The core technology associated with bitcoin, cryptography, is not new but it has re-emerged with blockchain and smart contract technology, which supports tokenization. A token is a unit of value that can be transferred, stored, and traded on the blockchain and is a digital representation of potentially many different kinds of assets, such as ownership rights for cryptocurrencies as well as real-world assets like stock shares, real estate or even art. For some, the SEC’s approval of Bitcoin ETFs helped boost the legitimacy of this technology, and now we’re seeing more firms and retail investors exploring the many benefits of tokenization.
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