What are #RWAs, why #GRWA, and what is the market size and scope?
Real-world assets undergoing an innovation shift in ownership and trading find a transformative ally in #Web3. The tokenization of physical assets becomes more mature, offering transparency and fractional ownership. Real-World Asset (#RWA) tokenization presents a trillion-dollar market opportunity, showcasing blockchain’s potential in nearly all economic activities. The future of finance leans towards on-chain operations, with interpolable blockchains supporting trillions of dollars in tokenized #RWAs.
Real World Assets (#RWA) are now being combined with #Web3 infrastructure, which is gaining popularity. According to a report by the Boston Consulting Group, the on-chain #RWA market is expected to grow to between $4 trillion and $16 trillion by 2030. The #RWA market is vast and encompasses infrastructure assets. The market size of #RWAs in Decentralized Finance (#DeFi) is estimated to be around $2.3 billion in 2021, which is only a fraction of the reported $126 trillion global assets. However, it is expected to increase significantly as more #RWAs are tokenized on the blockchain.
Why would green real world assets have a major effect on the world economy?
Empowering Tomorrow: Unleashing a Trillion-Dollar Economy in Green Real-World Assets through the Acceleration of Renewable Energy Transition
In recent years, there has been a growing awareness of the impact of fossil energy sources on the environment. As a result, people are now looking for alternatives that are more sustainable and have a positive impact on the planet. Fortunately, many options, such as geothermal and renewable energy sources, can provide a steady supply of energy without causing harm to the environment. This shift towards more sustainable energy sources is a positive step towards a more sustainable future for everyone.
Accelerating the transition to a renewables-based energy system represents a unique opportunity to meet climate goals while fueling economic growth, creating new opportunities, and enhancing human welfare. The global renewable energy market was worth around USD 0.90 trillion in 2022 and will be worth USD 2.06 trillion by 2032, at a CAGR of 8.6% from 2023 to 2032.
The increase in green and renewable energy in the market, replacing traditional energies, gives the green infrastructure an exponential value that unlocks the potential to create a trillion-dollar economy in green real-world assets (#GRWA).
- The green energy market is worth $1T, predicted to reach $2.4T by 2032
- The renewable energy market is also set to grow, reaching $2.06T by 2032: Government initiatives are driving the industry's expansion.
Conclusion
The coexistence and simultaneous development of nature and technology will create a massive market for trillions of dollars worth of real-world assets, especially green ones. By tokenizing these green assets, their potential can be fully realized, and #Web3 can sustainably transform the global economy. These innovative approaches have many applications and almost endless possibilities.
About Phyken Network
Phyken Network is a Layer 1 app-chain and DeFi protocol on Polkadot, building an RWA asset fractionalization protocol, particularly emphasizing #GRWA: renewable energies and solar power on the blockchain — Secured by Polkadot.
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Written by: https://medium.com/@rjkesavchandar
