RFT (damn, I just got used to NFT)! LOL But really this news is bigger than my subject title. You beg you to read the whole thing below. The most important paragraphs below are the one in bold letters. But I think the writing is non-technical enough that you can easily absorb the whole email.
NFTs (Non-Fungible Tokens) were introduce as a standard to create unique digital coins that represented real world objects. This was great as long as full ownership was only one person. Shared ownership was not possible. Full payment is required before the NFT is sent and full ownership transferred.
Thus RFTs (Re-Fungible Tokens) were born. These allow 2 people to each have 50% ownership in one NFT! This link describes the new protocol (maybe technical). https://github.com/ethereum/EIPs/issues/1634
These RFTs allow 2 people to each have 50% ownership in one asset. A very real world situation.
XPRT (persistence) my new darling of cryptocurrencies. Is using it on their Comdex platform. Comdex is their digital version of the current real world commodities exchanges platform in Chicago.
XPRT is using RFTs to validate real world transaction on Cosmos network using the tindermint code.
XPRT’s role in this has been to create the digital Comdex platform for traders and any 2 trading parties to use.
This means blockchain validators on cosmos can now validating real world commodities transactions. Most importantly these are real time transactions. Where the chicago exchange is a 2–3 day settlement transaction. Gee who wins?
Fast, efficient, transparent, immutable, and un-censorable.
Blockchain is proving it’s real world value without bitcoin. This launches/releases a whole new niche of value.
For example the real estate world is filled with example of where a property has multiple owners sharing ownership of one property. Liens, mortgages, loans all contribute to banks, debtors and creditors all sharing a percentage one the property. Before for placing real estate properties on the blockchain for sale was not possible because we could replicate the shared ownership. Nor the monthly shift in percentages as payments are made.
Now do you see the value being unlocked? XPRT may not reap all of that value but being at the center of the beginning will likely make them a winner.