Forensic analysis can benefit from tokenization: World Token Summit panel
At the recent World Token Summit 2023 event held in Dubai, a panel discussed how the adoption of tokenization can be scaled further through various tools like address tracking and forensics analysis.
At the event, Cointelegraph spoke with Jeremy Firster, the global head of partnerships at Cardano Foundation, Meng Chan Shu, the head of business development at the Ras Al Khaimah Digital Assets Oasis (RAK DAO); and Ellis Wang, who works with the executive and advisory team at The Private Office of Sheikh Saeed bin Ahmed Al Maktoum.
The group explored various topics relating to tokenization. These included the benefits brought about by the digitalization of assets and the challenges that organizations may face in navigating the realm of tokenization.
Kicking off the panel, Firster highlighted that tokenization’s benefits are found in utility creation. According to the executive, tokenization brings value by providing a tool for access, fund distribution and fragmentation of assets. He explained that:
Contributing to the topic, Wang, who also previously worked in the banking sector, highlighted that some of the main benefits of tokenization are transparency and security, which are inherent features of blockchains. By putting records within the blockchain, the executive believes that tokenizing real-world assets naturally gives them various advantages like the flexibility brought about by smart contracts.
Related: Digitalization won’t displace commercial bank money any time soon: Moody’s
After talking about its benefits, the executive also recognized that there are challenges for organizations navigating the wave of tokenization. According to Wang, the large number of emerging technologies can sometimes make it very
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