The Klaytn Foundation has recently launched an ambitious plan to leverage blockchain technology in order to create a positive social impact. The foundation aims to support a new wave of blockchain projects operating on the Klaytn blockchain, which will facilitate greater financial accessibility and inclusion across Asia and the rest of the world.
Klaytn Foundation has outlined its ambitious plan to position Klaytn as the foundational layer for the future on-chain world by implementing core societal infrastructure in its 2023 roadmap. The foundation has recently provided more details about this vision, including the specific use cases essential to achieve this goal. The foundation’s first step towards this objective is RWA tokenization.
The Klaytn Foundation has enlisted the help of several partners to launch its RWA (Real World Assets) program, which aims to bring real-world assets to the blockchain. The partners include CREDER, a financial platform focused on digital assets backed by physical gold; Tokeny Solutions, which helps businesses issue RWAs while maintaining full compliance; and Elysia, a platform that simplifies trading of tokenized real estate.
The Klaytn blockchain’s architecture makes it an ideal platform for hosting tokenized assets, such as precious metals, artwork, and real estate. The blockchain has one of the lowest transaction latencies amongst EVM L1s and network fees 2,500 times lower than Ethereum’s. By automating ownership management, fractionalizing high-value assets, and recording transaction history on the blockchain, Klaytn can significantly improve transparency, accessibility, and security.
The Klaytn Foundation is developing solutions for token issuance, asset storage, and trading to support its RWA tokenization initiative. It is creating a new token standard for RWAs to ensure compliance requirements are met. The Foundation aims to expand the range of RWAs it supports by providing the necessary infrastructure.