🔥 Citi predicts tokenization of financial assets could unlock trillions by 2030

🔥 Citi predicts tokenization of financial assets could unlock trillions by 2030 💀 Do Kwon is facing difficult conditions in Montenegro's penal system 👀 UNICEF experiments with DAOs to improve global operations

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Here's what recently happened in the space:

🔥 Citi predicts tokenization of financial assets could unlock trillions by 2030

💀 Do Kwon is facing difficult conditions in Montenegro's penal system

👀 UNICEF experiments with DAOs to improve global operations

Citi predicts tokenization of financial assets could unlock trillions by 2030

Citi, one of the world's leading financial institutions, predicts that the market for tokenized securities could reach $4 trillion by 2030. This is due to blockchain technology's capabilities and its potential to revolutionize the way assets are managed and traded.

The report from Citi states that blockchain technology is nearing an inflection point in terms of adoption, which means that it could be close to a breakthrough. Tokenizing financial and real-world assets is seen as the “killer use-case” for blockchain technology, potentially unlocking trillions of dollars worth of value by the end of this decade.

The potential benefits from tokenization include increased liquidity and transparency, cost savings, faster transaction times, improved accuracy and reduced risk of fraud. In addition, with blockchain technology, no central authority is needed to manage or verify transactions, greatly reducing traditional barriers to entry into the financial services industry. Citi thinks the industry should prepare for this shift, as tokenization could revolutionize the trading of asset classes from stocks and bonds to real estate and commodities.

The world is on the cusp of a new era in digital financial services, with blockchain technology at its forefront, no matter what the FUDers might say.

Do Kwon is facing difficult conditions in Montenegro's penal system

It seems that Do Kwon's prospects are grim. Even if extradition is not an option, his situation in Montenegro does not appear to be any more favorable. As he is waiting to be extrajudicially transferred to either the United States or South Korea, his current conditions in Montenegro’s penal system are likely to be extremely harsh. According to U.S State human rights report from 2020, prison conditions in Montenegro are “poor” to say the least, and prison officers have even been convicted of torturing inmates. As such, Do Kwon is at risk for extreme mistreatment and abuse in the country's jails.

What happens next for Do Kwon is not clear yet. However, his legal journey will be a difficult one either way. His fate will ultimately depend on the decisions of Montenegrin and international authorities. It is possible that he will be extradited to either the United States or South Korea, where he may face different – although no less challenging – legal proceedings. Until then, Do Kwon must endure the difficult living conditions in Montenegro’s penal system, just like Terra holders endured him exit scamming them and taking their money.

UNICEF experiments with DAOs to improve global operations

UNICEF, a UN agency specializing in relief and humanitarian aid for children, seeks to improve the effectiveness of its operations by experimenting with a decentralized autonomous organization (DAO). The goal of the DAO will be to create a more equitable distribution of power and communication in the organization's global operations.

According to UNICEF blockchain lead Arun Maharajan, speaking at Paris Blockchain Week last week, this DAO prototype is intended to help create digital public goods that are open-source, shareable across countries and an alternative to the existing private, proprietary solutions.

Maharajan added that the DAO will help UNICEF monitor their activities more closely and ensure that their actions are transparent. The idea is to create a system of checks and balances in order for UNICEF to better serve its beneficiaries. This DAO concept is part of a larger endeavor in crypto for the organization. In October 2019, UNICEF set up the UNICEF CryptoFund to receive donations in bitcoin and ether and experimented with using blockchain technology and cryptocurrencies to fund projects that benefit children.

This is something that blockchain tech is very capable of, a decentralized system that allows for efficient and secure transactions, while also providing a transparent view of the activities, and it's about time that an organization as influential as UNICEF is making use of the technology. We can hope that their experiment with DAOs will be a successful one and that they implement it across their global operations.