Who Knew ‘Debt Tokenization’ Could Be This Exciting?

TL;DR

• A handful of boring businesses have launched recently that really excite us because of their impact on Web3 growth.

• For example: Coinbase announced a new on-chain platform that will allow financial assets, like debt, to be bought and sold under an initiative called ‘Project Diamond.’

• This will help pull more traditional financial businesses into the crypto space and grow the overall value of the crypto market, translating to more money in the pockets of crypto holders.

Full Story

Boy, do we have the most exciting & boring news for you today.

(Yes, both things can be true at once.)

Here’s what we’re on about:

A handful of boring businesses have launched recently that really excite us because of their impact on Web3 growth.

The main premises of most of these businesses is to create easier ways to process old Web2 data on a blockchain.

For example:

Technology Innovation Institute (TII) wants to allow companies to buy/sell/trade carbon credits via the blockchain.

(Ok, sounds kinda boring).

An open global market for carbon credits will help get us to a net-zero emissions future.

(That’s exciting!).

And this week’s update goes a little something like this:

Coinbase announced a new on-chain platform that will allow financial assets, like debt, to be bought and sold under an initiative called ‘Project Diamond.’

(Ok, sounds kinda boring).

This will help pull more traditional financial businesses into the crypto space and grow the overall value of the crypto market, translating to more money in the pockets of crypto holders.

(That’s exciting!).

So what’re traditional financial businesses getting out of this?

Faster settlements, lower costs, and greater transparency.

(Boring for us, exciting for them!)