DESAT stands for Decentralized Storage and Asset Tokenization, and it represents a paradigm shift in how physical assets are stored, tracked, and accessed.
DESAT is a groundbreaking network that combines physical asset storage with blockchain technology. It involves storage providers operating physical locations where tangible assets are digitized as non-fungible tokens (NFTs) on the blockchain. This innovative approach ensures that only NFT holders can redeem the underlying physical asset.
The core of DESAT's solution lies in the process of digitizing physical assets. By creating digital tokens that represent the ownership rights of the physical assets, DeSAT bridges the gap between the physical and digital worlds. This process guarantees secure ownership and provides the benefits of a digital token, essentially making owning the digital asset equivalent to owning the physical one.
DESAT addresses the critical issue of preventing multiple titles for the same physical asset. To achieve this, the physical asset is placed "in stasis" during the digitization process, removing it from the physical possessor's control. The DESAT Network ensures the secure isolation of the physical asset until it's redeemed through a DESAT Token, marking the process of de-digitization.
DESAT issues non-fungible tokens using the Physical Asset Redemption standard format, an extension of ERC-721, on the blockchain. This approach allows seamless integration with various applications and ensures that legal ownership details are embedded directly in the digital token.
www.desat.org