African experience in the use of tokens

As I wrote in a previous article, a token can act as a stock or a bond and give the right to receive dividends.

But the Central African Republic decided to use tokens differently. They tokenize the natural resources of their country.

State-issued digital tokens will serve to certify rights to a real asset, such as a coal or precious metal deposits. Africans have something to tokenize: the country is rich in deposits of diamonds, uranium, gold and oil.

Tokens in this case are contracts placed on the blockchain (also known as smart contracts). It contains all conditions - who owns asset, for how long, etc. Smart contracts are available for everyone to review, i.e. the system is completely transparent - everyone can see who bought asset, at what price and how owner fulfills his obligations under the contract. It is important that the token cannot be forged, unlike ordinary documents and certificates.

Looking at the experience of Africa, it is easy to draw parallels with the World of Clones - land deeds, mines, hunting grounds and much more can be tokenized and receive free circulation among players.

Author: DarkSilver