On Tuesday 9th April 2024, Special Tiamonds Twitter Space was conducted on the topic, “Let’s Tokenize the World.” The esteemed speakers were Steven Gaertner (Head of Tiamonds), Julian Kwan (CEO of IX Swap), Bruno Winik (COO at eNOR Securities), Tashish Rai Singhani (CEO of Unicus One), and Daniel Han (Partner at eNOR Finance and eGRAINS).
Steven Gaertner, Speaker
Hey, everybody. Happy Tuesday. Welcome to the Tiamonds Twitter spaces today. We have some great guests today, so we’ll introduce them very soon. Today’s topic is Let’s tokenize the world. A very hot topic nowadays in the RWA space, and in the crypto space in general. So again, welcome everyone to the Tiamonds Twitter space. We hope you enjoy this 1 hour of great inspiration about tokenization, about real-world assets. Again, we have some great guests. So first of all, let me introduce myself. I’m Steven, running Tiamonds. First, a few words about tiamonds. So, Tiamonds is a Web3 marketplace that is transforming the way that real-world diamonds are owned, traded, and valued in general. So basically, we’re using blockchain technology to create those tokenized assets that represent ownership of real-world diamonds.
What’s super important for us is to bring diamonds, but real-world assets of diamonds that are non-conflict diamonds. I’ll develop later in the talk a bit about that. What is important to know is that every tokenized asset on the platform is fully asset-backed.
One of one by certified natural diamonds. Those are certified by the GIA. They are securely stored in a vault in Liechtenstein. By the way, the project is fully licensed. The diamonds are insured by Lloyds of London. They are authenticated and validated by LCX, the Liechtenstein crypto exchange. And again, diamonds are ensuring authenticity, the provenance of the diamonds, and the safety and security on the blockchain for all those valuable assets. Let’s get to our host today. So who’s joining me as a co-host is Sumit today. So sumit, I’ll give you the word to introduce you briefly.
Sumit Sagar, Host
Hi guys. I’m Sumit, currently head of marketing at LCX, managing the LCX and Tiamonds.
And just wanted to share two facts. One is tokenization will be going $5.6 billion by 2026. So it’s that big. And as our founder Monty Metzger says, “we are not only building a company, but building a new financial ecosystem”. So that’s what we do at LCX. That’s what we are trying to do with Tiamonds and that’s what we are trying to do with different products. Also, this is my short intro about LCX and Tiamonds.
Steven Gaertner, Speaker
Today we have four different guests from three or four different companies. I’ll ask them to introduce themselves briefly and introduce also the project they are working on. So let’s start with Tashish.
Tashish, are you here? Can you hear us? Yes.
Tashish Rai Singhani, Speaker
Yes, I can hear you very well. Am I audible perfectly? Yes. Amazing. Amazing. Thank you. Thank you, Tiamonds team, for having us here as a speaker. And it’s a pleasure to talk about this revolutionary technology. I’ve been the part of blockchain space for about eight plus years now and am completely into providing services and consultancy, building products in this space, and talking about asset tokenization. It’s been almost three years I’ve been focused on this in this space. And our project Unicus One, we started with a small NFT marketplace only focused on digital assets, but now we are expanding our horizons and we are building our own protocol, a modular blockchain wherein we tokenize multiple assets globally, starting from real estate to mines to agro farming, and then a lot more. That’s a pretty interesting space and we are having some good traction and people are loving it.
And it’s too early to say, but yes, the numbers that Sumit mentioned, I think we’ll achieve them very fast. And everybody’s seeing ETF’s going fast and a lot of projects coming along. There’s been a lot of institutional interest as well. So I think we are at the right place at the right time. So, yeah, that’s about me.
Steven Gaertner, Speaker
Thanks, Tashish. Sounds super exciting. We’ll learn a bit more about your project and how every project, you know, in the web3, we always say we are collaborating each and with each with each other on every project. So other. Let’s hope we can find some nice synergies between all the projects here.
So our next guest, Julian. So, Julian, great to have you with us today. So please introduce yourself and your project as well.
Julian Kwan, Speaker
Yeah, thank you for having us. Hi, everybody. Thanks for taking time out of your day.
My name is Julian Kwan. I’m co founder and CEO of IX Swap. We built the first real world asset, Dex, which allows secondary trading for any RWA asset. So most RWA are actually securities. They require licenses. We were the first builders of RWA in Asia. We’ve been doing this since 2018, but the purpose of the platform was that we believe in a world of tokenized everything. Real estate, startups, venture capital, private equity.
There’ll be a lot more RWA than there will be cryptocurrency. At the end of the day, the value of that would be much bigger as well. We can see that already with the private markets being 8 to $10 trillion. So our position was, how do we leverage blockchain technology to build a system that allows all investors. So most RWA platforms are not licensed and most of them don’t allow retail investors to invest. But we wanted to build a platform that allows all investors to invest a minimum of $1 in all kinds of reward assets, from equity to real estate, and then create a secondary trading venue. So there’s been no liquidity in the real-world asset industry because traditional market makers from Wall Street aren’t here, and crypto market makers don’t have licenses to market make securities, which most real world assets are.
But in brief, we’re super excited to be here. Great to see all these other platforms and happy to share more about how we can help people become better investors in the space.
Steven Gaertner, Speaker
Fantastic. Thanks. Thanks for that intro. By the way, what you said, I totally agree. I think we are kind of with the real world asset tokenization, like democratizing the access to real world assets, something that was not possible before. And let’s say it’s just a click away nowadays with all those fantastic platforms that are starting to be built. You started earlier in 2018, you said, but we’re really looking forward to much more adoption thanks to the real world asset into the crypto space. And I think this is our time, this is our year. A lot of talks about real world assets lately. So our next guest is Daniel from eNor finance and securities. Please go ahead and introduce yourself and your project. Please.
Daniel Han, Speaker
Hey, guys, how are you? Here is Daniel from eNor Securities. I am the CEO of eNor. Thank you for the invitation to this space. You speaking today in, or for those who didn’t know us already, it’s also compliant company, fully regulated, fully licensed, and to distribute, issue and tokenize assets and distribute as security tokens. For now, we are having the whole suite for tokenizing, especially focusing on real world assets as we have a great partnership with eGrains. And we already have our first emission, that it was eSoy token, that it’s fully collateralized by real world soy. And that’s a huge opportunity on this agro commodities landscape here. And we are very excited to be distributing these assets around the blockchain and give it this opportunity to have this huge sector that we have as the agro business inside the blockchain landscape.
Sumit Sagar, Host
Okay, thank you. Thank you for the short introduction from everyone. I guess Bruno will join in some time, then we will go ahead with him now. Steven, I have one question for you. Explain how Tiamonds is making accessible investment in luxury assets. And I would say add some light on how we are doing it in a compliant way also.
Steven Gaertner, Speaker
Yeah, okay. Absolutely. So, regarding Tiamonds, I think there’s something that I really like about the project is the fact that we are bringing those real-world assets, diamonds, to the blockchain. Something that needed to be done for the diamond industry. I didn’t say it during my introduction, but I used to work for over ten years into the diamond industry. An industry that is, let’s say, a bit old-fashioned. An industry that didn’t evolve enough with its time. Didn’t took the new technology on his side, or didn’t use a lot of social media. And I think, of course, they didn’t use the blockchain. And it is something that really can add value to that, to that industry in a way that, first of all, like we said it, and I think Julian also mentioned something about democratizing or, or giving access to more people, to luxury, not to assets in general.
We are doing it to luxury assets and I think it’s a click away. The fact that the assets are available 24 hours a day, seven work days or seven days a week, is a game changer for every industry. You know, when you wanted to purchase a diamond or jewelry or ring or watch, you wouldn’t need to wait until the weekend is over, that the shop is open. Then go to the shop between nine and five, because they close at nine and they don’t let you in earlier.
So I think the accessibility to those assets, first of all, is fantastic.
You can be in your living room and purchase easily an asset on our platform. Also, what’s a super important, two important topics that we are adding, and thanks to the blockchain as well, is the traceability of the assets. So we can prove, and we know where the assets are coming from, from which mine and from that. Those origins are non conflict zones. It is super important for our users today, and I think the Gen Z in general, to understand that their assets, and not only luxury, it’s also true for garments
and it’s also true for tech pieces.
And whatever business you in, you want to know where it has been assembled, where it has been manufactured, where it has been taken from the ground or from the mine. And so this is what we can add as a value to that industry. We are adding the provenance and ensuring our users that the provenance is 100% legit and is 100% non-conflictual. And then another thing that we are adding as well is the transparency on pricing. And I think the diamond industry in general has been really not transparent. Has never been.
Just imagine you would need to buy or to purchase a diamond tomorrow. One guy will ask you that price, the other guy will ask you another price with 20% difference, maybe in the pricing, and there’s no real reason. What we are bringing to the table here is to have a marketplace where things are exchanged On our marketplace, you can see what the previous buyer has paid, what the next buyer will pay. And by the way, we are also adding royalties, something that is non existent in the traditional diamond industry.
Basically, I would say I can talk for hours, but basically, let’s wrap it here for about that. And let’s continue maybe later on times as well. So that’s it. Sumit for me.
Sumit Sagar, Host
Tashish, I’ve seen that you are working in the space of real estate tokenization. What is the process of that? Can you explain this to our user in a little bit simplified way? How you do it from the legal side? And in fact, I would say it starts from how this idea came to you.
Tashish Rai Singhani, Speaker
Okay, so it’s, so I will give you a brief about myself as well. So I’ve also been in the real estate industry for not ten years like Steven, but yeah, four or five years. So I had pretty, pretty much a good understanding about this domain and I understood the value of tokenization there. So, like the basic advantages that that’s, I mean, known to everybody now that there are borderless transaction, anybody sitting in Australia can buy a property in Korea and so on and so forth. I mean, I’m sitting here in India, I can buy properties in the US.
So that’s, that’s something which is more of a theoretical kind of approach. But practically, it’s not a very easy domain. So, real estate is not just the one thing that we do. So we do tokenization in multiple domains. For real estate. There is a basic approach of having a SPV created. SPV is a special purpose vehicle for those who don’t know. And this vehicle is nothing but a company which is registered in an offshore country which is favorable for the crypto domain. And that SPV owns the property, the ownership of that property that we are tokenizing, is transferred to the SPV, and that SPV itself is tokenized. Like security, tokens are issued against the ownership of that SPV.
So any property that is owned by that SPV is indirectly owned by the token holders of that SPV. And those are the fractions of the property. Any rental income that is yielded from the property is distributed among the token holders, the security token holders. And if the property is sold, and if there is any profit or appreciation over that, over the course they, of course they earn it. So see, like some precious metals like diamond, real estate has also been a very trusted asset class, thanks to the big agencies and institutions that have created in the past, but that was not very transparent in earlier days.
But blockchain coming in, and again, I’ll add something. So it’s not a completely tech play. I think technology just plays 25% to 30% of the role. Rest is more of a business understanding, more of generating sales through awareness and education. I mean, people with heaps of money who would want to invest, but they’re all afraid of getting into crypto, that this might be something fishy, it might be a scam, but the real world asset tokenization at least have created and established a situation where there’s a real asset which is backing, which are backing these tokens. So that has. But it’ll take some time, it’ll take time for people to get educated, aware, and once they have complete information, I think it’ll blow away everything else. And like my other colleagues also said that, yeah, this will take a bit of time, and it’s a bit too early to talk about these numbers, but the entire world has to be tokenized.
So, coming back to real estate, there have been a multiple use cases that people have bought up, and I’ve consulted many projects in tokenization, a couple of them in real estate as well. So time sharing is a very prevalent concept in real estate. You pick up a property, you buy ten days of that property across the year for say, your whole life. It’s defined. Maybe some define it by 90 years, some defined by 50 years, whatever the tenure is. So for the next 50 years, you will be eligible to use that property for ten days, five days, 20 days a year, whatever the days are decided. And this has been going on, I mean, in the traditional manner as well. But tokenizing an asset and then using timeshare as a concept has made things very transparent, very widespread. So this is just one example. So once the assets start getting tokenized, there would be multiple options, and those options would be all transparent, which will definitely get more users, not only just institutional, but retail investors and users as well. But, yeah, that’s pretty much fantastic. Very exciting.
Sumit Sagar, Host
Thanks, Tashish, for that explanation. And I agree also, the game changer today is that we have real assets. Like the asset is backed by a real asset, that it’s not like the NFT craze that we had in 2021 or 2022, where you were purchasing, like an NFT, which was a JPEG with an ape. But nothing behind that. It was backed by nothing. And I think the big game changer nowadays is the fact that we have real world assets at a certain point to cover that and to guarantee that. Okay, great. So let’s go to Julian.
So I have a question for you. First of all, I think it was great to hear about IX Swap. I have a few more questions about that. So, first of all, when was it founded? And can you give us, like, a quick overview of the different products that you are currently offering on the platform? I think your real contribution to that digital finance space. So let’s hear you.
Julian Kwan, Speaker
Yeah, we started, we started our first platform, Investex, in 2015, and went full tilt into real world assets, which used to be called security tokens and STOs. Back in 2018 and many years, people said, I’ll use the term RWA today not to confuse everyone. People say, oh, what’s the point of doing this? Liquidity for liquid assets. But there was no liquidity. So what we did in 2021 with my co founders and Aaron and Alice, some other people we looked at. So if you take a snapshot for a second and you say to yourself, I believe everything’s going to be tokenized. Right? We do. I do. You do? I’m sure most of the listeners do. Okay, that’s going to be a hell of a lot of assets, right? And now, if you take a little journey back in history, and if you go look at the cryptocurrency market in 2017, there was a situation, and I simplify this, these numbers aren’t correct, but just to make the example, the top ten cryptocurrencies, they traded on Coinbase and Binance, and. And the other 10,000 altcoins weren’t welcome there. They weren’t big enough. They didn’t have enough money, there wasn’t price discovery, no one cared about them, etc. So what did they do?
They listed on the DEXs, right, the decentralized exchanges. However, back in 2017, circa, don’t quote me on the exact time, there was no liquidity for altcoins, right? When you went to a DEX, it just said sell token, a whatever, one ethereum. And so the problem was that no liquidity for cryptocurrency in decentralized exchanges. The only liquidity they had was in centralized exchanges. That is why binance and Coinbase grew to become some of the biggest companies in the space. Everyone, regardless of their love for decentralization, wanted liquidity. So they went and bought and sold cryptocurrency on centralized exchanges.
But the problem for 10,000 altcoins was they weren’t welcome where they weren’t big enough, they didn’t have enough money, they didn’t have market makers, they didn’t have all these things. So along came uniswap. Isn’t the first, but I’ll use it as an example, because it’s the biggest. Along came uniswap and said, we got an idea. What if we use smart contracts and blockchains, and we allow anyone to turn up with two cryptocurrencies and actually start the liquidity pool themselves? And anyone who has those tokens can join liquidity pool, and if they put their tokens into the pool, they can be sharing the market making fees.
And this is basically crowdsourced market making. And so what happened was the 10,000 altcoins that had zero liquidity, they all started creating their first liquidity pools. And then that meant that all the bread, they breathe life into the liquidity, they had a system for it. And then now, bang, zero to hero, trillions of dollars of trading later, you build a system that allowed the people who own and started the crypto project to start
their own liquidity with no one else. They don’t need market makers, they don’t need millions of dollars, they don’t need to kiss ass to an exchange. They want a low cost, fast way of doing it.
So we looked at that Uniswap and the AMM, the automated market maker model, which is crowdsourced market making, which is all of the market making solutions behind decentralized exchanges for those that aren’t aware. And we said to ourselves, there’s going to be ten times or 100 or 10,000 times more RWA than crypto. We need to build.
The industry needs a solution like that. We need to build the Uniswap for real world assets. The difference will be, we’re going to have to get securities licenses and custody licenses, because Uniswap is not allowed to create pools for real world asset securities.
It’s not allowed to do it.
They don’t have any licenses. So that’s what I was. That was, I went into quite a bit of detail, but it’s important, I think, for people to understand, like, most people don’t really understand what DEXs are. I mean, yeah, you trade there, and it’s decentralized, but where’s the liquidity coming from? It’s coming from everyone here on the channel. So we build IX Swap to solve the biggest problem in RWA, which is there was no liquidity solutions. But if you have an RWA, you can come to the platform and you can start a liquidity pool fast, cheap, low cost, and everyone can invest because we’ve got securities license that allow all investors.
So that’s the whole kind of mission the team’s been on for many years already. On a product perspective, we think quite differently. So we see the world, we see the RWA industry in two parts. We see traditional assets like tokenized treasuries, tokenized money market funds, stuff that Blackrock’s doing, stuff that Franklin Templeton’s doing, even stuff that maple finance is doing and ondo finance is doing. But that’s very valuable to the ecosystem. But we don’t believe that has much value to our community.
And I mean the IX Swap community. And that also means most of the Degen crypto time community. Why?
Because they don’t care about those assets. They’re not allowed to invest in those assets. Therefore, rich people who can pass a certain test of how much money they have. But again, it’s very valuable for the RWA industry to have payment rails, to have income producing yield producing assets, to have the same kind of assets that drive and underpin Wall street. So they’re very valuable, but they’re not very interesting to myself or any of the crew in our community. So I’m answering your question about
what products do we have? And then I’ll be quiet, give everyone else a chance to talk.
So we spend our days trying to use the technology to create new investment products that everyone can invest in that don’t exist before. What’s one example? We have a product on the platform today. It’s called CKGP, Coach K gaming portfolio. It’s essentially a tokenized fund, but the diff. And it’s managed by Coach K, who’s, who’s a crypto trader for over ten years. So he’s in brackets the manager of this investment.
But what it means is everyone on this phone call can log on to iron score, can log on to IX Swap, and with a photo id and one USDT, that’s the minimum investment. You can buy one RWA in this fund. I’m going to use the word fund because that’s easier for understand. And then coach K is going to go out, he’s going to go invest in all these gaming tokens, liquid tokens, private sales, etcetera. And you can buy and sell the token on ix swap. And the day after funding finishes, which is this Friday, there’ll be a liquidity pool created. So essentially what we’ve done is we’ve taken a VC fund, which takes months to set up, typically $100,000 or more. You invest, you wait ten to 20 years to get out.
We’ve taken that whole process into seven days, and as soon as the funding is finished, there’s liquidity poured on. I swap for secondary trading, even though it’s real world asset. So they’re the kind of products that we bring to market. They’re the products we think appeal and are interesting to the crypto community. And when I say crypto community, I don’t mean crypto hedge funds, I mean everyone on this chat, people who
have got one ethereum, and that’s their whole portfolio, and we’re building for everyone, but we’re bringing the same quality of investments that all the rich people get, but we’re using the technology to make everyone be able to get it for a dollar. And immediate liquidity after fundraising, which never ever been possible for. Thank you.
Sumit Sagar, Host
Fantastic. I think it’s super interesting what you guys are doing. I also agree that there are two directions now. Like the financial products that are tokenized in that RWA space, and then the more, like you said, things that were not accessible for everybody. And you’re right.
Julian Kwan, Speaker
And, sorry, just one last thing on that point. You’re right. I should have said financial products, like financial instruments, that’s the other side, which is the tokenized treasuries, the tokenized money market funds, they might sort of also, and again, we love the fact that Blackrock’s turned up. It’s lit up the market in some places, and it’s great. But just for the actual, the everyday investor, you’re not allowed to buy that
unless you’re a blackrock customer. And so, you know, you need to be. This is a new technology marrying a whole new market, an existing marketplace, which is sort of private markets and all there are public markets as well.
But I think that the key for people listening who want to get into the space is to find the platforms that welcome you, where you can actually buy this. Because most of the Degen crypto community are pumping RWA tokens. They’re actually pumping RWA utility tokens. They’re pumping the platform token, like BNB is to binance, uni is to uniswap. Ondo and Maple are platform tokens. They’re not actually real world asset tokens, they’re utility tokens. The real world asset tokens are sitting behind the registration process, and that’s equity and debt. And in most of those platforms that I just mentioned, that’s just for accredited and sophisticated investors. It’s not for everyone else, which again, it serves a good purpose, but it’s not for everyone. So people who want to start getting into the space, building their knowledge, building their skills, building their portfolio, they need to find platforms that allow everyone to invest, and that’s what hopefully we bring to market. Sorry. Thank you.
Steven Gaertner, Speaker
No, absolutely. I think good add on Julian here also, when you said that it’s kind of attracting people to invest in things that they were not able to invest earlier, and I think the same, it means when we are looking for the future and we are looking in, let’s say, next year and the coming years, for example, there will be fractionalized investments. And this is something we are looking quite heavily at. Diamonds. Just imagine to be able today to invest in a pink diamond, a pink diamond that would have a much bigger value because of its rarity.
Don’t forget, for example, pink diamonds that are coming from the Argyll mine, that is in Australia, by the way, that closed like two or three years ago. Prices are becoming crazy around those pink diamonds. So just imagine investing partially into those kind of assets. First of all, is democratizing the access to high valued assets to everyone. And I think it’s a way of giving the opportunity for people to invest with crypto into real world assets. And it’s a great way to attract more people to our space.
Next one is Daniel. So Daniel, I have a question for you. First of all, what inspired you
to join the tokenization space? How did you think about the concept of what you’re doing today? And then eSoy is a very interesting concept, I think. So can you share more details about that?
Daniel Han, Speaker
Sure. Thanks. I think I’m going to explain a history about where the thing started, but it started with Rodrigo, our CEO, when he is crypto native since 2013. So on the. He was on the very backside of the whole history of the past. So he faced a lot of problems with the traditional institutionals, traditional banks, when, because he has not only the crypto, he invests on it and try to spread the world around the world, but on the past it was very bad. You know, so many banks, many institutions didn’t even want to talk with him to do business with him because he also has a private equity institution and he faced a lot of problems with that and a lot of people didn’t even try to have business with him, even if it was a very good and huge business.
And as the time evolved and he started to see more and more and more guys entering the landscape and right now, even the black rock and this huge market we are seeing right now, he just said that’s the right time to enter and start what I’m trying to do from the whole time, because on the pass he was getting blocked all the time. All the guys were just like shutting their agendas and I don’t want to talk with you. So on the past he was facing these problems and then he needs to let’s stop for a moment here and let the market involve more. So we have this huge market right now, this huge regulations around some countries, just like El Salvador.
He’s giving a huge support for us and that he see that the right time to start this tokenization around the real world assets because it’s where the money is. You know, we have this, the crypto landscape who have trillion dollars, but we have the real world asset who have dozens and tons of much more money then the crypto landscape. And we are facing this right now, you know, and all about the soy question is, so it’s a fully collateralized back by real soybeans production and one token is equal to one bushel of soy. So investors are, will be able to have the, the settlement on the financial settlement and even the physical settlement if they want to have the real soy with him to buy it, purchase it.
And eSoy give this opportunity to each investor to buy a fraction of soy. As Julian said, this giving the opportunity not only for the richest guys to invest in this business, these areas, but all the communities, all the investors to have this opportunity to invest on some assets that they wasn’t able to do it because it has like a minimum or even come to this investment. So ISO give this opportunity and also for not only huge investors, traders, and also for those who want to buy a fraction of soybean investments and
hold it for life, you know, and for us is not only just real world asset. But we can spread it around the DeFi market, for example, because we have real world asset collateralizing it. And if we want, for example, put as collateral for loan inside the crypto space, we can do it, you know, so it will help to spread this credibility around the crypto also. And that’s why we are very seeing this as a huge opportunity not only for the landscape of the rural asset, but for the whole crypto industry. You know, I think that’s it. I don’t know if I answer all the questions you had, but thank you.
Sumit Sagar, Host
Yeah, yeah. You touched most on most of the topics, I would say. And while going through your website, I saw that you are working in the bond space, equity debt, real estate, commodities. That’s a lot. And that itself, I would say, I feel that it will need a separate 1 hour Twitter space for that. Okay. And for the users also, I would say, say we
are also in the tokenized bond space with one of our product called LCX earn, where we are tokenizing four assets currently, BTC, Ethereum and LCX and Euro, which you can, you, you can get benefit. And we are doing that since last one year and people are getting benefit of that since last 18 months or so, I would say.
Okay, Steven, next question to you. I would say, please explain how we are following the regulated body and how we are different from those you mentioned, crypto punks and jpegs, how we are different from that and how we are ensuring that users assets are backed with some real world assets. Can you simplify this for new users, new retail users?
Steven Gaertner, Speaker
Yeah, absolutely. I think the vision at Tiamonds was first to have a very strong legal framework for the project. We mentioned it earlier in that Twitter space. I think real world assets, it’s maybe 70 or 80% of legal. And then the rest is more about the project, is more creativity about the project, it’s more the business about the project. But if you are not 100%, let’s say regulated and legit and so on, then it might have some issues. So what we are doing, we are working hand in hand with LCX. So the Liechtenstein crypto Exchange, who has is one of the most licensed exchange in Europe with nine different licenses. One of the license is the physical validator. And the physical validator act as a notary in the real life. So basically we will send them, the purchase diamonds to Liechtenstein, to LCX in order for them to authenticate the realness, the realness of the diamonds. The fact that those diamonds are according exactly to their passport.
And the passport in a diamond is the GIA certificate, for example. And so they will authenticate, ensure and give us like a stamp if you want, that those assets are 100% valid, 100% legit. And then it will be, those assets will be closed in a third party vault, a physical vault. Once this is done, then we are adding a Lloyd’s insurance to every asset.
And then we are tokenizing the assets where the assets technically can be traded without the needs, so can be traded on our platform or on any other NFT platform that supports the ERC 721. And basically you can trade the assets without the need to move the assets. So the assets will stay in the physical vault at the same times when, when you are holding the assets, you will gain TIA tokens as rewards. So it’s kind of a staking holding of real world assets and at the same time you’re staking them. So you are earning rewards.
Those rewards can be used to purchase your next Tiamond, for example, and so on. And then basically you are, like I said, avoiding shipment costs. So if I want to sell my stone to Julian tomorrow, he can purchase it, he can become the owner of the asset without the need for me to send the assets to his home address and so on. And then for me, the need to pay the shipment, the need to pay export taxes, the need to pay four Julian import taxes into his country, and so on. And then last point also we are also giving the option to every user to redeem or to claim the real world diamond back. So after having earned or not whenever they want, but they can wait to earn all the tokens as a reward, or they can simply redeem the asset the next day that they purchase it.
We are sending the physical assets to that person wherever he lives. And then also the tokenized asset is not backed anymore at that time, not backed anymore by real world assets, but it becomes like a memorial or a souvenir of that asset. And we are just marking that. This asset is now redeemed and it can be tradable as a collectible, as it used to be with other NFTs or other tokenized assets. And so again, it’s not tokenized,
it’s not asset backed anymore.
Sumit Sagar, Host
Great. Okay, over to Tashish. Tashish, I’m from India and real estate always has some government intervention and lot of paperwork to do, even if I transferring from one person ownership from one person to another person. So how you will be solving this? Like can you, can you throw some light on that? Give me some simple four, five steps for normal retail users, they should know or be part of.
Tashish Rai Singhani, Speaker
So for us, it has always been explaining the most layman person in blockchain, if they get to understand, that means we understand the process. So, yes, unfortunately, India is not a very crypto welcoming nation, and most of our clients and associates are mostly from overseas. But yes, I understand this landscape very well in India. So, fortunately, because since we are tokenizing any asset, it becomes a security in the eyes of the regulator. So SEBI handles it, the Security Exchange Board of India, which handles the stock market, etcetera, and the other capital markets.
So SEBI has come up with a paper and they have not exactly allowed the entire process, but they have introduced a process wherein a property of 25 crores or above value, which is like about $3 million, can be tokenized, but it should be completed. I mean, it should be constructed already ready to use. It’s not that any property which is under construction can be tokenized. So that’s a good sign from the regulator. So small players indefinitely. Real estate is a large asset. So generally there was no big space for the small players, so they have opened it up. It’s not gone mainstream yet, but it will definitely go mainstream very soon. And because, see, in India or in any other, any other large nation, the custody and the ownership of property is very important to have. I mean, if you want to, if you are to be a legit owner, you have to have the title deed in your name and the custody as well. And with tokenization, this is only possible if there are complete regulations. The regulator has to know, the registrar of the properties has to know that this particular person owns the property through the, the registration process and the title deed. And additionally, that’s the custody. And then the ownership has to be through any protocol, any mechanism which completes the proof of custody process, that can be on blockchain, that can be through a custody service provider, and in this case, the government will be the custodian or the custody service provider. So I think in the next three to six months, we’ll have complete clarity. So any individual or a retail investor would be most likely allowed and would be capable of doing these investments, of course, by doing all the KYC processes, etcetera.
And outside India, there are some nations where it has been completely regularized, with MiCa coming in EU, and there is a vara regulation coming in UAE, DFSA coming in UAE. Again, there are multiple regulations, and the regulators are working very fast with the industry leaders. And I’m sure by the end of this year we’ll have at least, if not ten, then at least complete five to six regulators where the regulation process of real world asset tokenization can be done.
Sumit Sagar, Host
Okay. Okay, thank you. But Daniel, my question will be like is it the same with agro commodities also like while tokenizing agricultural products? If yes, then how we are solving this part also and is there any bodies in different countries or different continents who is taking care of that? Let’s say eSoy as a product?
Daniel Han, Speaker
Sorry, didn’t understand the question.
Sumit Sagar, Host
I would say just like real estate has a lot of government intervention in many of the countries and different bodies also, is it the same with agro commodities also is it taken like a lot of government intervention is there to tokenize it like soy product which you have mentioned in your website? Or is it different like anyone can, anyone can tokenize there?
Daniel Han, Speaker
Yeah, it’s, it’s a different, not different, but it seems very, very close to this real us state
investments, but agro commodities, we have the whole Latin America, a huge producer, huge issuer of agro commodities. And we have a close relation with regulators around the Latin America countries as Brazil, El Salvador and Argentina. So as we have this close partnerships, close with regulators, we can have it. We have companies registered to buy the real soybeans on these countries where we are located. And as on the side of El Salvador, we have the regulator, the commission, National Commission of Digital Assets, who is responsible to auditing to certificate the emission as we have it and see if we have the soybeans on our balance sheet as we are acquiring, according to the law inside each country we are operating. So on the point of view of this regulation and buying the assets and having it, the whole process is very clear and very smooth for NR securities as we have this close relationship with the regulators.
Sumit Sagar, Host
Amazing. Thanks a lot. I think we need now to ask to the audience if anyone has a question, because we were already busy for an hour. We could talk for hours about
the real world asset tokenization. So many different projects, so many exciting stuff coming up. So is there someone in the audience who would like to ask a question? Please raise your hands. There was one question, Steven, when the next CEX listing for IX?. But I am assuming Julian has left. So it is targeted to Julian.
Applicant, we’ll forward the question to Julian. They’ll reply to you on Twitter, probably. So I don’t see any questions here. Maybe one thing that I would like to ask to everyone is maybe to use 30 seconds of your time to try to finalize, to have a final word or even 1 minute, but let’s not do more than that. Maybe a thing about the future plans for your project or something that you want to share.
The thing that I wanted to share here for a minute is next week we will be in Dubai to represent Tiamonds. I know LCX is also joining over there. There are a lot of different events happening. We will be at Token 2049 and we will also be at the Polytrade event on Tuesday, Tuesday 16th. We have some panels where we are speakers. We have some different events where we are partnering with them as well.
So we really reach out to everyone. Everyone, if you are in Dubai, please reach out to us, ask us questions. We are here to try to make this, our RWA tokenization space grow much more and let’s make it happen. So let’s meet and let’s discuss more things in Dubai. We’ll be there with a few members of our team.
So please someone from eNor or Tashish or who wants to have those final words now.
Tashish Rai Singhani, Speaker
Yeah, I think from my side we are also traveling to Dubai for Token 2049 and Dubai is a second home so our company is also registered there. So looking forward to seeing a lot of enthusiasts and people who are interested for meeting. And then on the product side, since there’s a good update here that modular blockchains or roll up chains have
helped a lot to scale up the business. So we are also launching our own modular blockchain which will help us optimize the gas fees and make the transactions much more seamless and customized the operation. The smart contracts can be customized as well. So that’s the update. And then looking forward to entering new geographies,
exploring new regulations which are useful for both the asset owners and the investors.
And yeah, helping the entire industry to grow as fast as possible. That’s what the intent is.
Sumit Sagar, Host
Thank you. Thank you Tashish. Over to Daniel.
Daniel Han, Speaker
Hey, I would like to thank you for the time and invitation of this space here. It was very great to hear from you and also for the listening here on the next steps. On the product side, we are very happy here and in the partnership with eGrains to launch more agro commodities here on the next steps as eCoffee corn and eSugar. So we having a huge portfolio of agro commodities here to distribute in the next few months and also we want to spread this liquidity inside the crypto space, DeFi operations and that’s it. And thank you very much for your time. Thank you. Thank you.
Sumit Sagar, Host
Thank you a lot. Okay, Steven, then we are wrapping up. Community, the recap will be published as blog by tomorrow. And it will be published as podcasts, also on Spotify and other podcast channels. More AMA will be coming like this. More Twitter spaces will be coming like this.
So I would urge everyone to follow our social media channel. We’ll be in Dubai for almost, almost entire week. Next week, I would say so. Please come. Come to us if you want to ask anything. If you want to clarify any doubt. Tiamonds team will be there. LCX team will be there. And we’ll be more than happy to have a discussion with you. And just let’s tokenize the world together. One product at a time. One thing at a time. One asset at a time. That’s it. See you for next time. Cheers. Bye bye. Thank you.
