Power has always belonged to those who control the resources. Land, water, energy, minerals, and agriculture. These are the foundations of real economic value. But financial markets have spent decades stripping commodities from their origins, turning them into abstractions that exist more on balance sheets than in the hands of those who produce them. A barrel of oil is traded hundreds of times before it leaves the ground, moving across trading screens while drillers below see nothing. Agricultural supply chains push food prices up while farmers, like those in India watching grain profits vanish to middlemen, fight to survive. Land is bought as an investment while local communities are displaced. This is not just an imbalance; it is by design, driven by a system where profit incentives and lax oversight allow corporations and speculators to hoard control while producers get scraps.

Web 3.0 has arrived, claiming to fix this with Real World Asset tokenisation. A fractional share in a lithium mine, a digitised claim to farmland, a tokenised stake in a solar farm. The idea is access, but here is the truth. Holding a token does not mean holding the commodity. It does not mean control. You are not deciding how that mine operates, who benefits from that land, or where that energy goes. The majority stake, often held by venture funds or crypto whales, still rules, and the token is just another financial instrument, another abstraction with no real power. Some argue tokenisation democratises access, pointing to DAOs where holders vote. But even there, influence often scales with wealth, leaving small stakeholders with symbolic gestures, not real authority.

This is not just about participation in decision making. It is about who holds the fundamental economic rights over resources. A governance token might offer a vote, but does it grant a claim on production? Can you decide how much of that mine’s output goes to local markets? Can you influence how that farmland is managed? Most tokenised assets replicate traditional structures, where control stays locked with those holding the largest equity stakes. Think global asset managers and private investment funds, not rural cooperatives. Financial markets have perfected this system, turning ownership into a game where real decision making remains out of reach. Tokenisation does not automatically shift that. Owning a fraction is meaningless without control, and without governance tying decisions to those closest to the asset, it is just another traded placeholder.

Liquidity is not guaranteed. A tokenised asset bends to market forces, and without a robust marketplace, holders are trapped. Look at early tokenised real estate ventures. RWA platforms have promised tradable stakes, but thin buyer pools often leave investors stuck, holding a digital claim they cannot exit. Transparency hinges on governance, not just blockchain’s ledger. Off chain deals, insider control, or hidden financial plays, like majority holders quietly negotiating output sales, still shape value. Fractionalisation does not equal influence. No matter how many token holders exist, if control is concentrated, those tokens carry no weight.

Ownership must go beyond speculation, rooted in participation at the resource level. Imagine different models. In the Democratic Republic of Congo, smart city development could ensure infrastructure investment benefits local communities, with governance letting residents, like Kinshasa labourers watching foreign profits soar, shape resource deployment. In Ghana, a gold mine could shift from extractive wealth transfer to a long-term equity model, where workers and local businesses hold twenty percent of production stakes, not just digital scraps. In Vietnam, carbon credit projects could structure revenue to fund conservation controlled by farmers protecting the land, not external firms chasing socially responsible optics.

This is the gap between tokenisation as a gimmick and an economic shift. Real power sits where resources are, not in financial markets. The challenge is ensuring that producers, farmers, energy creators, and resource stewards hold influence, not just serve as cogs while value flows elsewhere. If tokenisation is to matter, it must embed governance that reflects true ownership, not just slice up assets with the latest twist.

This is where Kula steps in. We are not repackaging ownership. We are restructuring it. Kula embeds governance into the economic framework of real world commodities, ensuring those who generate value direct it. Unlike typical models where centralised firms or passive tokens dominate, Kula ties capital to control. For example, in an energy project, our smart contracts might lock thirty percent of profits to local producers, with token holders, weighted by stake and proximity, voting on output allocation. This is not financial exposure. It is a voice tied to production. This. This is different.

Here is where Kula flexes its muscles over the beguiling trend of RWA tokenisation. Most real world asset gigs toss tokens into the blockchain wilds without tethering them to Web 2.0’s legal structures — think contracts, equity stakes, and accounting standards that make value stick. Commodities beat assets here; their worth is in the raw materials — oil, grain, gold — not some vague digital illusion of them. Kula does not play that game. We tie tokenisation to solid legal frameworks, ensuring it is not just a claim but a real slice of the action, linked to production and enforceable rights. While others scatter tokens like cosmic confetti, Kula locks them to the equity that counts, giving producers control over the value they create, not just a hollow claim floating in the digital void.

Kula creates pathways where value stays with those who sustain industries. Whether structuring real stakes in energy, ensuring long term agricultural equity, or redesigning commodity economies so local participants govern, we build systems where ownership means influence. None of this is easy. Smart contracts can enforce profit splits, but without careful design, they risk entrenching capital heavy players. Decentralised governance can protect local stakes, but poor execution, like token dumps by early investors, could skew it. The tools exist, but intent matters.

As Web 3.0 grows, a choice looms. Will tokenisation financialise commodities further, distancing ownership from those who rely on them? Or will it lock power where it belongs, giving producers a stake in the wealth they create?

Kula chooses the latter. Ownership is not just a token. It is a right.