![](http://bitcoinworld.co.in/wp-content/uploads/2020/11/TOKO.jpg)
TOKO, a new tokenization platform targeting ‘high-value assets’ has launched as a proof-of-concept by tokenizing a piece of fine art.
The platform is a collaboration between international law firm DLA Piper — which operates in more than 40 countries — Aldersgate DLS and Hedera Hashgraph. Although it has the ability to function across any asset class, the team identified the best use case “for high value assets in alternative asset classes such as real estate and art.”
TOKO will initially function in markets that have a clear regulatory framework on asset tokenization such as “the UK, Singapore, Switzerland, US, Canada and potentially Australia,” however the team is also “currently examining the local restrictions and regulations” in other potential markets, and aims “to provide this offering one way or another to all of our clients”.
On its first day of launch, TOKO completed the first tokenization of a piece of fine artwork commissioned and purchased by a group of DLA Piper Hong Kong partners.
DLA Piper Technology partner Scott Thiel said the platform is the culmination of “years of research and development” into the “legal issues surrounding security token creation and fundraising”. He noted the difficulties current platforms faced in delivering such offerings at scale.
A spokesperson for DLA Piper said that TOKO “can reduce the risk of fraud through the strict, timestamped audit trails created through blockchain functionality” and that “tokenization also enables exit opportunities.”
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.