The most substantial challenge in tokenizing the assets is to know how to supervise, control and make sure that the tokens on the chainstay connected to the assets. The WAX’s regulation creates monitoring supervision typically by the holders of the tokens. The exchange process gets done through the users accountable for transferring the Transfer Agents, their monitoring committees, proof of stake consensus algorithm and the rating systems. If the transfer agent neglects his responsibility, the supervisory board and the financial stakes are affected. And if the supervisory committee doesn’t take the required action against the less performing Transfer Agents, the token users will not elect them to rule their game again. Because of this WAX token will continue to remain linked to their virtual property.
Since we are getting into a period where it will be possible to a fraction of physical property, such as a movie, a star NBA player’s shoe and baseball card it will open a new opportunity for collectors and fans. As a result of devolving the delivery and the governance of the advanced day exchanges, Guilds will narrow down to overseeing by authenticating items and managing the ownership while the agents will concentrate on the process of asset delivery. In future, both would implement IoT and RFID technology to know the location of the property.
Malcolm CasSelle is the president of Worldwide Asset eXchage and CIO of OPSkins, the leading market for selling and buying goods from videos that are online. Prior to his current post, Malcon was the president of Tron and is still its CTO. Malcon has excellent entrepreneurial and executive skills. He has excellent communication skills and also good leadership ability.