ASSET TOKENIZATION AND ITS IMPACT ON THE TRANSFORMATION OF OWNERSHIP IN THE CONTEXT OF THE FORMATION OF THE DIGITAL ECONOMY

Анотація

Asset tokenization is one of the key directions in the development of the digital economy, driving the transformation of the traditional system of ownership and financial relations. The rapid advancement of blockchain technology, the increasing volume of digital assets, and the expansion of decentralized financial platforms necessitate a review of the legal, economic, and technological aspects of ownership. Tokenization simplifies investment processes, enhances asset liquidity, and ensures broader accessibility. However, it also introduces risks such as market fragmentation, legal uncertainty, and the absence of the unified regulatory approaches. The process of asset tokenization is accompanied by fundamental changes in economic relations. Decentralization of ownership, the expansion of investment mechanisms, and the globalization of financial flows create new opportunities but also pose the challenges for states, companies, and investors. On the one hand, tokenization facilitates transaction processes and increases asset accessibility; on the other hand, it raises concerns about security, regulatory oversight, and fraud risks. The purpose of the study is to analyze the impact of asset tokenization on ownership transformation in the digital economy, identify the key advantages and risks of this process, and justify the necessity of adapting legal and economic mechanisms to new realities. It has been substantiated that tokenization promotes the democratization of asset access while simultaneously creating legal uncertainty regarding ownership rights protection. It has been determined that countries with developed financial markets actively adapt their regulatory frameworks to tokenization, whereas in many other nations, this process remains unsystematic. It has been found that asset tokenization enhances market liquidity, reduces transaction costs, and creates new financial instruments for investors. The use of smart contracts ensures transaction automation, minimizing errors and unauthorized changes in ownership transfer processes. The further growth of the tokenized asset market will depend on the implementation of regulatory standards, the improvement of digital platform security, and the development of global strategies for investor legal protection. Asset tokenization is a promising trend in the development of the digital economy, reshaping traditional approaches to ownership, investment, and financial relations. Its widespread implementation requires clear legal frameworks, adaptation of regulatory standards, and increased trust in blockchain technology. At the same time, tokenization unlocks new opportunities for economic growth but also demands solutions to the challenges related to financial security and regulatory barriers.

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