“Anything that exists in binary format with the usage right is digital asset.”– Romi Kumar
In a world where nearly any industry is asking the question can blockchain be a solution to its organization’s woes, or where many want to jump on the cryptocurrency bandwagon—it may not be surprising then that William Shatner, famed actor of 1960’s TV series “Star Trek”, is now looking at a cryptocurrency startup as a way to digitize precious items.
According to CCN Markets , Shatner is “heading his own start-up, Third Millenia, which will help people use the Mattereum protocol.” Third Millenia and Mattereum is user experience focused. Shatner wants to make transferring assets easy for senior citizens and non-technical people.
In “Tek Wars”, a spin-off from “Star Trek” and written by Shatner in the early 90’s—the opening episode of the show features digital currency. It looks like Shatner has been thinking about the application of the digital world for currency well before Bitcoin was an idea.
When you think about collectibles and assets—you’re likely to think about items like antiques found in your grandmothers attic, or government bonds and gold. However—Romi Kumar says that anything existing in binary format, where one has the usage right—can be considered a digital asset.
The concept is at a nascent stage, with startups like Shatner’s Third Millenia emerging that allows one to convert property or cash into digital assets—which can be traded with cryptocurrency. Kumar notes that there is a myriad of digital assets. While not designed as an investment, blockchain assets can be programmed. In addition, security tokens, hybrid tokens, crypto commodities and others, are representative blockchain based digital assets.
I’ve cofounded a new blockchain company👇🏻taking aim at authentication of collectibles, art and the luxury brand market. We are looking at partnering with brands and crypto types at this point. Get in touch via my Press account. (See contact on my website.) https://t.co/dPD0vgYCon
— William Shatner (@WilliamShatner) June 21, 2019
Margo H. K. Tank, and her co-authors at DLA Piper—a global law firm—provides a review of digital assets from a legal perspective. While use cases of blockchain technology involve applications from copyright protection to voting, and include supply chain, smart contracts and more—most use case adoption has been in the financial services. With blockchain’s properties of immutability and its ability to hold and manage smart contracts, it is an appropriate technology to be used for digital assets.
Tank elaborates: Digital assets can include securities, commodities, deposits, accounts, intangibles, negotiable instruments, digitized assets—and more.
They can be assets in their own right, or they can reflect “the ownership of an underlying asset”. As an example, an electronic record that is the equivalent of a negotiable instrument would be a digital asset. Any “electronic recording of a security interest in the underlying asset, such as recording title to real or personal property and the use of tokens to represent revenue streams from otherwise illiquid assets such as patents and commercial real estate,” (DLA Piper), are sometimes referred to as being “tokenized” or as a “digitized asset”.
DLA Piper is a global law firm with lawyers located in more than 40 countries. They are represented in the Americas, Europe, the Middle East, Africa and Asia Pacific.
Shatner’s “Third Millenia”
According to CCN, Third Millenia will launch in two phases: Phase one will ensure that the technology works. , and it will launch a line of “digital twins”—basically there are non-fungible tokens on the blockchain where one can use their Ethereum wallet to show off their collectibles. The technology merges the visions of “Lucid Sight, who create digital collectibles for firms like Major League Baseball, and projects like Propellr, which helps tokenize a range of assets.”
Shatner will use an action figure of Shatner himself for the first test case of the blockchain. According to CCN Markets this type of memorabilia is valued around $270 billion—globally. Shatner’s merchandise alone “provides a compelling use case for the technology.”
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💎William Shatner is partnering with Mattereum and other tech creators for an authentication system targeting collectibles. Not the first time William Shatner has been involved with crypto. In 2018, he partnered with Solar Alliance in Vancouver to lease renewable energy and space to mine crypto. He is obviously quite bullish on crypto and blockchain. It's good to see more and more influencers announce their relations and involvement in this space. Pairs very well with the price increases we are seeing! Link in bio for video 😄📲 #allthingscrypto #williamshatner #mattereum #ethereum #vitalikbuterin #elonmusk #blockchain #blockchaintechnology #crypto #cryptonews #cryptoworld #cryptocurrency #cryptos #cryptotrading #artificialintelligence #entrepreneur #investor #investing #actor #acting #solaralliance #solarenergy #renewableenergy #vancouver #canada #techie
In phase two, Shatner hopes to enable “fast, efficient, and legal transfers of assets on the blockchain”. With blockchain’s secured and immutable nature—one’s ownership of a prized and valuable action figure can be protected. Anyone who may have stolen your action figures couldn’t prove their ownership because the real owner holds the token.
With companies like Third Millenia and Mattereum, says CCN Markets, “collectibles of the future will be stamped on the blockchain and authenticated from the beginning.”
Making more projects easy for senior citizen and non-technical people to use cryptocurrency will move the needle in favor of mass adoption. Shatner’s Third Millenia project has the promise of being able to deliver with application that is both fun to the user and offers tangible value.