Summary
- Changpeng Zhao, founder of Binance, said he is discussing asset tokenization with the governments of about 12 countries.
- CoinDesk reported that through tokenization, countries can raise funds by offering part of their state-owned assets to citizens or investors.
- Zhao said that in this way, governments can realize fiscal gains first and then use the funds to support industrial development.
Changpeng Zhao (CZ), founder of Binance, is said to be holding talks on asset tokenization with around 12 countries.
According to CoinDesk on the 22nd (local time), Zhao, who attended the World Economic Forum (WEF) in Davos, Switzerland, said, "Probably with governments of 12 countries, we are discussing asset tokenization." He did not specify any particular countries or assets.
Tokenization is a technology that converts real-world assets such as real estate and infrastructure into blockchain-based tokens that can be fractionalized and traded. CoinDesk reported, "Countries can (through tokenization) raise funds by offering part of state-owned assets to citizens or investors, much as they would by selling stakes in state-owned oil or telecom companies."
Zhao said, "In this way, governments can realize fiscal gains first and then use those funds to develop specific industries."
Zhao has said he is in discussions on blockchain-related matters with Pakistan, Malaysia and Kyrgyzstan, among others. Earlier, Kyrgyzstan introduced a dollar stablecoin backed by its national currency, the som, in the second half of last year.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
