TOKO, a new coding platform targeting “high value assets” as a proof-of-concept for coding a work of art, has been launched.

The platform is the result of a collaboration between the international law firm DLA Piper, which operates in over 40 countries, Aldersgate DLS and Hedera Hashgraph. While it has the potential to work across all asset classes, the team has identified the best use case for “valuable assets in alternative asset classes such as real estate and art.”

TOKO will initially operate in markets where there are clear asset coding rules such as “UK, Singapore, Switzerland, USA, Canada and possibly Australia”, but the team is “currently investigating local restrictions and regulations” in other promising markets and pursues goals. “Present this presentation anyway” for all our clients. ”

On the first day of launch, TOKO completed the first encoding of a stunning piece of art commissioned and purchased by DLA Piper’s group of partners in Hong Kong.

Scott Thiel, partner at DLA Piper Technology, said the platform is the culmination of “years of research and development” on “the legal issues involved in the creation and collection of security tokens.” He pointed out the difficulties that platforms are currently facing in delivering such offers on a large scale.

A DLA Piper spokesman said that TOKO “can reduce the risk of fraud through strict time stamped audit trails generated through blockchain functionality” and that “tokens also provide an exit option.”

“Our clients are tech-savvy and smart-contract-savvy, and they see the benefits that a token can bring in terms of the trust and efficiency it can create by segmenting assets.”
DLA Piper also hired the BCW Group as a program manager to shape the go-to-market strategy and infrastructure partnership with Regtech and Luther Systems, which acts as a system integrator for TOKO.

In February 2019, DLA Piper launched a blockchain and digital asset practice to help companies wishing to implement blockchain. Last week, DLA CFO Martin Bartlam and DLA Piper partner Marina Trullino suggested that the digital asset industry has become a major driver for global financial markets.

The real estate market was launched in September, offering clients in the United States with coding, which gives them the opportunity to invest in an asset class for $ 5,000.

Source: CoinTelegraph