The evolution of technology is growing rapidly as the paradigm shift of interoperability between Web2 and Web3 technology is moving exceedingly closer. With this shift comes access to services that change the way we currently think of financial inclusion, because web3 enables citizens to interface with the world of finance, no longer constrained by borders, meet Sologenic.
An ecosystem built on top of the decentralized ledger of XRP, Sologenic aims to tokenize traditional financial instruments of investment such as stocks, commodities, fiat, derivatives, ETFs and so much more. With on demand tokenization running 24/7, users no longer have need for central intermediaries to handle transactional throughput. By simply having backend payments automated and recorded on the open source blockchain of XRPL, users will be able to experience the finality of transactions with ease and in seconds. And by removing the wasteful spending of third party intermediaries, transactional throughput will become a mere fraction of the cost.
Traditionally, if investors wanted to trade one stock for another, the end user would need to position out of their asset and into fiat, in order to reinvest from one asset to another. With the proposal of XLS30 on the horizon for XRPL, the ability the generate deep pools of liquidity consisting of tokenized assets is a technological advance, in which Sologenic can utilize to enhance user experience. Users will now be able to swap their shares of assets from one to the other, without having to transact with fiat. Users can also decide, if they wish, to play a role within these pools, by locking up their shares of assets, and in return generating a percentage of transactional cost within swaps called Proof of Stake. This gives users the ability to participate in the new regenerative future of finance, typically afforded only to institutions and private entities.
It is imperative we learn from mistakes of the past as investors should no longer rely on public figure heads and entities in deciding whether or not an exchange is safe and reliable. Rather, trust should be gained through transparency. With this in mind, comes Sologenic’s proof of solvency, in which users have the ability to audit any tokenized asset offered by Sologenic at any time. This gives the end user comfort in knowing that the asset in which they hold remains liquid and interchangeable between other assets as well as fiat. It is also imperative that users not simply trust their assets with third party entities. With built in web3 wallets, users can now hold their owned assets with their own private keys.
The future of tokenization is bright, but even more so the future of decentralization. The power of finance should not be held in the palms of governments and institutions but instead the power of finance should be held in the hands of the end user, with the goal of rolling out marketplaces in which all people can participate in. Personally, I feel excited for the long term general outlook of Web3, but also extremely excited for the tools being built by the Sologenic team; because I believe these can be the tools used to help lift all societies, and help bring financial sovereignty back to the individual.
With great things come small beginnings, and Sologenic is just getting started.
About Author- Just an everyday Joe named Mario, that you may see walking around your local farmers market. But with a great propensity and desire to understand concepts and tools typically ignored or taken for granted by others. My desire is to see humanity thrive in this new era we see ourselves entering in to. In order to do so, I believe it is up to all of us as individuals to bring our talents to the fold, and collectively create something better. All glory to God!
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