# Сопутствующие статьи по теме Ownership

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Ownership", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Wrapped Real-World Assets (RWA)

Packaged Real-World Assets (RWAs) are a contentious yet pragmatic approach to bringing traditional assets on-chain. Unlike native RWAs, where ownership and transfers are fully on-chain and legally recognized, packaged RWAs use tokens as representations of off-chain assets held by custodians, SPVs, or brokers. This often draws criticism from crypto purists who prioritize trust minimization, as packaged RWAs reintroduce intermediaries and traditional legal frameworks. The core issue lies in ownership: some tokens provide legal ownership, while others only offer price exposure without actual asset ownership. Packaged RWAs are not ideal but serve as a bridge for institutional capital that cannot immediately adopt fully native on-chain systems due to existing legal and operational constraints. Key challenges include proving the existence and uniqueness of underlying assets without double-counting, and ensuring timely updates to reflect real-time market conditions. The solution is not full transparency—which could expose sensitive data—but verifiable constraints: proving critical facts like collateralization and asset backing without disclosing everything. Effective packaged RWAs require three elements: clear legal rights, independent verification (not just issuer-controlled dashboards), and high-frequency updates to ensure accuracy. They are a transitional tool, not the end goal, and must evolve with better validation, privacy-preserving proofs, and real-time attestations to gain trust and utility.

marsbit02/10 10:25

marsbit02/10 10:25

a16z Crypto Founder: The Blockchain World as I See It

A16z Crypto founder Chris Dixon addresses the misconception that non-financial use cases for crypto are dead, arguing that the core value proposition of blockchain—enabling large-scale coordination of people and capital with embedded ownership—remains valid. He emphasizes that the current financial dominance (e.g., DeFi, stablecoins, payments) is a natural first phase, serving as both a foundation and testing ground for broader applications. Dixon highlights the importance of sequence: infrastructure and distribution must mature before non-financial applications (like media, gaming, or AI) can flourish. He notes that trust in tokens has been eroded by scams and regulatory uncertainty, slowing adoption. Clear policy frameworks, such as the CLARITY Act, are critical to rebuilding trust and providing legal clarity. Drawing parallels to the early internet and AI development, Dixon stresses that building new industries is a long-term endeavor requiring patience. He remains optimistic about future breakthroughs, citing the recent rapid adoption of stablecoins as evidence of how sustained groundwork can lead to sudden, transformative progress. The essay underscores a commitment to long-term investment and the belief that foundational efforts will eventually enable new economic and cultural categories on blockchain.

marsbit02/07 05:57

a16z Crypto Founder: The Blockchain World as I See It

marsbit02/07 05:57

South Korean Authorities Question Crypto Exchange Executives Over Lawmaker’s ‘Favoritism’ Controversy

South Korean police have summoned executives from major crypto exchanges, including Upbit's parent company Dunamu and Bithumb, as part of an investigation into allegations of favoritism by independent lawmaker Kim Byung-kee. He is accused of seeking employment for his son at these firms and then using his political position to attack Dunamu, Upbit's operator, after his son was hired at Bithumb. The investigation coincides with the Financial Services Commission's controversial proposal to impose a 15%-20% ownership cap on crypto exchange major shareholders, a move opposed by the industry and the ruling party for potentially hindering growth and conflicting with global standards.

bitcoinist02/05 14:09

South Korean Authorities Question Crypto Exchange Executives Over Lawmaker’s ‘Favoritism’ Controversy

bitcoinist02/05 14:09

Pundit Breaks Down Dogecoin ETFs And What It Means To Invest In Them

Crypto expert John Carter analyzes the potential introduction of a Dogecoin ETF, framing it as a traditional financial product rather than a direct crypto investment. He explains its core value is accessibility, allowing investors to gain Dogecoin exposure through familiar stock exchanges and brokerage accounts, bypassing the need for digital wallets or private key management. However, Carter emphasizes a critical distinction: buying ETF shares means investing in a fund that tracks Dogecoin's price, not owning the actual cryptocurrency. This structure offers regulatory comfort and operational ease but sacrifices direct ownership, control, and the decentralized principles of crypto. Ultimately, a Dogecoin ETF is a trade-off—providing simplified exposure through conventional finance rather than true asset ownership.

bitcoinist01/28 20:02

Pundit Breaks Down Dogecoin ETFs And What It Means To Invest In Them

bitcoinist01/28 20:02

The Inevitable Rise of Equity-like Tokens

The article "The Inevitable Rise of Equity-Like Tokens" discusses the long-standing conflict between equity holders and token holders in crypto projects, using Uniswap's delayed fee switch implementation as a key example. It argues that neither extreme—fully eliminating equity for on-chain ownership nor abandoning tokens entirely—is optimal. Equity provides legal rights, governance control, and access to deeper capital markets, while tokens offer transparency, instant settlement, and community alignment. The piece highlights that tokenization of traditional equities is accelerating, with initiatives like the DTC pilot program and Nasdaq’s proposed tokenized securities trading. The author concludes that 2026 will be a year of innovation in equity-like tokens, merging legal protections with digital ownership, ultimately moving beyond the equity-vs-token debate toward a unified model of transparent, legally-backed digital ownership.

marsbit01/21 12:50

DTCC Is Not Tokenizing Stocks: What's Really Changing?

The article clarifies a key distinction in securities tokenization: DTCC's recent SEC approval tokenizes *security entitlements* within the existing indirect holding system, not the underlying shares themselves. This "digital twin" model modernizes the current infrastructure (e.g., enabling 24/7 settlement, reducing collateral needs) but preserves its core structure, including netting efficiency and intermediary layers. In contrast, a separate "direct ownership" model tokenizes the actual shares on a blockchain, enabling true self-custody, peer-to-peer transfers, and DeFi composability, but sacrifices the liquidity and efficiency of the centralized system. The author argues these are complementary, not competing, paths: DTCC's upgrade optimizes the existing market for institutions, while direct ownership enables new functionality for investors seeking autonomy. The real winner is investor choice, as both models will coexist, driving competition and innovation.

marsbit01/04 08:09

DTCC Is Not Tokenizing Stocks: What's Really Changing?

marsbit01/04 08:09

New Regulatory Policies Imminent, South Korean Crypto Exchanges Face Major Shakeup in Control

South Korea's Financial Services Commission (FSC) is proposing a major regulatory change that would impose a 15% to 20% cap on major shareholders' stakes in domestic cryptocurrency exchanges. The move, part of the "Virtual Asset Second Phase Legislation," aims to redefine major platforms like Upbit, Bithumb, Coinone, and Korbit as core "virtual asset infrastructure," subjecting them to stricter oversight. The FSC highlights two key issues in current exchange governance: excessive power concentration in founders or major shareholders, and disproportionate profit distribution to individuals. The proposed cap mirrors rules for traditional financial Alternative Trading Systems (ATS) and would force significant ownership restructuring. Upbit’s major shareholder holds 25.5%, Bithumb Holdings owns 73%, Coinone’s chairman holds 54%, and Korbit is majority-owned by NXC and affiliates. Compliance would require substantial divestment, potentially altering control and strategic direction. The proposal aims to institutionalize the crypto market, reduce systemic risk, and possibly pave the way for traditional financial institutions to enter. Critics argue it may stifle innovation, violate property rights, and cause management instability, potentially driving businesses to more crypto-friendly jurisdictions like Singapore or Dubai. The outcome could reshape Korea’s crypto industry, balancing financial stability with growth.

比推12/31 13:10

New Regulatory Policies Imminent, South Korean Crypto Exchanges Face Major Shakeup in Control

比推12/31 13:10

15% Equity Threshold: Governance Revolution and Capital Reshuffle in Korean Exchanges

South Korea's Financial Services Commission (FSC) has proposed a major governance overhaul for major cryptocurrency exchanges as part of its "Virtual Asset Second Phase Legislation." The plan would classify large platforms like Upbit, Bithumb, Coinone, and Korbit as "core infrastructure" and impose a strict cap on major shareholders' stakes, limiting them to between 15% and 20%. This move targets two key issues: excessive power concentration in the hands of founders or major shareholders, and the disproportionate privatization of substantial trading fee revenues. The proposal aligns exchange governance with traditional financial standards, similar to rules for Alternative Trading Systems (ATS) under the Capital Markets Act. If implemented, the four leading exchanges would face significant ownership restructuring. For instance, Upbit’s major shareholder holds 25.5%, Bithumb Holdings owns 73%, Coinone’s chairman controls 54%, and NXC holds around 60.5% of Korbit. Each would need to divest substantial stakes. The initiative aims to institutionalize the crypto market, reduce systemic risk, and potentially open doors for traditional financial institutions to enter. However, critics argue it may stifle innovation, violate property rights, cause management instability, and drive businesses to more crypto-friendly jurisdictions like Singapore or Dubai. The proposal reflects a broader effort to balance financial stability with industry growth, marking a pivotal moment in South Korea’s crypto regulatory landscape.

marsbit12/31 09:51

15% Equity Threshold: Governance Revolution and Capital Reshuffle in Korean Exchanges

marsbit12/31 09:51

Understanding Tokenization: Distinguishing the DTCC Model from the Direct Ownership Model

The article clarifies the key differences between two distinct tokenization models in the securities market: the DTCC model and the direct ownership model. The DTCC model, recently approved by the SEC, involves tokenizing "security entitlements" within the existing, multi-layered intermediary system. It creates a digital twin of these rights on a blockchain to improve operational efficiency, enable 24/7 transfers between institutions, and reduce costs, all while preserving the core benefits of the current system, such as netting and centralized liquidity. Crucially, it does not tokenize the underlying shares themselves, and ownership remains indirect. In contrast, the direct ownership model tokenizes the shares themselves, recording ownership directly on the issuer's share registry. This approach enables self-custody, peer-to-peer transfers, and full composability with on-chain DeFi applications. While this model sacrifices the efficiency of netting and leads to fragmented liquidity, it offers unprecedented functionality and disintermediation. The article concludes that these are not competing visions but complementary paths serving different needs. The DTCC model modernizes the core of the public markets for institutional scale and stability, while the direct ownership model fosters innovation at the edge. The ultimate winner is investor choice, as both paths will coexist, offering a broader market interface with more options for all participants.

marsbit12/22 12:36

Understanding Tokenization: Distinguishing the DTCC Model from the Direct Ownership Model

marsbit12/22 12:36

a16z: 11 Intersection Scenarios of AI and Cryptocurrency

The intersection of AI and crypto is reshaping the internet’s economic and structural foundations. As AI drives centralization, crypto offers decentralized, user-owned, and trust-minimized countermeasures. Key convergence areas include: 1. **Persistent Data & Context**: Blockchain enables AI to store and share user context across platforms, improving personalization and interoperability. 2. **Universal Agent Identity**: A portable, blockchain-based identity system allows AI agents to operate across ecosystems with built-in payment and reputation mechanisms. 3. **Proof of Personhood**: Decentralized identity protocols (e.g., Worldcoin) help distinguish humans from AI bots, ensuring authentic interactions. 4. **DePIN for AI**: Decentralized physical infrastructure networks democratize access to compute and energy resources for AI development. 5. **Agent-to-Agent Infrastructure**: Blockchain enables secure, interoperable interactions and payments between AI agents. 6. **Synchronizing “Vibe-Coded” Software**: Crypto provides a shared, incentivized layer to maintain compatibility across AI-generated software. 7. **Micro-Payments & Revenue Sharing**: Blockchain facilitates tiny, automated payments to content creators when AI uses their data. 8. **IP Registration & Provenance**: On-chain systems enable transparent IP ownership, licensing, and derivative use for AI-generated content. 9. **Compensated Web Crawling**: Crypto allows AI crawlers to pay websites for data access, while humans retain free access. 10. **Privacy-Preserving Ads**: Zero-knowledge proofs and micro-payments enable relevant, consensual advertising where users are compensated. 11. **User-Owned AI Companions**: Blockchain ensures users retain control and ownership over personalized AI relationships, avoiding platform dependency. Together, these intersections promise a more open, resilient, and user-centric digital future.

marsbit12/17 03:20

a16z: 11 Intersection Scenarios of AI and Cryptocurrency