Are you still collecting, or are you already using Leu?
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Are you still collecting, or are you already using Leu?
Karen Wendt, SFTL President & expert in responsible, impact and sustainable investing
https://www.linkedin.com/in/profkarenwendt/
Are you still collecting, or are you already using Leu?
With the tokenisation of assets, many new market participants are also emerging. Now traditional exchanges are also getting into this booming business. For example, 260x, whose main investors are Commerzbank and the German stock exchange. Here, things like works of art, classic cars and other physical assets are digitised, i.e. non-native assets.
Would you like an example? You are an art collector and have a beautiful art collection privately at home. Instead of a physical document, a token records who owns that asset. So when they tokenise their art, this token can be traded af an exchange, such as the 360x. So a tokenised artwork is mapped on the blockchain, as well as who owns that artwork and how much value it has. If this artwork is sold or transferred and gains value, this is also visible on the blockchain. The same goes for all other assets such as currencies, real estate or shares - they can also be tokenised.
Another example comes from an association Encointer in Zurich. Encointer developed the digital local currency Leu, with the help of which the association generates a communal additional income. If you want to receive Leu, all you have to do is turn up at a certain meeting point in Kreis 5 at a set time every ten days - in real life, not digitally! In return, you receive 44 leu for your digital wallet. That currently corresponds to about 44 francs. In this way, Leu links the digital world with the physical world: Anyone who shows up at the meeting point proves that there is a person behind each Wallet. This person then receives a community income for his or her wallet, i.e. the 44 Leu. Gesa Feldhusen, project manager at Leu, explains: Blockchain technologies do not have to remain in the tech bubble, but all people can participate in this new financial system. In this way, we want to overcome fears of contact, reduce inequality and promote equal opportunities. Leu wants to create an equal-opportunity money system that also supports the local economy. The leu is created from nothing on the blockchain. However, the leu can only have value if various businesses accept it as a means of payment and it can also be reused so that a local circular economy is created. This is now the case in Kreis 5 in Zurich. Various shops and restaurants accept the Leu.
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Karen Wendt
President of SwissFinTechLadies