A word we expect to see more in 2025: permissioned.
We've already seen reports by major consulting firms and forums such as EY and the GFMA cite permissioned blockchains as the blockchains of choice for regulators and large institutions.
From our own discussions in the industry and with political players, we know the benefits of permissioned infrastructure are what's on many regulators' minds.
We predict permissioned blockchains like Polymesh to play a central role in the tokenization of #RWA in coming years. Here's why.
1⃣ Regulatory requirements: Permissioned blockchains enable compliance with Basel guidelines, jurisdiction-specific regulations as well as future changes.
2⃣ Onchain governance: A permissioned architecture enforces decision-making processes and rule changes that are transparent, equitable, and aligned with stakeholder interests.
3⃣ Control mechanisms: Permissioned blockchains provide granular access controls and role-based permissions, allowing only authorized participants to transact or validate for greater security and trust.
Permissioned infrastructure enables financial market participants to maintain controlled access, adhere to regulatory requirements, and foster trust when dealing with issuers and investors.
📰 We're thrilled to announce a strategic collaboration with @BitwavePlatform! 🌟🌊
Supported by the Polymesh Ecosystem Development Fund, Bitwave is developing a native integration with Polymesh that will further elevate financial compliance, reporting, and operational efficiencies for projects on the Polymesh network.
This integration empowers financial institutions with streamlined financial workflows, enabling them to uplift their accounting and financial operations through essential enterprise-grade solutions for regulated assets.
These new efficiencies in financial compliance and reporting will help businesses in regulated ecosystems––such as those involved in the tokenization of #RWA––to automate and optimize their accounting processes while meeting the highest standards of financial reporting, such as the US GAAP and IFRS.
Specifically, this integration will bring granular cost-basis tracking, pricing analysis, and automated transaction categorization to Polymesh, enabling projects on the public permissioned network to leverage best-in-class tools for financial compliance.
Read more about the benefits of this integration for the Polymesh ecosystem in our blog post!
Josh Savage, the highest-grossing independent UK Music NFT artist, is dropping his Music NFT through TokenTraxx on Polymesh!
https://t.co/ID7du1ggUG
In an exclusive interview with Polymesh 👆🏽, Josh revealed how tokenization on Polymesh is a route to survival:
"The traditional route in music is broken. It's not sustainable for us artists. We used to be able to rely on selling our music as CDs and MP3s and now we get very little income. We spend thousands of dollars to just create, and also hours. Even touring is not sustainable anymore because energy prices are so high now."
Record deals often require artists to sign away as high a 85% of future income from their songs. For Josh, a better way of producing music has been through Music NFTs, which offer a way to sell music free from predatory intermediaries and empower artists to rely on third parties they want rather than need.
Tokenizing his music on the blockchain offered Josh an alternate route to monetization, enabling him to make more music–although the best part for him was seeing his fans gain from it.
Josh's story goes to show the power of blockchain for the creative arts and performing space. Watch the interview to hear what Josh's NFT on Polymesh entails for token holders and the industry more widely!
ICYMI, our last AMA was one of the most interesting Polymesh AMAs yet! 🙌🏽
https://www.youtube.com/watch?v=STDRQG_J5lE
Watch now and hear straight from Polymesh about Polymesh, Polymesh Private, the tokenization industry, the recent partnership with digital asset custodian BDACS 🇰🇷, and more.