Tokenized Uranium

[pmbug]

Tokenized uranium: Uranium3o8 ($U) is the first token physically backed by uranium

Sanmiguel Capital Investment has partnered with Madison Metals to launch Uranium3o8 ($U), the first token to be physically backed by uranium.

www.kitco.com

Assuming no shenanigans, this move would open up trading in the physical uranium market to speculators (and large institutions). A bit like the futures markets, but without set delivery dates. I wonder what the token issuers are going to do about uranium inventory that is backing tokens held by speculators that are not interested in physical delivery. They could end up eating significant storage costs I would think.

 

[nickndfl]

I heard they are also going to produce 1oz bars. They will go well with my plutonium bars.

 

[pmbug]

 

[TheRealZed]

Tokenized uranium: Uranium3o8 ($U) is the first token physically backed by uranium

Sanmiguel Capital Investment has partnered with Madison Metals to launch Uranium3o8 ($U), the first token to be physically backed by uranium.

www.kitco.com

Assuming no shenanigans, this move would open up trading in the physical uranium market to speculators (and large institutions). A bit like the futures markets, but without set delivery dates. I wonder what the token issuers are going to do about uranium inventory that is backing tokens held by speculators that are not interested in physical delivery. They could end up eating significant storage costs I would think.

We need a stock market like platform for tokens, we need that level of trust.

 

[pmbug]

We need a stock market like platform for tokens, we need that level of trust.

I haven't fully digested it, but some peeps think there is a way to mitigate the trust issue with tokenized assets:

https://www.pmbug.com/threads/crypto-trading-market-thread.3908/post-78675

 

[TheRealZed]

I haven't fully digested it, but some peeps think there is a way to mitigate the trust issue with tokenized assets:

https://www.pmbug.com/threads/crypto-trading-market-thread.3908/post-78675

Blockchain should do it, we just need some sort of issuance authority with a sound due diligence process to assure that what is being sold is what we think it is, and the risks are fully disclosed.

The incentive to do this is massive so it will happen.

Imagine, things like a small real estate developer. Instead of going to the bank, he tokenises 50% of the project to fund it and the profit goes straight back to the people whose money was always at risk anyway. The banks cut disappears, you get the profit but on the flip side you are responsible for assessing and taking the risk. Ultimate free market and it eliminates 'too big to fail' in the process, systemic risk should be lowered.