Chinese companies are tokenizing rare Huanghuali trees and other commodities in an effort to address liquidity issues facing various industries.
Digital Tokens For Scarce Resources
Firms located on Hainan, a tropical island in China, are capturing images of Huanghuali trees, a scarce species of rosewood, to transform them into digital assets, as reported by Reuters.
Zhao Xiaobao, the Hainan representative for Geely Technology Group, a subsidiary of Chinese automaker Geely Automobile Holdings (OTC:GELYF), expressed that converting the Huanghuali into tradeable tokens could infuse much-needed capital into industries grappling with cash …Full story available on Benzinga.com
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