Telangana announces launch of Asset Tokenization Standard Framework
The telangana government said on saturday that it will introduce an Asset Tokenization Standard Framework, a procedure for representing physical assets like real estate, works of art, and stocks as wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital tokens on a blockchain. This makes trading and exchanging assets easier and more effective.
A uniform set of rules and regulations for the tokenization of assets will be made available through the Asset Tokenization Standard Framework. In addition to enabling the sector to develop and evolve, these rules will serve to safeguard investors and customers. The World Economic Forum, Sino Global Capital, C-DAC, IIIT-H, Bharat Web3 Association, indian Blockchain Forum, Open Trade, and european Crypto Initiative are just a few of the business partners who will cooperate with us to create the framework. During a roundtable discussion held here on saturday, these proposals were explored. Participants from the government, business, academia, and venture capitalists attended the meeting.
"The Asset Tokenization standard framework is a significant step forward for the development of the blockchain and Web3 ecosystem in telangana," IT Principal Secretary Jayesh Ranjan stated. "This approach will give investors and companies the much-needed certainty they require to utilize asset tokenization. Asset tokenization standards frameworks will help the average person feel included by facilitating their participation in the global economy and granting them access to new investment options. This framework will aid in fostering an atmosphere that is more favorable for the growth of asset tokenization enterprises and projects in the State, he continued.
Dilip Chenoy, head of the Bharat Web3 Association, said: "I think asset tokenization has the ability to unlock latent value worth billions, revolutionizing how we view, own, and invest in assets. The Asset Tokenization standard framework, according to rama devi Lanka, director of telangana Emerging technology, is a step towards encouraging the adoption of blockchain technology in Telangana.
Other nations had already begun to create frameworks to aid in the expansion of the Web3 sector. It was time for india to take the lead and create its own framework to safeguard consumers and investors while also enabling the sector to expand and innovate. india can position itself as a top location for Web3 enterprises and investors by creating a clear and supportive regulatory framework, she noted.
A uniform set of rules and regulations for the tokenization of assets will be made available through the Asset Tokenization Standard Framework. In addition to enabling the sector to develop and evolve, these rules will serve to safeguard investors and customers. The World Economic Forum, Sino Global Capital, C-DAC, IIIT-H, Bharat Web3 Association, indian Blockchain Forum, Open Trade, and european Crypto Initiative are just a few of the business partners who will cooperate with us to create the framework. During a roundtable discussion held here on saturday, these proposals were explored. Participants from the government, business, academia, and venture capitalists attended the meeting.
"The Asset Tokenization standard framework is a significant step forward for the development of the blockchain and Web3 ecosystem in telangana," IT Principal Secretary Jayesh Ranjan stated. "This approach will give investors and companies the much-needed certainty they require to utilize asset tokenization. Asset tokenization standards frameworks will help the average person feel included by facilitating their participation in the global economy and granting them access to new investment options. This framework will aid in fostering an atmosphere that is more favorable for the growth of asset tokenization enterprises and projects in the State, he continued.
Dilip Chenoy, head of the Bharat Web3 Association, said: "I think asset tokenization has the ability to unlock latent value worth billions, revolutionizing how we view, own, and invest in assets. The Asset Tokenization standard framework, according to rama devi Lanka, director of telangana Emerging technology, is a step towards encouraging the adoption of blockchain technology in Telangana.
Other nations had already begun to create frameworks to aid in the expansion of the Web3 sector. It was time for india to take the lead and create its own framework to safeguard consumers and investors while also enabling the sector to expand and innovate. india can position itself as a top location for Web3 enterprises and investors by creating a clear and supportive regulatory framework, she noted.