Digital assets

Individuals can possess and transfer digital assets, which can be used as a kind of cash in transactions or as a storage medium for intangible information such as computerized artworks, video, or contract papers. Digital assets include cryptocurrencies like Bitcoin, asset-backed stable coins like Tether, and non-fungible tokens, which are certificates of ownership of original digital media.

The ownership of digital assets is recorded securely on a blockchain, a sort of decentralized database or electronic ledger that is distributed among its users. This framework allows digital assets to be transferred without the use of a middleman, such as a bank, broker, or intermediary. This can make transactions go more quickly and accurately. About the blockchain technology you can read more in our previous posts.

What are some of the advantages of owning digital assets? Paper-based or physical assets might take longer to issue than digital assets. Their all-electronic nature can help speed up the transaction process while lowering administrative and storage costs. That is the reason, why some central and commercial banks do try to consider digital assets and blockchain technology worth of implementing on daily basis. For instance, The World Bank has previously used blockchain technology to sell and manage bonds, and the European Investment Bank has recently obtained €100 million via a two-year bond that was registered on the Ethereum blockchain network. Have we interested you? Than follow us and get more information about up-to-date technologies and other valuable info!