What do you do if you want to become an expert in tokenization on the Blockchain?

To begin with, it's essential to dive into studying the fundamental technologies used for tokenization. For instance, this could include blockchain, its consensus algorithm, the order of transaction execution, how smart contracts are processed on it, and so on. All of this will ultimately provide you with a solid understanding of the subject.

There are two main types: Fungible tokens and non-fungible tokens. Fungible tokens are like money; each unit is the same as the next, so they can be swapped easily. Coins, like Bitcoin, are examples of fungible tokens While, NFTs are special and different from each other. Think of them like collectible items; each one is unique and can't be replaced by another. They're often used for digital art or items in games When making these tokens, there are rules called standards. For fungible tokens, the standard is ERC-20, and for NFTs, it's ERC-721. These standards are important because they make sure tokens work well on the Ethereum blockchain. Understanding these rules helps people create tokens that can be used everywhere on the blockchain

One of the key components in tokenization is token standards. These vary depending on the blockchain; for example, in EVM blockchains, common standards are ERC-20 and ERC-721, while in the Solana blockchain, it’s the SPL Token. Token standards define a specific interface for interacting with tokens, ensuring their compatibility across different applications. It's important to note that token standards do not include security rules for your smart contract.

A token is a digital representation of an asset on a blockchain. In the token economy, blockchain technology enables decentralised ownership and transactions without a central authority. Smart contracts automate value exchanges, ensuring ownership transfer once predefined conditions are met. This system allows for instant and seamless transactions, facilitated by digital tokens representing assets or currencies. By eliminating the need for post-trade settlement, blockchain enables real-time value transfer, supported by native digital currencies like stablecoins or cryptocurrencies. Here are some examples of tokens: utility, security, non-fungible, payment or governance tokes. But there are much more.

It's really important to know the laws about digital assets, like tokens. Sometimes, when you make tokens, they can be seen as securities, which are like investments. Different places have different laws for this. In the United States, there's something called the Howey Test. It helps figure out if something is an investment that needs to follow certain rules. It's also super important to keep up with new rules and advice about how to make tokens the right way. This helps make sure that you're not breaking any laws when you create or use tokens.

With the rise of tokenization and decentralised finance (DeFi), legal aspects surrounding digital assets have become increasingly complex. European web3 companies must grapple with regulations such as DORA, DLT PILOT REGIME, eIDAS 2.0, GDPR, and MICA, which govern data protection, digital identity, and the issuance of tokens. Ensuring compliance with these regulations requires a deep understanding of their implications and staying updated on regulatory changes. Although, it seems a huge opportunity for any web3 startup. Despite these hurdles, companies that prioritise legal compliance can foster trust and credibility in the Web3 ecosystem while mitigating regulatory risks. Be patient.

To develop an ERC-20 or ERC-721 token for the Ethereum blockchain, you will need the following technologies: Solidity, a programming language for smart contracts; Development environments such as Foundry, Hardhat, or Truffle are commonly used; Block explorers, which allow you to verify transactions and interact with smart contracts.

Attend various events or hackathons where you can meet new people working in the same field and learn something new about different technologies. This will help you improve your understanding of the entire tokenization process.

I believe the most effective way to build my network in the Web3 space is by creating content that showcases my expertise in blockchain, real estate, technology, and startups. I do this three times a week on LinkedIn. It helps to clarify my knowledge and to craft my name between the people that brings some vision and ideias. By actively sharing my knowledge I can ignite vibrant and diverse energy within the community. Attending trade fairs, meetups and staying abreast of startup and tech events are all crucial steps in this journey. Moreover, my role as a tech founder adds credibility to my contributions and enhances my standing within the community.

As you embark on your journey in the blockchain industry, remember that learning is a continuous process. Each day presents new opportunities to expand your knowledge and skills. Embrace every challenge with curiosity and enthusiasm, and don't hesitate to seek guidance from mentors and peers along the way. By staying committed to your growth and reflecting on your experiences, you'll not only excel in your internship but also lay a solid foundation for a successful career in blockchain. Keep pushing boundaries, stay open to new ideas, and never stop striving for excellence. Join a startup. It is the best and faster way to learn faster and to learn from the best.

Since blockchain technology, which powers tokenization, is relatively new and rapidly evolving, it's essential to continuously study and keep up with new advancements. Stay updated on new token standards and libraries that can help accelerate the tokenization development process.

Experiment with technologies; you can develop your own solutions or smart contracts that you believe improve certain token standards. You can then publish your work in open access on platforms like GitHub, where other developers can review your code and contribute to the development. This will help you become a better specialist in this field and contribute to its overall improvement.