Property
An apartment building is split into many shares. Investors receive their share of the rental income.
CheckLand register, valuation, management
[34.6937° N, 135.5023° E]
大阪 ŌSAKA · DŌJIMA
FIG. 06
SCALE 1:20
米俵KOMEDAWARARice bale. The real-world value.
米切手KOME KITTERice certificate. Stands for the bale and trades like a token.
The path / Station 05
[05 / 06] 価値 KACHI · VALUE
Real valuebecomes divisible
How a property, a gold bar or a receivable turns into digital shares, and what you need to understand before you get involved.
From history
A certificate instead of a sack of rice
In Edo-period Japan, rice is more than food: it’s the yardstick for wealth and taxes. In Osaka, the feudal domains store their harvests in warehouses. But nobody trades the heavy bales themselves. They trade rice certificates, each one a claim to a set amount of rice.
In 1730, the shogunate officially recognises the Dōjima rice market. Traders deal not only in rice already in store but also in future deliveries, making it one of the world’s first organised futures markets.
教訓 Lesson
Value becomes tradable when a reliable piece of paper, or today a token, stands behind it.
米切手
米壱俵
堂島
- 米切手KOME KITTERice certificate: a claim to stored rice
- 米壱俵KOME IPPYŌ“Rice, one bale”: the amount it guarantees
- 堂島DŌJIMAMarketplace in Osaka
Lesson 05.2
Four links in a chain
Tokenisation means the rights to a real-world asset are represented as digital units on a blockchain. In between there’s almost always a legal wrapper that makes sure the token really does represent a claim.
- [A]資産SHISAN
Real-world asset
Property, gold, artwork or a receivable, checked and valued.
- [B]法人HŌJIN
Legal wrapper
Often a dedicated company that holds the asset and governs the rights.
- [C]契約KEIYAKU
Smart contract
Creates the tokens and sets out who may hold and transfer them.
- [D]財布SAIFU
Wallets
The tokens sit in investors’ wallets, with every booking traceable.
Remember
The token isn’t the value itself but a digital claim to it. How good that claim is depends on the legal wrapper, not on the technology.
Experiment
From asset to token
Commodities & gold
Each token stands for a set amount of physically stored gold.
CheckStorage, audit reports, redemption
Art & collectibles
One work belongs to many people, yet it’s still only on display in one place.
CheckAuthenticity, insurance, sale rules
Receivables
Invoices, loans or bonds become tradable as tokens.
CheckDebtor, term, default risk
Opportunities
- [+]DivisibilityEven small amounts get access to large assets.
- [+]TransferabilityShares change hands faster, around the clock.
- [+]TransparencyEvery transfer can be traced on the blockchain.
- [+]ProgrammabilityPayouts and rules run automatically.
Risks
- [−]Law & regulationWhether a token is a security is decided by the law, not the technology.
- [−]The asset itselfIf the property’s price falls, so does the token.
- [−]CustodySomeone has to keep the real-world asset safe.
- [−]LiquidityTradable doesn’t mean there’s always a buyer.
What we offer · New
Guidance from idea to issuance
Together we check whether and how your asset can be tokenised, bring the right experts to the table and build the technology.
| Phase | Service | Outcome |
|---|---|---|
| [01] | FeasibilityClarify asset, ownership, goal and target group | Short report with recommendation |
| [02] | StructureLegal wrapper with lawyers of your choice | Structure concept |
| [03] | Token designStandard, rules, smart contract, security audit | Audited contract |
| [04] | IssuanceInvestor onboarding incl. KYC, distribution | Tokens in the wallets |
| [05] | OperationsManagement, payouts, reporting | Ongoing support |
Is tokenisation allowed in Switzerland?
Yes, there’s a legal framework. Whether a particular token counts as a security, and which licences are needed, is something every project clarifies with specialist lawyers.
Which assets are suitable?
Assets with clear ownership, a reliable valuation and a good reason why being divisible or tradable brings an advantage.
Do I need my own blockchain?
As a rule, no. Most projects use existing blockchains such as Ethereum or Polygon and their token standards.
What does an RWA project cost?
That depends on the asset, the structure and the legal work involved. In the free first consultation, we’ll estimate the scope together.
Do you recommend particular RWA tokens?
No. We share knowledge and guide projects, but we don’t make buy recommendations.
Wrap-up
Station 05 complete
You now know how real-world value turns into digital shares, and what really matters.
試験 SHIKEN · Quiz · 3 questions
Three short questions on station 05. Get them all right and the station is complete – then you move on.
[1/3]What is a real world asset token?
[2/3]What does tokenisation change about an asset?
[3/3]What decides whether a token represents an enforceable claim?
済
Passed! Station 05 is marked as complete on your path map.
The door is open
Get to know us in a free intro call. We listen, put things in context and show you the next step – without any buy recommendation.
Intro call →