The Standard Tokenization Protocol (STPT) is attracting attention with its claims of allowing anybody to tokenize anything.
In fact, Coimarketcap estimated STPT was the fourth most trending cryptocurrency on 20 April 2021. Conversely, Coinmarketap estimates the Standard Tokenization Protocol token was the 450th largest cryptocurrency on 21 April 2021.
The Standard Tokenization Protocol platform allows users to create a stablecoin that locks up the collateral of an asset on the Polkadot blockchain. A stablecoin is a cryptocurrency that contains a digital robot that disperses or transfers an asset when you spend the cryptocurrency.
What is the Standard Tokenization Protocol?
I think the Standard Tokenization Protocol could attain enormous value because stablecoins are hot.
For example, the Tether (USDT) stablecoin was the fifth most valuable cryptocurrency on 21 April 2021. Coinmarketcap estimates Tether had a Market Capitalization of $49.051 billion and a 24-Hour Market Volume of $130.141 billion on that day.
The USDT is popular because it allows users to transfer US Dollars in the Ethereum (ETH) blockchain. US Dollars are the world’s reserve currency and the most popular fiat currency.
What Capabilities does the Standard Tokenization Protocol have?
In theory, the Standard Tokenization Protocol could allow anybody to create something like Tether.
The potential uses of STP go far beyond stablecoins. For example, you could use the Standard Tokenization Protocol to create a stablecoin that locks in a corporate bond or a stock. A company could use the STP to tokenize its stock, for instance.
An investment bank could use the STP to tokenize equity in companies, or corporate bonds, for example. The bank could also use the STP to tokenize commodities; such as gold or silver. Plus, an oil company could use STP to tokenize oil.
However, anybody else could use STP to tokenize any asset. For instance, an artist could use STP to tokenize her art.
What Value Could the Standard Tokenization Protocol Attain?
I think the Standard Tokenization Protocol could attain enormous value because stablecoins are hot.
For example, the Tether (USDT) stablecoin was the fifth most valuable cryptocurrency on 21 April 2021. Coinmarketcap estimates Tether had a Market Capitalization of $49.051 billion and a 24-Hour Market Volume of $130.141 billion on that day.
The USDT is popular because it allows users to transfer US Dollars in the Ethereum (ETH) blockchain. US Dollars are the world’s reserve currency and the most popular fiat currency.
What Capabilities does the Standard Tokenization Protocol have?
In theory, the Standard Tokenization Protocol could allow anybody to create something like Tether.
The potential uses of STP go far beyond stablecoins. For example, you could use the Standard Tokenization Protocol to create a stablecoin that locks in a corporate bond or a stock. A company could use the STP to tokenize its stock, for instance.
An investment bank could use the STP to tokenize equity in companies, or corporate bonds, for example. The bank could also use the STP to tokenize commodities; such as gold or silver. Plus, an oil company could use STP to tokenize oil.
However, anybody else could use STP to tokenize any asset. For instance, an artist could use STP to tokenize her art.
Is the Standard Tokenization Protocol (STPT) a good cryptocurrency?
Mr. Market shows some interest in the Standard Tokenization Protocol (STPT). For example, he paid a 8.197¢ Coin Price for STPT on 21 April 2021.
Coinmarketcap gave the Standard Tokenization Protocol a Market Capitalization of $84.033 million, a Fully Diluted Market Cap of $159 million, and a 24-Hour Market Volume of $45.010 million on 21 April 2021.
They based those numbers on a Circulating Supply of 1.025 billion STPT. There was a Total Supply of 1.942 billion STPT on 21 April 2021.
Thus there is powerful interest in STPT. Notably, Standard Tokenization Protocol has attracted some impressive partners. Those partners include NBC, FBG Capital, Block VC, Alphabit, and the AlphaCoin Fund.
Standard Tokenization Protocol (STPT)
In the final analysis, I think the Standard Tokenization Protocol (STPT) could be a good speculative cryptocurrency. I think the STPT could obtain enormous values if the claims about the Protocol’s capabilities are true.
I think STPT could obtain a high Coin Price if ordinary people could really build stablecoins with. Conversely, I think the STPT will be worthless if its developers cannot deliver Cross-chain tokenization.
Therefore, the Standard Tokenization Protocol (STPT) is a cryptocurrency speculators need to watch. If the claims about it are true, STPT could make tokenization the next big thing in cryptocurrency.
Originally published at https://marketmadhouse.com on April 21, 2021.
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