@jibrelnetwork. Who holds the real asset that is represented by the digitized asset? If I digitize a Google stock, who will stop me from selling my stock and leave my digitized Google stock token not backed by anything?
The underlying mechanism for holding the asset varies widely by asset class and geography jurisdiction.
In most cases, for illiquid assets, the real asset is held by Jibrel AG (Zug, Switzerland entity) or by a licensed banking partner (who acts as a custodian).
In more nuanced cases, the underlying asset is securitized (off-chain) and the necessary legal paperwork is undertaken to securitize the underlying assets income and purchase it through Jibrel AG. Once this process is complete, the asset is tokenized on-chain.
We are building then necessary off-chain infrastructure to be able to streamline this process and get faster at turning it around. For this reason, we are engaged with PwC and are in advanced discussions with numerous banking finance partners.