Hyderabad, July 24 (KNN) The Telangana government is all set to launch an Asset Tokenization Standard Framework, which is a process of representing real-world assets, such as real estate, art or securities, as digital tokens on a blockchain.

The Asset Tokenization Standard Framework will provide a common set of rules and guidelines for the tokenization of assets. These standards will help to protect investors and consumers, besides facilitating the industry to grow and innovate.

As per reports, the framework will be developed in collaboration with industry partners, including Sino Global Capital, the World Economic Forum, C-DAC, IIIT-H, Bharat Web3 Association, Indian Blockchain Forum, Open Trade, and European Crypto Initiative.

Speaking about the government’s initiative, IT Principal Secretary Jayesh Ranjan said, “The framework will provide the much-needed clarity that businesses and investors need to adopt asset tokenization. Asset tokenization standards frameworks will benefit the inclusion of the common man by making it easier for them to participate in the global economy and access new investment opportunities.”

“It will help to create a more conducive environment for the development of asset tokenization businesses and projects in the State,” he added.  (KNN Bureau)