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  • Writer's pictureDanny J. C.

CryptoKitties and Institutionalization

Tokenization—, the creation of natively digital tokenized representations of traditional (and emerging) assets, that are issued, traded, and managed on a blockchain— can increase liquidity, increase transparency throughout the asset lifecycle, reduce friction and overhead costs associated with the issuance, transfer, and management of traditional assets such as securities, commodities, and real estate assets. Crypto assets that are digitalized/ tokenized versions of traditional assets could also fit well within existing regulatory frameworks.

CryptoKitties and Intellectual Property

CryptoKitties, the blockchain-based collectible cat avatar game can be seen as a visual representation of data stored on the Ethereum blockchain. "Cats" are actually strings of data that the CryptoKitties platform interprets and presents visually with the corresponding proprietary cat artwork. The underlying data can be manipulated to form new, unique strings of data in a process known as "breeding," leading to about 4 billion possible unique variations of cats. Hence, each cat is unique.

Blockchain technology's societal adoption, ownership and IP rights made-easy.

International Patent Filings on Blockchain, DLT, or Virtual Currencies since 2005

Incorruptible Record Keeping (IRK)

Blockchain, a decentralized, incorruptible database that allows peers to conduct transactions without relinquishing control to an intermediary or accepting counterparty risk.

Blockchain Hype Turns to Mainstream Adoption

40% of senior finance executives expect their firms to invest in Blockchain (Distributed Ledger Technology) over the next two years, and additionally 23% reported their firms have already implemented the technology (2019 CFO Survey of senior finance executives in companies with revenues between $100 million to $20 billion).

Sources: Chamber of Digital Commerce, Grant Thornton LLP, IWS FinTech


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