Tokenization as the Alternative Asset Management Model for Retirement Preparation: The Case Study of Thai Stock Investors

Abstract

Older people in an aging society face problems with income stability because of insufficient savings for retirement. The objectives of this study were 1) to study alternative asset management from financial tools, 2) to analyze the suitable tokenization model, and 3) to propose the tokenization model for senior citizens as asset management. Research and development methods collect property management models for information on the older people. The prototype with in-depth interviews using the Business Model Canvas framework with five groups of stakeholders (the SEC, ICO portal, Digital asset exchange, ICO issuer, and older people investors) was performed for the suitable Tokenization model. Subsequently, the model was tested for the acceptance of innovation with  three groups of  people: 3 from commercial banks, six from investors before retirement, and  five from retired investors.

The evidence from this study is 1) reverse Mortgage Loan is the only financial tool that solves the liquidity problem of older people, 2) the prototype Tokenization could be used as an alternative solution to solve liquidity problems for older people under the Digital Asset Act, and 3) the exploration established the Social Value Tokenization Model. After acceptance testing found six factors that helped the elderly to accept it, including: (3.1) the ICO Issuer is reliable; (3.2) the principal protection policy of cash flow management; (3.3) supported by the government in every dimension; (3.4) quality of older people cares; (3.5) asset quality selected for the project; and (3.6) partnership with the public, private and social sectors.