Tokenization of Assets is a MUST
08 Apr 2019 #ABBC Coin
Notwithstanding the fact that blockchain and cryptocurrencies, as its inherent part, have proved their capability of exerting a tangible influence on the global financial environment, the field of application of this, undoubtedly, disruptive technology is still quite limited.
The cryptocurrencies are perceived mostly as a highly volatile speculative tool whilst blockchain is applied primarily as an efficient instrument for data storage and management. For many reasons, this unique innovation is confined to the virtual economy with little to instances of implementation in the real economy.
This issue has to be addressed, if the adepts of blockchain want to see this technology make fundamental changes to the contemporary framework for financial relationships. And projects like MUST might just have developed a concrete solution.
What is MUST
MUST, which stands for the Main Universal Standard of Tokenization, is a blockchain project registered in the Estonian jurisdiction but with the team of Russian experts at its core. They have developed an open blockchain protocol of the same name along with the principles of tokenization of assets and the transfer of ownership rights to both digital and physical assets by the virtue of blockchain and the native non-fungible MUST tokens, which are compliant with the Ethereum’s ERC-721 standard.
The project’s primary objective is to help small and medium-sized businesses to obtain access to improved financing and lending sources which is otherwise restricted for them due to the discriminative financial regulations and the excessively strict banking standards.
The MUST Protocol
It is achieved through the use of blockchain and the MUSTProtocol, which is a collection of both on and off-chain algorithms for valuation of assets, transfer of ownership rights, and administration of assets, which would ultimately eliminate all redundant intermediaries and open access to the peer-to-peer market of tokenized digital and physical assets.
The Protocol operates on the proof-of-asset and the proof-of-rights algorithms and serves as the basis for the development of decentralized applications which provide means for carrying out a wide range of financial operations, from selling assets and securities to leasing the items of real estate.
It is a key element of a set of services that facilitate the process of tokenization:
- DAsset Core. The system for verification of information about an asset which is subsequently placed in a secured digital container which is called DAsset. This particular system operates in the off-chain mode.
- TAtom Core, on the other hand, is an on-chain structure responsible for authenticating of the asset data with regard to the issuance and usage of the associated token - TAsset, as well as for the confirmation tokens specifically designed for atomic swaps - TAtom.
- TRight Core. An on-chain system that confirms the rights to assets and the use of the corresponding tokens - TRight.
The MUST platform
The main characteristic of this platform is that it grants the opportunity to develop the multi-purpose dApps which can be later applied to blockchains other than Ethereum, for instance, NEM and EOS.
The MUSTplatform is also comprised of MUSTEX, a trustless decentralized exchange that conducts atomic swaps between tokens, accompanied by a special marketplace for the asset data, and the unique API/SDK development kit which includes several powerful tools designed to help integrate the MUST protocol.
ICO details
At the moment, the MUST project is in the first stage of token sale with the entire ICO planned to last till December 31.
Right now, one MUST token is priced at $0.04 with the price due to increase by $0.02 at each of the following five stages. The minimum investment is established at $100. The team offers both airdrop and bounty programs.
