Blockchain 2.0 (IV): Smart assets build a decentralized asset management system

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What are Smart Assets?

Smart assets are all types of assets that can be traded based on blockchain. Specifically, ownership is controlled through blockchain and contracts are in compliance with current laws.

Blockchain can be used for the registration and transaction of any assets, including various fields of finance, economy and currency, including tangible assets such as real estate and cars, as well as intangible assets such as stocks, savings, intellectual property rights, etc.

The core of smart assets is to control ownership. Digital assets registered on the blockchain can be used at any time through private keys.

A typical example of a compliant smart asset is: when a person repays all loans, the car is automatically transferred from the finance company to the individual. (This process may require the joint execution of smart contracts of multiple parties involved).

In the future, our properties, garages, and access control systems may be implanted with software and hardware identification devices. When the owner uses them, they can automatically recognize the owner's digital identity registered on the blockchain, just like a scene from a Hollywood science fiction movie, allowing us to enter a convenient smart world.

Smart assets using blockchain technology to trade is a new concept. At present, it is difficult for us to adapt to this way of controlling assets with code, but its convenience and low transaction dispute rate will prompt its rapid application in certain fields. Smart assets based on blockchain give us the opportunity to build a trustless decentralized asset management system. As long as property law can keep up with the development of smart assets, recording ownership on the assets themselves will greatly simplify asset management and greatly improve social efficiency.

Smart assets will develop rapidly in the next decade and will be quickly used in certain fields.