With many books available that tell what blockchain is, so far surprisingly few, if any, deal with tokenization, currently the hottest subject in blockchain. Max Kops, the author of two bestsellers on blockchain, has just written a new book, ‘Assets on Blockchain’, a must read to anybody engaged or interested in tokenization of assets. In the interview below Mr Kops, a prominent speaker and a consultant to numerous security token offerings, reveals to Digital Asset Live Editor-in-Chief secrets of successful writing on blockchain related topics, as well as his views on tokenization of assets now and in the future:
Q1: I am also considering to publish a book, to be called ‘Blockchain People’, with these interviews that I do for Digital Asset Live. How to approach publishing such a book, what would be your advice? What was your experience?
A1: Most important for me is to meet people where they are and take them on a trip to the next place. You might have a well-researched book, but if it does not meet the knowledge, perspective and interest of your readers, it only provides a little value.
For Assets on Blockchain, I started with the question about what people think and what they know when they first hear about STOs and asset tokenization. Many of them e.g. are startups or people from the financial industry that want to understand it.
Therefore, it was important to not only cover the technical implementation of tokens, but also the legal considerations and how they fit into startup fundings or classical financial instruments. Starting with the reader helps you a lot to tailor your book to your readers.
Q2: Did you find a publisher or did a publisher find you? Or was it a self publishing project? How did it go?
A2: There is a huge demand for resources that simplify the field of security tokenization – hence, publishing the book was a logical consequence. Publishing it by myself, ‘Assets on Blockchain’ can provide the latest and best hands-on knowledge.
Q3: I promise not to ask the “what was your inspiration question”, it is obvious, you are a prominent public speaker on blockchain. I do presentations as well, mostly to professionals in areas outside blockchain. How do you explain what blockchain is to people are not blockchain-aware?
A3: That is one of the most interesting aspects: Breaking down the technology to a level at which it is understandable for everybody. I usually refer to analogies that people are familiar with. For example, I am explaining the difference between different tokens with cinema tickets.
People do not only want to know what the Blockchain is, but also why we need it.
Q4: Not to give anything out, what are the main areas you cover in your book?
A4: The book focuses on all the different aspects that surround the tokenization of assets and securities – as the name indicates, it shows people how to put Assets on the Blockchain while covering the legal, economic and technical requirements.
Q5: What do you hope to achieve with this book? What will the reader of your book, be able to do, once she or he reads it?
A5: Assets on Blockchain reveals many secrets and information that Advisors kept for themselves and projects paid thousands of dollars for. Now, this information is available for everybody for just 25 bucks. I believe that Advisors should focus on the real challenges and not on the repetitive work.
Having the book allows me to execute faster, better and more efficient with my clients because the basic knowledge is publicly available and I can invest my time into getting results instead of explaining the same things.
Q6: Startups in our Accelerator program are able to focus on their product and understanding the STO process that the book depicts in a short time.
A6: The reader learns what security tokens and STOs are and, throughout the book, dives deeper into the topic so that he can then evaluate specific endeavors and knows how to practically get started.
Q7: I am interested to get your assessment where we are now in summer 2019 with tokenization projects?
A7: The projects are ramping up, security tokens gain popularity and awareness within a wider audience. Many different providers are launching services to support the issuance of security tokens. However, secondary markets are lacking and the expected liquidity has not come into place yet.
Q8: Another promise, I will not ask “what do you plan to write next” 🙂 Instead tell us please what is likely to occur in tokenized assets in the next two years?
A8: Within the next two years, we will surely see a lot of changes in regulations – presumably positive changes.
Regulators are seeing the relevance of tokenized assets and hence enter the competition of providing the respective legal environment.
At the same time, secondary markets should be operational soon, enabling the liquidity aspect of tokenized assets.
Q9: What are the major issues on the way to mass adoption of tokenized assets, and how do you think it is possible to solve them?
A9: Nowadays, investing into a STO can be tricky for traditional investors that are used to buying stocks on the stock exchange or investing via notary contracts. This is, by nature, given due to the fact that security tokens are a quite new phenomena. The user interfaces still need to be built to provide an excellent usability for investors. Although this is a challenge at the moment, I expect that it will be solved within the next 12 to 24 months.