The Klaytn Foundation has proposed an ambitious strategy to use blockchain technology to bring about positive social change. By assisting a new generation of initiatives running on the Klaytn blockchain, it hopes to promote better financial accessibility across Asia and the rest of the globe.
By putting in place key societal infrastructure, the Klaytn Foundation said in its 2023 roadmap that it aims to make Klaytn the public fundamental layer of the onchain world of the future. It has now clarified the particular use cases that would be essential in attaining this objective, beginning with RWA tokenization.
The Klaytn Foundation has brought on a number of partners to assist move real world assets onto the blockchain in order to launch its RWA program. These include Tokeny Solutions, which assists companies in issuing RWAs while adhering to all regulations, and CREDER, a financial platform specializing in digital assets backed by physical gold. The foundation has also integrated Elysia, which among other tokenized RWAs is facilitating the trading of residential and commercial real estate.
The Foundation is sure that the Klaytn blockchain’s architecture, which has one of the least transaction latencies among EVM L1s and whose network fees are 2,500 times cheaper than those of Ethereum, makes it the perfect choice for hosting tokenized assets like real estate, precious metals, and fine art. Transparency, accessibility, and security might be greatly enhanced by being able to automate ownership management, fractionalize high-value assets, and record transaction history on chain.
By offering the infrastructure to accommodate a wider variety of RWAs, Klaytn Foundation also hopes to help its RWA tokenization initiative. In order to guarantee that compliance standards are followed, the Foundation is now working on solutions for token issuance, asset storage, and trading. This work is aided by the development of a new token standard for RWAs.
The Klaytn Foundation is convinced that it can advance new use cases for blockchain technology while enacting meaningful social change via projects like the RWA program. In the process, it will bring additional companies onto the web3 platform and demonstrate how the technology can reshape international markets.