The BSV blockchain is a powerful technology that has an endless potential due to its stable, scalable and secure nature that makes it more than just a digital ledger. One of its accomplishments is providing a solution in digitizing real-world assets while maintaining its original characteristics, rights and benefits. This process of converting real-world assets into a digital token is called tokenization.
Digital asset marketplace Fabriik is leading the way in multi-asset tokenization with its goal of opening “access to a marketplace where anyone can transform, hold, trade, and grow any asset” in order to create a digital future where everyone has equal financial opportunity—not just the privileged few who has the money and technological know-how to do so.
“We said that with Fabriik, we can take this technology and the work that we have done and create a larger ecosystem, and that larger ecosystem will allow us to really deliver and change a lot of people’s lives. We came up with the term ‘re-imagine prosperity,’ we use that as a tenet for turning around and saying, how do we create a financial services ecosystem that allows, not just somebody whose high-net-worth, or ultra-high net worth, or an institution, but somebody who’s sitting in a village in Africa or somewhere in North America or the UK, and EU who makes maybe only a few dollars or a few hundred dollars a week or a month, how do we take one of those people and help them,” Roy Bernhard, CEO and Chief Visionary of Fabriik, said during a guest feature at Coinscrum’s “Meet The Founders” series.
Acquisition of Money Button
A step towards this goal is Fabriik’s acquisition of BSV advanced wallet Money Button. With features that allow for users to have access to multiple outputs, blockchain data, smart contracts, currency conversion, and a REST API and an OAuth API on top of the simplest and fastest payment system, Money Button provides Fabriik leverage in being able to provide consumers and business developers with a wide range of functionality. And because everything is done on the BSV blockchain that has the capability to offer micropayments, transaction fees are the cheapest in the market.
After the acquisition, Money Button has released its newest feature tokenization API called Fabriik Simple Protocol for Tokens (SFP) that allows users to create their own tokens, as well as send and receive them. Digital assets are assigned a Paymail, which is an identity protocol pioneered by Money Button that allows for long and hard-to-remember hash addresses to have the format of an email address like [email protected]
“I really think that, and I mentioned it before, it really comes down to this notion of tokenized real-world assets and tokenized securities. The ability for the industry to move to a place where almost every asset on the planet is associated or linked to digital circuitry, or a digital token or component. Because as soon as you do that, the fungibility, the transferability, the movement of all of those assets becomes completely seamless and you can do some pretty amazing things,” Bernhard explained.
Making it convenient to tokenize real-world assets, such as real estate and valuable collectible items, is one of the steps crucial in breaking down the barriers of digitizing these assets and creating a boundless digital asset space, much like how modern communications have made distance insignificant.