Real World Tokenization Unpacked; An Overview of Anndy Lian’s Fireside Conversation

Real World Tokenization Unpacked; An Overview of Anndy Lian’s Fireside Conversation

Delving, into the world of real world tokenization goes beyond comprehending the technology; it involves understanding the complexities of a changing ecosystem that is set to transform various industries. Anndy Lian, a blockchain specialist and respected author known for his insights recently participated in a fireside chat that delved deeply into this topic. Led by Faraj Abutalibov, the Chief Commercial Officer of the Venom Foundation the dialogue unfolded into a range of perspectives providing guidance for both professionals and newcomers in the blockchain field.

Exploring Tokenization; Anndy Lians Journey

Lian’s exploration of blockchain began in 2013 when Bitcoins significance was just starting to emerge. His initial venture into cryptocurrency marked the start of a career that now includes advising governments on implementing technology and managing funds within Singapore’s dynamic financial sector. With experience ranging from investments to high level government consultations Lian’s insights are rooted in practical applications enriching the fireside conversation, with real world wisdom.

Uncovering Tokenization Trends

The conversation commenced with Lian presenting an overview of how tokenization has evolved over time.

From doubt, among governments to the current environment where even major financial institutions support the tokenization of Real World Assets (RWA) the journey has been truly transformative. Lian highlights the preparedness propelling this movement marking a moment when the foundation for efficient tokenization is stronger than ever before.

However amidst all the excitement Lian draws attention to a discussed issue. The lack of revenue models for ventures in tokenization. Drawing from experience he delves into the complexities surrounding assets such as estate pointing out the difficulties in achieving liquidity and establishing sustainable income streams. It serves as a reminder that while the momentum is undeniable addressing core business modelss essential for long term success.

Revenue Strategies; From Industry Leaders to Newcomers

Lians examination of revenue models reveals a landscape within the realm of tokenization. Established entities with sources of income may find stability. Startups encounter challenges, in securing significant funding amidst uncertainties. In this context Lians call for innovation resonates strongly highlighting the importance of approaches to asset tokenization and setting industry standards.

A notable success story emerges in art tokenization domain through Non Fungible Tokens (NFTs).
Lian demonstrates how NFTs can enhance the value of artworks making an argument, for their broader implementation across various industries.

Addressing Challenges; Overcoming Regulations and Doubts

The journey towards acceptance faces hurdles particularly in terms of navigating complex regulations and dispelling lingering doubts. Lian and Abutalibov highlight the lack of uniformity in asset standards and regulatory frameworks across regions as barriers. Tackling these challenges requires a structure and extensive educational efforts to clarify the practical benefits of tokenization.

Future Perspectives; Transformative Possibilities

Looking forward Lian discusses the transformative effects of tokenization on the sector. With expectations of increased efficiency he envisions a future where tokenization enables more cost effective money transfers assuming successful implementation in real world scenarios.

Promoting Adoption; Revolutionizing Retail

Emphasizing the role of users in driving crypto adoption Lian envisions a pivotal moment similar to Chinas adoption of digital payments that could spur widespread acceptance. His insights stress the importance of user interfaces and enhanced accessibility to create an inclusive environment for cryptocurrency adoption.

Exploring NFTs; Going Beyond Hype

Concluding his thoughts Lian mentions his book titled “NFT from Zero, to Hero ” underscoring the significance of education and simplification in navigating the realm of NFTs.
Despite the perception that NFTs are losing relevance they are actually expanding into areas, beyond art and gaming.

In a conversation Anndy Lian provides a view of how tokenization is being applied in real world scenarios highlighting both the challenges and opportunities it presents. His perspectives offer insights for individuals in the industry navigating this changing landscape encouraging innovation and fostering a shared journey towards harnessing its transformative potential. For those interested, in diving the conversation imparts a wealth of knowledge signaling a future where tokenization revolutionizes industries and opens up possibilities.

 

Source: https://wishu.io/real-world-tokenization-unpacked/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Overview and Importance of Blockchain Technology and Examining Blockchain Architecture | Ministry of Industry and Technology of Turkiye

Overview and Importance of Blockchain Technology and Examining Blockchain Architecture  | Ministry of Industry and Technology of Turkiye

“Overview and Importance of Blockchain Technology and Examining Blockchain Architecture” is the first session.

Blockchain technology has gained significant attention in recent years due to its potential to revolutionize various industries. In this article, we will cover the fundamentals of blockchain technology, its importance in different sectors, and delve into the intricate details of blockchain architecture.

Introduction to Blockchain Technology
Blockchain technology can be defined as a decentralized, distributed ledger technology that securely records and verifies transactions across multiple participants. Unlike traditional centralized systems, blockchain operates on a peer-to-peer network, where participants, known as nodes, connect and collaborate to maintain the blockchain. Each node has a copy of the entire blockchain and participates in transaction validation and block creation.

The core principles of blockchain technology are decentralization, transparency, security, immutability, consensus, and smart contracts. These principles form the foundation of blockchain’s functionality and distinguish it from conventional systems.

Overview of Blockchain Architecture
Blockchain architecture is the underlying framework that enables the functioning of a blockchain system. Let’s explore the basic components and architecture of a blockchain system:

Network and Nodes:
A blockchain operates on a peer-to-peer network, where participants connect and collaborate to maintain the blockchain. Each node has a copy of the entire blockchain and participates in transaction validation and block creation. Nodes communicate and agree on the validity of transactions and blocks using the chosen consensus mechanism. Through consensus, a shared view of the blockchain is maintained, ensuring consistency and trust among participants.

Public vs. Private Blockchains:
Blockchain networks can be categorized as public or private, depending on their accessibility and permissioning.

Public Blockchains:
Public blockchains are open to anyone who wants to participate and contribute to the network. Examples of public blockchains include Bitcoin and Ethereum. They offer decentralization, transparency, and security. However, they face scalability challenges and have limited privacy features.

Private Blockchains:
Private blockchains are restricted to specific participants who have permission to join and validate transactions. Examples of private blockchains include Hyperledger Fabric and Corda. They offer efficiency, enhanced privacy, and selective access. However, they may be more centralized compared to public blockchains.

Importance of Blockchain Technology in Various Industries:
Blockchain technology has immense potential to transform various industries. Let’s explore some of its applications:

Finance:
Blockchain technology has disrupted the financial sector by enabling faster and more secure transactions. It facilitates peer-to-peer transfers of digital assets, eliminating the need for intermediaries like banks. Additionally, blockchain-powered cryptocurrencies provide decentralized and transparent alternatives to traditional fiat currencies. Blockchain also offers solutions for cross-border payments, remittances, and smart contract-based lending, making financial processes more efficient and inclusive.

Supply Chain:
Blockchain has transformed supply chain management by increasing transparency and traceability. It enables the creation of an immutable record of every step in the supply chain, reducing fraud, counterfeiting, and unauthorized products. By tracking and verifying the origin, quality, and movement of goods, blockchain technology improves efficiency, ensures ethical sourcing, and enhances consumer trust.

Healthcare:
Blockchain has the potential to revolutionize the healthcare industry by providing secure storage and sharing of patient data. It allows patients to have control over their medical records, granting access to healthcare providers as needed. This decentralized approach improves data security, interoperability, and privacy while reducing administrative costs. Additionally, blockchain can facilitate clinical trials, supply chain management for pharmaceuticals, and the tracking of medical devices.

Government:
Governments are exploring the use of blockchain technology to enhance transparency, security, and efficiency. Blockchain can facilitate secure voting systems, streamline administrative processes, and improve the distribution of welfare benefits and aid. It offers a decentralized and trustless approach, reducing the risk of corruption and improving public services.

As the technology continues to evolve, it is expected to drive further innovation and transformation, revolutionizing how industries operate in the digital age. The implementation of blockchain has shown tangible benefits in terms of cost savings, efficiency improvements, and enhanced trust and security. Understanding the differences and use cases of public and private blockchains is crucial in selecting the appropriate type based on the specific requirements of a given application or industry.

Blocks:
Data Structure: Data in a blockchain is structured into blocks, with each block containing a batch of transactions. Depending on the blockchain’s purpose, these transactions can include various types of information.

Unique Identifier: Each block in the blockchain is assigned a unique identifier called a hash. This hash is generated using cryptographic algorithms and serves as a digital fingerprint for the block.

Hashing:
Cryptographic Process: Hashing is a cryptographic process where data from a block is converted into a fixed-length string of characters, known as a hash. This process is one-way, meaning it is computationally infeasible to derive the original data from the hash.

Chain Structure:
The hash of each block is included in the subsequent block, creating a chain-like structure. This linkage ensures the integrity and immutability of the blockchain. Any alteration in one block would result in a change in subsequent block hashes, making it evident that tampering has occurred.

Consensus Mechanisms:
Consensus mechanisms are methods used to achieve agreement, trust, and security across a decentralized computer network. They play a vital role in maintaining the integrity and consensus of the blockchain. Two popular consensus mechanisms are proof-of-work (PoW) and proof-of-stake (PoS).

Proof of Work (PoW):
This consensus algorithm is famously used in the Bitcoin blockchain. Miners compete to solve complex mathematical puzzles, requiring significant computational power. The first miner to solve the puzzle and validate the block of transactions is rewarded with newly minted cryptocurrency. PoW ensures that the majority of participants agree on the state of the blockchain.

Proof of Stake (PoS):
In PoS, the right to validate blocks is determined by the participants’ stake or ownership of cryptocurrency. Validators, known as “stakers,” are chosen randomly or based on the amount of cryptocurrency they hold. PoS consumes less energy compared to PoW and aims to reduce the computational power required for consensus.

These are just a few examples of consensus algorithms used in blockchain networks. The choice of consensus mechanism depends on factors such as security, scalability, energy efficiency, and the specific requirements of the blockchain network.

In conclusion, blockchain technology holds immense potential to reshape industries by providing decentralized, transparent, and secure solutions. Its architecture, consensus mechanisms, and applications are paving the way for a future where trust and efficiency are paramount. Embracing blockchain technology can unlock new possibilities and create a more inclusive and trustworthy digital ecosystem.

This video is part of a consultation session on “Technical Expert Service on Improvement of Public Sector Efficiency Using Blockchain-based Database”. The implementing organizations include the Ministry of Industry and Technology of Turkiye and the Asian Productivity Organization. The event was held in Ankara and Bolu, Turkiye, from 4–7 July 2023.

 

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Selecting a derivatives DEX: An overview & comparison

Selecting a derivatives DEX: An overview & comparison

For the purposes of this article, we’ll be looking broadly at these three measures: security and privacy, transaction and cost efficiency and lastly, token ecosystems and reward-generating offerings.

Trading volume on decentralized exchanges (DEXs) hit $32 billion within seven days in mid-November, recording another high since early June this year. This came after an explosive, tumultuous week in the crypto industry, which drove many investors — both seasoned and new alike — to take refuge in self-custodial, permissionless and decentralized trading platforms.

A variety of DEX models are available on the market at present; built on the principles of decentralization and financial freedom for all without restrictions, DEXs have been welcomed for the following reasons:

  • Removal of intermediaries supervising trades, where traders execute their trades based on immutable smart contracts
  • Greater security and privacy as only traders are privy to their data and such data cannot be shared/seen by others
  • Traders own their funds and assets, with multiple alternatives for fund recovery in the event of platform service suspensions or disruptions.
  • No access restrictions based on geographical locations or profiles, i.e., no KYC requirements
  • Community-focused, where stakeholders share in the platform’s revenue for providing liquidity, staking, and more.

DEXs such as Uniswap dominated the surge in November 2022, and traders are spoilt for choice when choosing a DEX to rely on, given the multiple options on the market. For seasoned traders searching for a derivatives alternative to capture trading opportunities and use every trading signal to the fullest, one could turn to derivatives DEXs — where margin trading and leverage options exist for customizable orders on various popular contracts.

Here’s a comparison of three derivatives DEXs that have shown up on traders’ radars recently, two of which are familiar to most traders — dYdX and GMX. The last DEX we’ll be looking at is the newly-launched ApeX Pro, which has increasingly gained attention after its beta launch back in August with recorded 6,000% growth in trading volume.

Let’s dive into the detail

dYdX is a leading decentralized exchange that supports spot, margin and perpetual trading. GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades and works on a multi-asset AMM model. And finally, ApeX Pro is a non-custodial derivative DEX that delivers limitless perpetual contract access with an order book model.

Comparison Criteria

For this article, we’ll be looking broadly at these three measures: (1) security and privacy, (2) transaction and cost efficiency, and lastly, (3) token ecosystems and reward-generating offerings.

The above is a non-exhaustive list of notable highlights from the respective DEXs. dYdX and GMX are trader favorites for good reasons, so let’s see how the new ApeX Pro fares against the other two DEXs.

(1) Security & Privacy

All three DEXs are on relatively equal grounds regarding privacy-preserving measures, of which self-custody of funds is a common denominator across — the importance of a trading platform that is non-custodial is undeniable in light of recent events.

In particular, both dYdX and ApeX Pro have added safeguards with the integration of StarkWare’s Layer 2 scalability engine StarkEx, allowing the users of both DEXs to access forced requests to retrieve their funds even if the DEXs are not in service. Additionally, STARK proofs are used in both dYdX and ApeX Pro to facilitate the accurate verification of transactions, whereas GMX relies on the safety provisions of Arbitrum and Avalanche.

DEXs are known for their privacy-preserving measures, which is why GMX and ApeX Pro, in true decentralized fashion, are fully non-KYC. dYdX, on the other hand, has, on a previous occasion, implemented KYC to claim rewards for a selected campaign.

Another notable factor would be the provisions for governance and community discussions — on dYdX and GMX, pages to host votes and discussions are readily available. At present, however, ApeX Pro is still working towards creating their community-dedicated space for individuals to carry out activities such as voting and putting up suggestions.

(2) Transaction Cost & Efficiency

ApeX Pro has decided to go with the orderbook interface that is found most commonly in CEXs, and like dYdX, this trading model works because it removes the barrier to entry for traditional and aspiring crypto traders to step into DeFi. It also utilizes three price types which help to prevent market manipulation. However, it would be up to a trader’s preference to see Mid-Market Price (dYdX) or Last Traded Price (ApeX Pro) for more accurate trades.

With StarkWare’s integration, it is no surprise that ApeX Pro amped up on transaction speeds to process approximately ten trades and 1,000 order placements every second at no gas fees, together with the low maker and taker fees. dYdX’s tiered fees are incredibly comprehensive and cater to different trader’s different trading sizes; without any gas fees, it is unsurprising that derivatives DEX traders have looked primarily at dYdX.

These tiered fees are also familiar to derivatives traders on CEXs. GMX, on the other hand, does charge network execution fees, which means that gas fees paid by the trader for their trade may vary according to market factors.

ApeX Pro doesn’t have tiered fees just yet but considering that it just launched in November, differential fees are likely to drop soon with an upcoming VIP program, where the staked amount of APEX will determine the discount applied to maker-taker fees.

For traders looking for choices in trading pairs, dYdX remains the DEX with the greatest number of perpetual contracts while also providing access to spot and margin trading at the same time on Layer 1 Ethereum. ApeX Pro and GMX do not offer as many perpetual contracts as dYdX. Still, with new trading pairs being introduced frequently, it’s only a matter of time before traders get access to multitudes of assets and pairs on the remaining DEXs.

What might be notable for all is ApeX Pro’s support for multi-chain deposits and withdrawals on EVM-compatible chains; this is certainly a plus point for traders who engage in dynamic trades across multiple platforms, chains and asset categories in crypto.

(3) Tokens & Rewards

Of all factors, this is probably the one that most traders are interested in — how each DEX helps to multiple rewards and earnings while ensuring that these rewards remain valuable to the individual trader over time.

With dYdX and GMX, the success and popularity of trading events to earn rewards and staking incentives are apparent. It is paramount for DEXs to enable access to revenue-sharing programs for their community members and token holders, which commonly involve the distribution of trading fees accrued over a single period. Rewards and incentives are typically distributed in the platform’s native tokens.

dYdX’s offerings are straightforward, with a Trading Rewards program that distributes 2,876,716 $DYDX to traders based on their trading volume in 28-day epochs. On top of that, users can also stake $DYDX in a pool to receive additional staking rewards. This dual-earning track remains a success amongst traders. GMX, on the other hand, has taken community rewards forward by utilizing escrowed tokens in its staking program to stabilize further and sustain the value of the reward tokens that their traders receive.

ApeX Pro follows in GMX’s footsteps by enriching its token ecosystem with escrowed and liquidity tokens, which allows for more dynamism in maximizing token value and sustaining long-term token use cases for the community than using a single token for all DEX initiatives.

With a total supply of 1,000,000,000 $APEX, 25,000,000 $APEX has been minted to create $BANA. With ApeX Pro’s year-long Trade-to-Earn event and weekly reward distributions in $BANA, traders get to swap rewards for tangible incentives in USDC, and also redeem $APEX tokens after the event ends. Traders can also add liquidity to a $BANA-USDC Pool in exchange for LP Tokens, which they can then exchange for more $BANA.

Moreover, ApeX Pro maintains the stability of $BANA’s value with a Buy & Burn Pool, ensuring that its users’ holdings of either token are maximized at any time. $190,000 worth of $BANA will be distributed weekly for a year — a quick and easy settlement that every trader can certainly appreciate.

Conclusion

Innovations in DEX architecture in the nascent DeFi industry abound as DEXs find their footing in a world dominated by CEXs. It’s good news for traders because they can choose DEXs based on the provisions that suit them most or draw their preferred benefits across various platforms. With the growth, it has seen within its first week of mainnet launch and an ecosystem that combines the best of features on existing DEXs, ApeX Pro is one to watch out for in 2023.

Ending with a quote as usual.

“Blockchain-based projects should go back to their roots – decentralization. Decentralization is here to stay and it is the future.”
– Anndy Lian

 

Source: https://cryptoslate.com/selecting-a-derivatives-dex-an-overview-comparison/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j