
It is for sure still small and also is early but you can now say your one of the first that got digital real estate :slight_smile:

1 Like
#24

This is for sure a great idea I like it.
I recommend to write out a project plan and see how you can create some sort of POC (Proof Of Concept) of this idea.

My recommendation would be to work this out and then see if you can find a DeFi hackaton and form a team and build the POC.

1 Like
#25

How is the reward rate getting better? I took a glance at the project since it is endorsed by Tim Draper and find it quite interesting as well.

1 Like
#26

Very interesting topic Amadeo! I used to work in International shipping and logistics and long ass waiting period for paid invoices were real killers of productivity! There is a huge future for this space.

While the implementations are limitless, I’m wondering what fail-safe mechanisms will be used to limit risk of defaults, so we don’t end up like the housing market CDO’s in 2008 or the business CLO’s of 2020 that are collepsing now? There should be 100% transparency for the liquidity providers in order to gauge risk, simply because companies can pull off Enron-style accounting tricks all the time. So while this system is amazing, we will need to come up with a bullet proof way of verification of solvability so that all parties involved can be sure that they won’t be defaulted on.

When it comes to applications, I can see this really helping out in the develpping countries, since a better and more efficient use of tokenised invoices can speed up the circulation of capital that might otherwise linger for months.

2 Likes
#27

If the power and potential of blockchain is recognized we do not need KYC in my opinion. freedom is a important right

2 Likes
#28

I couldn’t agree more. I’m very very bullish on privacy coins and I’m mining them for the sake of privacy and giving the finger to KYC. :slight_smile:

When it comes to DEFI, one of the most important factors that has to be kept in mind is human nature. All the shit like greed, fraud and other “creative” aspects will surface here as well. That’s why I’m not staking anything at the moment, waiting until all these childhood diseases are solved.

1 Like
#29

Please no more KYC / AML, this is only use nowadays to give authority to banks to be able to shutdown the access to many based on born country or residence for example. This clearly has not prevented money laundering or criminal activities. If any has allows banks to build schemes for customers to do this activities, then receiving a small fine by the regulators. Those fine represent a small percentage of the profits of course.

1 Like
#30

As stated in the linked source, I also believe that access to a free and open financial system is a human right. Interesting discussion about the need or no need for KYC/AML, and I also believe that it is not needed. I mean we don’t need to know who Pythagoras is, to use his theorem. And of course the institutions etc are afraid to go to a new system where KYC/AML is not needed, but as we know, who is involved the most money laundering? The Danske Bank money laundering scandal arose in 2017-2018 around €200 billion of suspicious transactions for example.

1 Like
#31

I agree with this but this is gonna be a hard battle see this law paper if you want to dive deeper:
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3485436

2 Likes
#32

Privacy should be a option, so individual can choose.

1 Like
#33

@amadeobrands

An example of a real world asset being tokenized on the blockchain is Spemcer Dinwiddie’s basketball contract: https://www.coindesk.com/the-brooklyn-nets-spencer-dinwiddie-makes-the-bull-case-for-tokenizing-entertainers

From my understanding, I believe he got half of his pay in advance from the money of investors that invested in his contract and the investors get tokens that represent a share of his contract. The shares then accrue interest.

While I don’t fully understand the benefit except for getting his money in advance, it is cool to see mainstream adoption of this technology in creative ways. Tokenizing entertainers and athletes seems interesting, in some ways it lays down the potential for decentralized sport leagues with decentralized team owners etc. Wild idea but in a world of interconnected blockchain networks… why not!

As far as KYC AML is concerned… I feel like the business/protocol on the chain has the right to ask for KYC if they please. If the user still wishes to do business with them, they can or they can find an alternative. KYC should not be mandatory

1 Like
#34

Interesting would be massive lets see when it gets picked up

2 Likes
#35

It is still a matter of trust, to verify the physical existence of a tokenised asset and the real identity of a kyc. This means kyc has to morphe into something else, where everybody can participate.

1 Like
#36

There is the golden DeFi ticket it would be amazing to construct a project that finds a solution to this?
I do think it can be done but it needs lots of brainpower to succeed … let me know if you see projects that are working on this.

1 Like
#37

What a cool set of lessons, really got me thinking.

As a US citizen the whole KYC issue stinks as an individual must be a certified investor to participate in most projects (RealT for example).

Looked through OpenSea and am flabbergasted that virtual shirts and masks and shoes for Decentraland are selling for the equivalent of 100s of USD. What is really strange is that there are plots of Decentraland selling for less MANA than some virtual masks and T-Shirts (saw one rare mask priced at 5ETH).

WiV prices look much more realistic but as someone else mentioned earlier there are no plans to actually deliver wine at this time,

Thanks for all of the information, this was a thought provoking section!

1 Like
#38

Opensea is a very interesting platform, I was actually surprised how many cool collectors items I actually thought of making offers on (but ETH fees, lol!). Here is a Reel to Reel tape recorder I am trying to score:

I am a studio professional (get at me for anything audio!) and have actually been looking for one of these! Just researching pricing to close it without multiple offers racking up fees…

As far as whether KYC will be needed, most will state they would rather not require it. This works well for decentralized financial systems, but when concerning RWA, the complexity massively increases.

For example, if I do purchase this tape machine I found (which would be $1k-3K USD for a pro unit like this), I would like some recourse should something go wrong.

I have had a few purchases go south in centralized markets like eBay, yet they were able to ensure I get my value out of the purchase. I just don’t see how the same is true NOW for markets like Opensea without some form of KYC. We can all agree on a right to markets, yet there is a certain standard purchasers of goods expect. Hopefully this is solved to a degree where KYC isn’t needed (or correct anything I may have missed).

1 Like
#39

This is the most important section for DeFi people really need to stop focusing on pointless yield etc … we need to build long term value we do this true adding real world assets to the blockchain.

1 Like
#40

Cool love it :smiley:
You should document what your doing there and how the process went.
Would love to document this process and publish how it went.

As for KYC … I think this can be solved by the seller also staking some $$$ in order to participate in the process. Then you can connect this to a group of 2-3 validators that will deside to release the payment or not.

1 Like