Tokenizing Real World Assets | Robert Leshner
Bankless
Exploring the Evolution and Value of Stablecoins in Blockchain Technology
Stablecoins represent the first successful example of tokenizing off-chain assets onto a blockchain, with USDC and Tether being prime instances where a US dollar is backed by a dollar held in a bank account. The value of stablecoins lies in the ability to redeem them for the equivalent off-chain asset, fostering a strong association between the token and the underlying asset. With a market size of $140 billion, stablecoins have proved to be a significant use case of blockchain technology due to their versatility and programmability compared to traditional bank accounts. While stablecoins have seen widespread adoption, other tokenized assets have not achieved similar success yet, indicating that society is still in the early stages of embracing on-chain asset infrastructure.
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