The total value locked for real-world assets on the blockchain has reached a new record, raising questions about their true value.
Growth of Real-World Asset Value on Blockchain
According to DeFi Llama, real-world assets on the blockchain have reached a total value of $10.68 billion, with BlackRock's tokenized fund contributing 15.44% of the total. This surge reflects growing interest in asset tokenization, especially in stable yield options like U.S. Treasuries and real estate.
Involvement of Major Asset Managers
Major asset managers including BlackRock, Fidelity, and Janus Henderson have shown interest in tokenization. Recently, Ondo Finance launched a Layer 1 blockchain focused on RWAs, and its protocol has quickly risen to fourth in terms of TVL.
Debate on Asset Value on Blockchain
Attorney Joe Carlasare argues real-world assets cannot be fully represented on-chain as blockchain records are essentially IOUs. Dave Weisberger counters that while physical value isn't transferable, titles can be verified through tokenization, highlighting potential benefits in ownership verification.
Interest and investment in real-world asset tokenization continue to rise despite debates on the full representation of these assets' value on the blockchain. While blockchain offers simplifications in ownership verification, the need for court enforcement remains a topic of discussion.
