Tokenization of Real World Assets: The Impact of Risk Perception, Liquidity, and Financial Literacy on Generation Z Investors
DOI:
https://doi.org/10.67756/ijdam.v1i2.49Keywords:
RWA Tokenization; Risk Perception; Liquidity; Financial Literacy; Investment Interest.Abstract
Tokenisasi Real World Assets (RWA) berkembang sebagai salah satu arah penting transformasi manajemen investasi digital karena memungkinkan aset dunia nyata—seperti properti, surat utang, komoditas, dan instrumen keuangan—direpresentasikan dalam bentuk token digital pada infrastruktur berbasis blockchain. Penelitian ini bertujuan menganalisis bagaimana persepsi risiko, likuiditas, dan literasi keuangan membentuk minat investasi Generasi Z terhadap instrumen RWA ter-tokenisasi. Penelitian menggunakan pendekatan kualitatif dengan metode studi literatur (library research). Data sekunder diperoleh dari 35 referensi ilmiah yang dapat ditelusuri melalui Google Scholar serta sumber institusional resmi dari Otoritas Jasa Keuangan (OJK), Badan Pusat Statistik (BPS), Kustodian Sentral Efek Indonesia (KSEI), dan Bank for International Settlements (BIS). Analisis dilakukan melalui reduksi data, pengodean tematik, perbandingan antartemuan, dan sintesis konseptual. Hasil kajian menunjukkan bahwa tokenisasi RWA berpotensi memperluas akses investasi melalui kepemilikan fraksional, otomatisasi transaksi, transparansi pencatatan, dan kemungkinan peningkatan likuiditas. Namun, minat investasi Generasi Z tidak hanya ditentukan oleh inovasi teknologi. Persepsi risiko yang tinggi—terutama terkait volatilitas harga token, risiko teknologi, keamanan siber, kualitas aset dasar, dan ketidakpastian regulasi—cenderung menekan minat investasi. Sebaliknya, persepsi likuiditas yang baik meningkatkan daya tarik karena investor mengharapkan kemudahan masuk dan keluar dari posisi, biaya transaksi yang lebih rendah, serta pasar sekunder yang memadai. Literasi keuangan berperan sebagai faktor penguat karena membantu investor memahami hubungan antara token dan aset dasar, menilai risiko-return, serta membedakan instrumen investasi dengan spekulasi kripto. Kajian ini menegaskan bahwa pengembangan ekosistem RWA di Indonesia perlu mengintegrasikan desain produk yang transparan, mekanisme likuiditas, pelindungan investor, dan edukasi keuangan digital agar adopsi Generasi Z berlangsung secara sehat dan berkelanjutan
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