TMCnet News
RACE Unveils Decentralized Infrastructure for Tokenizing Real-World Assets, Initiates Testnet PhaseRACE, the first full-stack blockchain-based platform designed specifically for the tokenization of investable assets, announced the launch of its testnet on the heels of a $5m raise. A digital infrastructure ecosystem designed for accredited and institutional investors, RACE's technological infrastructure enables global investors to access assets like aircraft, real estate, and private credit as well as collectors' items such as art, jewelry, and gold. Historically, the high-value asset investment landscape has been fraught with barriers: geographical limitations, opaque transactions, and many opportunities only accessible to the ultra-wealthy. The RACE ecosystem will address these challenges, leveraging blockchain technology to provide transparency, security, provenance, and unprecedented access to the global investment community. After five years of designing and building, RACE will launch as the only Layer 2 blockchain designed specifically for tokenizing real-world assets, and making them accessible to all in a compliant way, including through a user-friendly wallet designed for seamless onboarding. Central to RACE's ecosystem is how it will build Decentralized Investment Committees (DICs) into its design. These will be groups of industry experts from diverse fields, such as underwriting, legal services, asset custodianship, and financial analysis. The DIC's primary role is to conduct thorough due diligence of all potential opportunities before they are tokenized and made available on its infrastructure platform. This rigorous vetting process includes assessing the viability, compliance, and value of each asset, ensuring that only those meeting the stringent standards for investment are approved. This selection mechanism is intended to enable experts from the RACE community to diligence the reliability and credibility of investment offerings on the platform, upholding a ecure and trustworthy environment for investors. "We have spent years building this tech stack to connect investors with the most high-end assets in the global market," said Miguel Buffara, Lead Finance Engineer at RACE. "By empowering clientele to invest in assets from around the globe, tokenized on chain, RACE is kicking off a new era of growth in developing markets by enabling liquidity to move around the globe and boost international economic development." Through its innovative governance infrastructure - designed to ensure users are compliant with local laws based on their geographic location - RACE intends to unleash a novel and highly accessible investment experience into the global marketplace. "RACE was designed with a focus on the user, ensuring they have the flexibility to tailor their experience to their preferences," Krisanth Sivarajh, Director of Project Management at RACE, highlighted. "Our aim was to create infrastructure that can evolve to make each investment journey uniquely personal and highly efficient." The RACE Smart Wallet streamlines the investment process with key features: a seamless experience for hassle-free access, gas abstraction to pay fees in any currency, and batch transactions for combining operations like approvals and swaps in a single step. These innovations ensure secure, efficient interactions with tokenized assets, broadening accessibility for global investors. RACE's vision is to remove the barriers investors around the world currently face. The platform aims to create a universally accessible marketplace, expanding opportunities for investors worldwide. With innovative technologies and a community-driven approach, RACE aims to change how high-value assets are traded and managed. To learn more about RACE, please visit https://raceecosystem.com and follow us on Twitter at @RACEecosystem. To learn more about RACE's Foundation, please visit https://race.foundation. ABOUT RACE RACE is a layer two protocol designed to serve as the first truly global tokenized marketplace. Governed by its users, the platform was built with the end user in mind with everything from interoperable wallets and decentralized investment committees built into the structure. Vetted assets from real estate to fine art can be tokenized and listed on the platform, democratizing access to historically inaccessible assets.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240319268593/en/ |
