Chinese companies are tokenizing rare Huanghuali trees and other commodities in an effort to address liquidity issues facing various industries.

Digital Tokens For Scarce Resources

Firms located on Hainan, a tropical island in China, are capturing images of Huanghuali trees, a scarce species of rosewood, to transform them into digital assets, as reported by Reuters.

Zhao Xiaobao, the Hainan representative for Geely Technology Group, a subsidiary of Chinese automaker Geely Automobile Holdings (OTC:GELYF), expressed that converting the Huanghuali into tradeable tokens could infuse much-needed capital into industries grappling with cash flow issues.

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