{"id":18839,"date":"2024-11-22T18:00:00","date_gmt":"2024-11-22T16:00:00","guid":{"rendered":"https:\/\/forklog.com\/en\/i-want-to-bequeath-my-entire-estate-to-a-cat-how-to-do-it-with-web3\/"},"modified":"2024-11-22T18:00:00","modified_gmt":"2024-11-22T16:00:00","slug":"i-want-to-bequeath-my-entire-estate-to-a-cat-how-to-do-it-with-web3","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/i-want-to-bequeath-my-entire-estate-to-a-cat-how-to-do-it-with-web3\/","title":{"rendered":"I want to bequeath my entire estate to a cat. How to do it with Web3"},"content":{"rendered":"

A life spent working and trading, squinting at \u2018golden crosses\u2019, stacking every satoshi in a Web3 wallet and skimping on a personal life\u2014and now the end approaches. What if you want to bequeath your crypto wealth to the only creature you truly care about\u2014your beloved cat\u2014but you trust only smart contracts?<\/p>\n

Asking that question, Sergey Golubenko found an answer in the RWA segment of the market.<\/p>\n

Tokenising property<\/h2>\n

Before transferring the right to real estate via a smart contract, the asset must be turned into a digital version.<\/p>\n

Property has long been illiquid, requiring hefty capital and slow transactions. Blockchain has changed the field. Fractionalisation through tokenisation has lowered the investment threshold, enabling shared ownership of a single physical object. In the RWA segment, developers have addressed trust and transparency.<\/p>\n

Real World Assets is a term for assets from the \u2018real world\u2019 issued as tokens on a blockchain. The segment includes real estate, title, works of art, jewellery and metals, traditional financial instruments and stablecoins. The last of these account for about 94%.<\/p>\n

The concept involves tokenising existing assets to move value into dapps<\/span>, cut costs or boost capital-efficiency with DeFi tools.<\/p>\n

The investment giant behind a leading spot bitcoin ETF, BlackRock, is active in RWA. According to RWA.xyz<\/a>, as of November 22, 2024 the tokenised money-market fund BUIDL<\/span> leads the sector by AUM<\/span>, with more than $535m under management.<\/p>\n

Tokenising real estate means splitting an asset into digital tokens that represent the property together with its rights and obligations. Contract terms are encoded in smart contracts. The code triggers predefined events when conditions are met. For example, a smart contract can automatically\u2014without human intervention\u2014update a land registry.<\/p>\n

Asset tokenisation typically involves four stages:<\/p>\n

    \n
  1. Verification of ownership. The owner\u2019s relationship to the asset is legally confirmed.<\/li>\n
  2. Onboarding to a blockchain platform. The asset is migrated to a dapp that supports tokenisation.<\/li>\n
  3. Valuation. Its price is determined and approved in line with regulatory requirements.<\/li>\n
  4. Offering the tokenised asset. The asset is divided into one or many tokens for trading or investment.<\/li>\n<\/ol>\n

    For safe on-chain storage and distribution, timely information about the asset\u2019s token is crucial throughout its lifecycle\u2014creation, collateralisation, valuation and trading. The success of asset digitalisation relies on blockchain oracles such as Chainlink or Pyth, which stream up-to-date data about the object to connected dapps.<\/p>\n

    To bring housing from the \u2018real world\u2019 on-chain, non-fungible tokens (NFTs) are most often used. The ERC\u2011721 NFT standard ties to smart contracts that record all token transactions.<\/p>\n

    Ethereum-born standards ensure interoperability across networks and add useful functions:<\/p>\n