O que é tokenização? | com Daniel Coquieri e Felippe Percigo | 001

Hey guys! Now begins another episode of Talkenização, the Liqi podcast Your source of information to participate and find out everything about the universe of tokenization I'm Felippe Percigo, co-founder and CMO of Liqi and I'm here today with Daniel Coquieri Co-founder and CEO of Liqi Hello Felipe! Good afternoon, good morning Good evening to all listeners It's a pleasure to be here once again participating in Talkenização so we can talk a little about the market, technology, blockchain and everything we're building Awesome, guys, today we're going to talk about some topics Some of them are: what tokenization is about We're going to understand a little bit about how tokenization itself works We're also going to talk about the type of financial market, which is growing all over the world, this trend towards the tokenization of financial assets and you will leave this episode understanding what tokens are, how they work, how they generate returns and how this can be so disruptive.

And I'll start by asking Daniel a question, Daniel, what is tokenization in general, for someone who has never understood or heard this term? How could a person understand tokenization? Cool Felippe, well, what is a token?

I think we are There is a whole market starting to know and understand the best definition of what a token is We started by saying, I tell people here, even myself, that the token is a digital representation of an asset on the blockchain Basically, it is a digital representation of that physical asset or that financial instrument, or what is backing the token on the blockchain, in the digital environment But I think it goes beyond that too, Felippe It is also an interface on the blockchain We can consider that a token is an interface on the blockchain, this interface is programmed with all the rules of a financial contract, which is why even for those who have heard the expression or term smart contract, that is, smart contracts So, within a token, in the blockchain, we have the so-called smart contract and what does this mean? It is a set of rules within the token of a contract, which could be a financial contract It could be a loan contract that is programmed in there It could be a debenture, it could be a CPR contract that Liqi has already tokenized at some point we're going to talk a little more about this But at the end of the day, the token is an interface with all the information inside, in a digital environment So, this interface can also be considered a token for different agents, right Felippe, different. .

. companies or agents can communicate through this blockchain interface called a token, so. .

. Cool! And it's also right for us to say that the token represents a physical asset in small parts, because you can divide this asset in the digital sphere and one of the things that we see a lot of people asking is, but what can be tokenized?

Can a real estate project be tokenized? Can we tokenize, as you said, debentures, debts? What can be tokenized?

Can we take an example, for example, perhaps a real estate project or a debt, or a receivable So that the person understands what that would be like? Of course it's worth a point here, so it doesn't necessarily have to be a physical asset to for it to be represented by a token on the blockchain we can here, as Liqi has already tokenized a CPR, which is a for those who don't know what a CPR is for those who don't know what a CPR is, it's a banknote rural producer is a financial instrument, that is, it is not a physical asset, and Liqi tokenized this financial instrument within the blockchain through a token But it could also be, which I think is the example that we hear or read most, that the market even uses it as an example of fact, which is tokenizing a physical asset, a building, a property, you can represent that property in a digital environment and divide it into small pieces and distribute that illiquid asset, which is a property, Let's give an example here A property worth R$ 1,000,000. 00, an apartment worth 1 million of reais Felippe to buy or to participate in this asset, he would have to buy 1 million reais today, contribute 1 million reais and own that property.

One of the examples that we hear a lot is imagine if I could represent this property on the blockchain, in a digital environment, in thousands of tokens and Felippe can buy 1% of this piece of furniture through these tokens and he owns, in quotes, 1% of this property and here I am trying to give an example of why Felippe would do this basically We have some options, if the property today is worth 1 million and tomorrow it appreciates in value, Felippe will have a financial gain of over 1%, which is what the tokens that Felippe owns represent, or if the property is rented and passes generating rental income, Felippe will have 1% of this rent, as it is good to remember, Felippe. Costs should also be considered for those who have 1% of the property, be it condominium, tax, right? the good side Well, I bought 1% of that property now if it increases in value I will make a profit, but also in an operation like this, of a property You have to look at the whole context I even had a meeting this week for a real estate tokenization project and We discussed this part of governance a lot If a property has been divided into thousands or hundreds of owners, there must be governance to discuss what to do with the property and how to manage this property.

So it has its challenges too It's not just about tokenizing and running for the hug Yes, I agree There are still many challenges and many paths that we will end up finding in this market, especially because there is that phrase, right, everything can be tokenized, but not everything should be tokenized, often the challenge of having a tokenized property is much superior to what you can get through normal means. And one of the things that we receive a lot of, even in Liqi's own email and everything. How does this work in practice?

For example, Felippe wants to tokenize something we mentioned here about debt, something I have a receivable from a rental that I have, for example, in a property, how would I go about tokenizing this? Do I have to contact someone ? Do I have to value the asset?

Do I have to create the token? What would these processes be? Because many people ask: how do I tokenize?

It's worth tokenizing this or that, right? Even so that the person listening to this can know Oh, I think I can tokenize that Or if they've already had an idea of ​​tokenizing something, they already understand whether it makes sense or not I think so, there are some examples that tokenization It delivers a lot of value to the process as a whole, from that asset and some others. We will always have this discussion.

Is it worth it, does it make sense? What are the other challenges besides turning it into a token? But it all starts with tokenization Obviously, the identification of the asset, if this asset makes sense for us to tokenize Anyway, it makes sense from a market point of view, right Felippe, in other words, Why am I going to tokenize this asset?

but once it makes sense, then let's take this clear example that you gave of receivables, right? So, the process itself is You identify the asset, then there is a layer here in the process which is the legal structuring. We have to remember that the token is a digital representation It is a digital asset, but it has to have legal value It has to, in case of any dispute there, in the sense of problems, let's say, the token has to have a legal validity for the holder of the token of that asset So everything arises from a legal structure How do you make the token have legal validity before the law, before the Judiciary?

So you have a contract, a legal instrument that determines some rules of the asset and also determines the assignment of the right that is being tokenized to the token, right, there is an assignment of that right of the asset being transferred to those thousands of tokens. So here's the part of the legal structuring, the next step is the issuance of the token itself Choosing which blockchain makes the most sense for that operation Today there are a few dozen good blockchain projects that we can choose from, Liqi works with four blockchains today, But it's about choosing the blockchain , the token is issued, that is actually where the token is born and then after it is tokenized, there are other challenges, which is how are you going to distribute this token? How are you going to do the settlement part of this token?

There are more steps here, but giving a general overview, these are the macro processes of tokenization Wow, how cool! and Daniel, one of the things that maybe people have doubts about Why buy a token? Why invest in a tokenized asset?

Or, why tokenize? Even I'll start by answering one of the first questions I asked. The owner of the asset that tokenizes I think the main advantage he has today is ease of liquidity, that is, he can take an asset that before , perhaps the liquidity was small, because it cannot offer this to anyone or any financial institution and through the tokenization process it manages to bring more liquidity to that asset that was, as you even mentioned, illiquid which has a very reduced liquidity or even no liquidity at all .

liquidity issue, what other advantages would investors have? What could they envision as, oh my, is an opportunity to invest in tokenized assets? Okay, well, I think we are going through a transformation in the world as a whole, and the financial market is being transformed by technology, that is, several industries have already been transformed.

The vehicle industry with electric cars and the financial market This wave of blockchain, tokenization, cryptocurrencies is coming, although the subject here is not necessarily about cryptocurrencies. But it's worth remembering, right, Felippe? that cryptocurrency is nothing more than a token also what will change is the ballast that is behind that cryptoactive I think that the world will increasingly consume products in a different way, in a much more direct way Today in many of the products financial institutions, you have a series of intermediaries in the middle of which the end investor does not get a good return because there are a lot of people spreading money, that is, putting a difference between the price of the asset until it reaches the investor's end.

There are a lot of people who put the their margins, their fees, and then they end up earning much more than the investor who actually has money and the owner of the asset, which is also another main role that is the owner of the asset, he also loses, because he also has to pay these fees for a lot of people here in the chain Another value of tokenization is disintermediation When you tokenize an asset, besides being very well said by you, there is the issue of liquidity, of being able to bring more liquidity to that asset and why more liquidity, right? Felippe, because you can fractionate it to the point that Daniel with R$50 can buy this asset with R$15 you can access and here comes a little of what we talk about, democratizing access to these assets in a very big way and using the scale of technology, Liqi has two very clear examples in this matter of scale. We launched a token for ten investors in an offer of R$ 66,000.

00 if I'm not mistaken and launched a token for almost 1600 investors in an offer of almost R$2 million The technology is the same, the scale is the same, the operational cost is the same So with this you have an absurd value, because you are taking out intermediaries to the point that you can tokenize a low-value asset or tokenize a high-value asset and the cost is the same. Today you look at the financial market, generally the intermediaries will get you charging different rates because they don't have as much scale in their operations, many of the small operations the financial market doesn't even do. So, you have this advantage of scalability, democratization, disintermediation.

So this, at the end of the day, is good for the investor and it's good for the issuer, the owner of the asset has fewer people biting there The investor ends up having better returns and the issuer ends up having access to cheaper capital So, these are some of the very clear values ​​that we see today in the tokenization process and there are a few more years, right, I know that we have enough episodes to record various topics, if we let it go we end up talking about everything in a single episode So I believe we could summarize What tokenization is as ease, as agility, more liquidity , different financial products, democratization We can summarize tokenization in countless characteristics here I believe You ended up giving your opinion on tokenization, and I completely agree I think it is the future of the market Even we have seen many movements around the world in relation to what people are seeing, what banks, what big players are looking at this market and you can see that they look at it very favorably. And for those who have just arrived and don't know us, Daniel, who is he? to Liqi?

the podcast is by Liqi, and who is Liqi, in a way? Why was the company created? What are our objectives?

What do we do? Okay, let's go, well, Liqi is a platform. Liqi has some products, let's take it easy, otherwise we'll end up confusing the whole group.

Liqi has a product that is a token exchange, which is itself, which is Liqi. com. br itself, where we distribute the tokens and the investor enters there, creates an account and can invest in these products through tokenization.

Liqi has another product, which is what we call tokens here. a service that we are talking about infrastructure, which is the part where it issues the token, holds the token, the transfers and also the question of where the issuer will distribute this token, whether it will be on the Liqi exchange, whether it will be on the Liqi exchange and on other exchanges too Remembering again that the token has, I won't say the same technology, but the blockchain technology is similar to that of bitcoin, that of ethereum, that of cryptoassets. So when we issue a token of a receivable, from a rental contract, from a property, this token can be traded on crypto brokerages as well.

So, Liqi Token as a Service, it is kind of the issuance, management and custody part of the token, it is a product The other is Liqi Bolsa, which is where we sell and distribute the tokens And these tokens can also be distributed on other cryptoactive exchanges So we have these two products and our mission, right Felippe, is to build a bridge I think the our desire here, that's why we are bringing together so many good people here together with the team. We want to build a bridge between the traditional financial market, the traditional financial products that are distributed, that are originated and structured in a way for 20 years, 30 years, practically the same We are wanting to rebuild and create a bridge between this market and the blockchain market, with the crypto market. So I think this is our mission as a company Let's go We are accelerating, right?

We are accelerating, and I know, guys, it can often seem like the subject is difficult. I know the subject is new too, but it's not as difficult as it seems. When you start to study a little more, hear a little more of the terms, it becomes easier, even for That's what in the next episodes We are going to delve a little deeper into each of these subjects that we brought here the question of how to decentralize how this issue of issuing tokens works, legal security, so that everyone who is listening to the podcast can learn more about the topic And I would also like to thank everyone who stayed here until the end, tokenization is already really changing the world in a certain way and, guys, for anyone who wants to know more about tokenization, visit the Liqi website, it's liqi.

com. br we there is an area of ​​Descompliqi that explains a lot about the types of tokens that we have and people can also access our blog, it has slightly shorter content, more informative things for all those who want to delve a little deeper, understand what is this new trend in the financial market, I leave the invitation here, so I thank everyone who stayed here until the end and we'll see you in the next episodes Thanks Felippe and thank you guys, a hug!