My first hand experience and knowledge on cryptocurrencies was in 2015. It was an app where I can earn virtual coins through tasks or trade and invest them. In 2018, when there was a sudden downfall and issues concerning that virtual coin; I stopped investing but still continued using other services in the app such as mobile payments and online shopping.
My understanding and awareness on blockchain and cryptocurrency is too shallow until I met the representatives from World Token Issuing Alliance (WTIA) and gave me in-depth knowledge about their technology.
WTIA is the advisory and capital market solution of some of the biggest real-world blockchain projects in the world. Projects include sovereign-level tokenization programs, utility-token driven business models for listed companies, tokenized infrastructure securities, high technology applications and much more. Governments and large corporations seeking a new paradigm in management, asset utilization, business development and stakeholder engagement have joined the WTIA, therefore it has become a network of some of the world’s top business, infrastructure development, blockchain advisors and discerning investors, bringing capital, technology and know-how to developing countries and large multi-national corporations.
WTIA Representatives showed off their license from CEZA
Just like the other blockchain and virtual currencies, WTIA sought license for them to be able to operate in the country. This June, the Cagayan Economic Zone Authority has granted an Offshore Virtual Currency Exchange (OVCE) Provisional Regular License to WTIA, paving the way for WTIA to launch its exchange service on the WTIA Platform.
With the help of the regulatory and business framework in CEZA, the World Token Issuing Alliance (WTIA) will help companies and countries from around the world adopt emerging blockchain technology and embrace a new tokenized economy.
WTIA works with some of the world’s largest blockchain and asset tokenization projects and is responsible for bringing together such projects as Monopoly Hotels & Resorts (MHR); Smart City Company (SCC); and many more.
According to Keunyoung Kim, the chairman of WTIA, "WTIA is all about supporting Real Projects that have a positive impact on the community and country. Projects that deliver economic growth, create high value jobs, and can benefit from blockchain technology’s transparency, trust and security."
This is a major step forward for WTIA as they prepare to launch their fully regulated security token exchange platform to increase liquidity for their projects. WTIA’s new license will allow WTIA to offer security, utility and virtual currency tokens, covering the broad spectrum of token offerings required as the portfolio of projects under WTIA expands.
With the increasing popularity of blockchain and its growing ecosystem of tokens, liquidity ensures fair pricing for projects through market dynamics and allows users to invest in the success of projects that they support.
Kaycee Kim CEO of WTIA expressed that they are very excited to receive this important license from CEZA. WTIA will be able to help their projects develop tokenization models based on asset digitalization, solving many of the problems and bottlenecks in the current marketplace. Through WTIA and blockchain technology, they are hopeful that they can bring real projects to fruition, creating economic prosperity and jobs for all.
The ability to tokenize assets is creating a quiet revolution in the financial world. The digital tokenization of assets such as real estate, corporate assets and even IP allows assets to change hands conveniently, quickly and cheaply, without the need for complicated processes and even middlemen. Information is stored on an immutable ledger, secured via a decentralized network, and linked through cryptology, creating a trusted system for the transfer and verification of ownership. Many mainstream financial institutions and asset management companies are very interested in the prospects from this technology and are considering the issuance of tokens backed by real world assets.
One of the features of WTIA is the WTIA Exchange and the RXR Token. The WTIA-X is a platform or an app for the digital exchange enhancing liquidity of the projects, giving the network of over 54 million investors an opportunity to partake in the development and growth of WTIA projects. Do take note however, that unlike the current blockchain technology and cryptocurrencies in the country, WTIA is not open for small scale investments, because they are building real projects for communities and smart cities and generate jobs and opportunities for people.
RXR coin on the other hand, is a utility token that are issued to provide liquidity and trading support to all WTIA projects. It will be used to pay for fees on WTIA and WTIA-X. RxR Tokens can be exchanged for BTC and ETH.
By licensing WTIA in the Philippines, it is not impossible that the country may soon adapt the WTIA Logistics or WLOG Platform which forms the backbone for logistics and payment settlement between customers and stakeholders, or copy the Tunisia Economic City project which is a development of Smart City wherein the Security Token is tied to real estate development and growth promotion featuring Smart Payments, Smart Energy, Waste management and more.
With the aid of CEZA which will be responsible for all the legal aspects of WTIA's investments and transactions in the country, the company is confident that Philippines efforts to develop its virtual currency and blockchain industry will lead the region in the years to come.
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