RWA on Bitcoin

Introduction

Physical gold has been a popular store of value for centuries. However, owning physical gold has its limitations, including storage costs, security concerns, and limited liquidity. The idea of tokenizing physical gold has been around for a while, but it's only recently that blockchain technology has made it possible to do it securely and transparently. In this blog post, we will discuss a proof of technology project to tokenise physical gold using the Bitcoin network.

Scope of Project

The scope of the project was to test if the Bitcoin network could be used to tokenise real world assets. Could we use the BRC-20 approach to inscribe serialised assets and create a digital representation of the physical gold which could be traded on the Bitcoin network.

How it was done

To tokenise physical gold, Defactor worked with one of our partners in Hong Kong (insert company details) to secure the assets which would be tokenised.

21,000,000 RWAG were minted - insert t/x

The Defactor team then sent X BTC to the contract which triggered the assignment of the physical gold to the token owners.

Note this was a closed test and Defactor is a trusted customer of X.

Key Outcomes and Learnings

The project was successful in creating a digital representation of physical gold that could be traded on the Bitcoin network. The use of blockchain technology provided a transparent and secure way to create and trade the tokens, ensuring that ownership of the physical gold was accurately represented.

The project also highlighted some key learnings…

Conclusion

In conclusion, the project to tokenise physical gold using the Bitcoin network was a successful proof of technology project. The project demonstrated the potential of blockchain technology to create more accessible, liquid, and secure assets.

We are excited to work more on the bitcoin network and push the limits as to what is possible as we advance our mission to enable the tokenisation of real world assets.

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