Hassan Maishera
TL;DR
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The Klaytn Foundation wants to deliver positive social change.
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The company was present at the recently concluded Korea Blockchain Week.
The Klaytn Foundation Seeks To Transform The Klaytn Blockchain
The recently concluded Korea Blockchain Week was one of the largest blockchain events held in Asia. Some of the speakers at the event included Ethereum Co-founder Vitalik Buterin, Circle CEO Jeremy Allaire, Wemade CEO Henry Chang, Maelstrom CIO Arthur Hayes, Hashed CEO Simon Kim, BitGo Co-founder and CEO Mike Belshe, Polygon Co-founder Sandeep Nailwal, Line Next’s Business Director Woosuk Kim, and SkyBridge Capital’s Founder and Managing Partner Anthony Scaramucci.
The event saw the presence of some of the leading Web3 companies, including The Sandbox, the Klaytn Foundation, 1inch Network, Oasys, and several others.
The Klaytn Foundation has unveiled an ambitious plan to create positive social change by leveraging blockchain technology.
In a press release shared with Cryptowisser, the foundation said it intends to facilitate greater financial accessibility across Asia and the rest of the world by supporting a new wave of projects operating on the Klaytn blockchain.
The 2023 roadmap saw the Klaytn Foundation indicate its desire to transform Klaytn into the public foundational layer of tomorrow's onchain world by implementing core societal infrastructure.
The foundation has now expanded its vision, indicating the precise use cases that will be pivotal in achieving this goal, starting with RWA tokenization.
During the Korea Blockchain Week, the Klaytn Foundation stated that;
"Sustainability is the most important aspect of public blockchains. Sustainability means more than the environment. Includes economic, tehcnical and community sustainability."
To launch its RWA program, the Klaytn Foundation is working with partners who will be helping to bring real-world assets onchain. Some of these companies include CREDER, a financial platform focused on digital assets backed by physical gold, and Tokeny Solutions, which helps businesses issue RWAs while maintaining full compliance.
The team has also onboarded Elysia, which is making it easier to trade residential and commercial real estate, among other tokenized RWAs.
The Klaytn Foundation believes that Klaytn blockchain’s architecture is ideally suited to host tokenized assets from real estate to precious metals and artwork, thanks to its low transaction fees and low transaction latency.
. The ability to automate ownership management, fractionalize high-value assets, and record transaction history on-chain has the potential to significantly improve transparency, accessibility, and security.
The foundation also seeks to support its RWA tokenization initiative by providing the infrastructure to support a broader range of RWAs. The team is now working on solutions for token issuance, asset storage, and trading, supported by the creation of a new token standard for RWAs to ensure compliance requirements are met.
With the help of its RWA program, the Klaytn Foundation believes that it can affect positive social change while pioneering new use cases for blockchain. The company wants to onboard more businesses to Web3 and showcase the ability of the technology to transform global markets.
Developed by leading Korean IT company Kakao, Klaytn is a global Layer 1 public blockchain designed to power tomorrow’s on-chain world. With the lowest transaction latency amongst leading blockchains, enterprise-grade reliability, and a developer-friendly environment, Klaytn provides a seamless experience for users and developers that is second to none.
