After a particularly successful event last year, Avalanche returns with its famous Avalanche Summit in Barcelona, ​​the Catalan capital. As always, Avalanche thinks big and Tremplin.io is happy to bring you all the important news and information straight from the heights of Barcelona into the heart of beautiful Poble Español. After our Day-1 and Day-2 live articles, it’s time to start Day-3!
Third and final day for the Avalanche Summit in Barcelona
This last day of the Avalanche Summit promises to be rich in news, after the many after parties yesterday, the participants left to exchange, meet and learn more about the future of Avalanche. The watchwords are tokenization, subnet and wrap messaging!
Tokenization and Art, a clever mix
The day starts strong with a very engaged discussion on new opportunities in the Tokenization sector, with Matthijs de Vries from AllianceBlock and Mads Boie Thomsen from ArtBanx. The discussion revolved around the different possibilities and reasons for the tokenization of assets like works of art, real estate or even skateboards.
After a few questions, the audience quickly explains that there are many problems with the democratization of physical assets in NFT format, for example, whether for problems of lack of clarity on regulation, guarantee on the issuer of the NFT in order to to know if this NFT is indeed backed by a physical object or how the change of ownership will take place if an NFT is transferred.
To these questions, the experts first respond that it is important to surround yourself with many different experts. Indeed, the two stakeholders were mainly actors in the tokenization and the on-chain part, but worked with legal partners and other private entities to ensure fluidity and security of use. Mads Boie Thomsen also talks to us about the concept of “Freeport”, which are private areas, extremely secure and accustomed to managing works of art of all kinds. It is by working with this type of expert that it is possible to guarantee that a work is really safe and trust is placed in the Freeports regarding the management and security of the object.
Mads Boie Thomsen also explains to us that the art market in its current form is in fact very opaque, the investor does not have much information on the market, the real rate and the possibilities around a general work. You always have to go through a private entity to get this type of information. Mads Boie Thomsen therefore offers a more open solution and also allows buyers of works of art to have their goods appraised in order to understand the theoretical value, even if they do not wish to sell them.
Around the Oracles
The Oracles are the guarantors of the information transition between the off-chain world and the on-chain world. There are many Oracles, Chainlink being the market leader. In the Avalanche ecosystem, and especially of the Subnets, it is RedStone that takes on an important role.
Marcin KaĹşmierczak explains how RedStone’s new Oracle architecture enables the same data streams to be provided on Avalanche’s mainnet and all Subnets. This architecture allows to provide more price data covering all Avalanche native tokens, staked tokens and LP tokens. The 10 second update interval matches the speed of the Avalanche chain and enables efficient perpetual and derivative protocols.
The most affected markets are currently those of DeFi, but in the future it will be possible to have oracles on the betting market, on the weather and globally on all the information that can be displayed in a encrypted format. Ava Labs strongly believes in the future role of Oracles and that is why one of the grants was awarded to RedStone.
It’s now time to meet more developers, investors and enthusiasts during the lunch break before coming to finish this third and last article covering the Avalanche Summit event in Barcelona.
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