#dusk $DUSK @Dusk Someone converts a paper share certificate into a PDF stored in a database. Someone else mints a token that represents that same share on a blockchain. A third approach skips both and creates the share directly on-chain in the first place. All three get casually called digital assets. They are not the same thing, and the difference isn't cosmetic.
Digitization is moving recordkeeping from paper to digital systems the asset lifecycle and the intermediaries around it usually don't change. Tokenization goes a step further: it issues a token that represents an asset or a claim on one which can be programmable and easier to plug into apps but the underlying regulated asset often still depends on existing custody registry and settlement processes running off chain with reconciliation between the token and that underlying system remaining necessary. Native issuance is different again the asset itself is created and managed on-chain so issuance transfers servicing and settlement happen around the ledger instead of using a token as a wrapper over a separate system of record.
The practical gap shows up in settlement and custody specifically. Digitization still relies on things like CSDs and clearinghouses. Tokenization often keeps that same reliance just with a programmable layer added on top. Native issuance is the option where settlement can happen on-chain with deterministic finality, and where the workflow access controls disclosure servicing gets designed around the chain rather than bolted onto it after the fact. Dusk's positioning sits specifically in that third category access controls selective disclosure and deterministic settlement built in as protocol level requirements not features added around a wrapped token.
@Dusk $DUSK #dusk
Digitization is moving recordkeeping from paper to digital systems the asset lifecycle and the intermediaries around it usually don't change. Tokenization goes a step further: it issues a token that represents an asset or a claim on one which can be programmable and easier to plug into apps but the underlying regulated asset often still depends on existing custody registry and settlement processes running off chain with reconciliation between the token and that underlying system remaining necessary. Native issuance is different again the asset itself is created and managed on-chain so issuance transfers servicing and settlement happen around the ledger instead of using a token as a wrapper over a separate system of record.
The practical gap shows up in settlement and custody specifically. Digitization still relies on things like CSDs and clearinghouses. Tokenization often keeps that same reliance just with a programmable layer added on top. Native issuance is the option where settlement can happen on-chain with deterministic finality, and where the workflow access controls disclosure servicing gets designed around the chain rather than bolted onto it after the fact. Dusk's positioning sits specifically in that third category access controls selective disclosure and deterministic settlement built in as protocol level requirements not features added around a wrapped token.
@Dusk $DUSK #dusk