Enterprise Tokenization

Tokens Aren’t New

Transfer Value with Proof

The ability to exchange value enables economic growth. Tokens have been used throughout time in various forms as a way for society to represent different types of value. The need to exchange value immutably between businesses has recently been recognized as a critical driver as we continue to globalize. As a result, Token Templates and their associated Standards are being developed to strengthen the future of globalization leveraging blockchain technology. Tokenization and Standards will allow the global economy to transfer value immutably and will eliminate the boundaries of “Intranet” or “Siloed” private blockchains through Token Management platforms that allow cross-chain interoperability.

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Your business will benefit from tokenized assets

What is Tokenization?

We constantly hear about digital assets and tokenization. How does a digital asset become a tokenized asset, and what are the benefits? Let’s first define a digital asset or a tangible or intangible good that exists electronically (ex. Currency shown in a bank account, a stock or bond in a brokerage or retirement account, etc.). In today’s world we are very familiar with many different digital assets even though we do not reference them as such. Digital assets have enabled our globalized society with the ability to inefficiently transfer value while relying on third parties. Businesses are beginning to recognize the various issues associated to these blind transfers; from timeliness to accountability and fraud. Smart contracts allow blockchains the ability to host a series of instructions that can define an asset. These instructions can define the asset type, quantities, ownership roles, behaviors, and properties. Keeping in mind the principles and benefits of blockchain, we note that these codified instructions, which now portray a digital asset, have various abilities which are decentralized and immutable. The smart contract has taken the qualities and principles of a digital asset and has “Tokenized” the asset allowing business’s the ability transfer assets (value) efficiently while enabling accountability.

Standardized Token Templates

Different businesses within different industry verticals speak different “business languages.” This poses a serious challenge to the adoption of any methodology, practice, and technology. Although when analyzing the benefits of blockchain technology as it pertains to its collaborative nature; this is particularly true! To break these barriers, standards are required. Standards demand critical and valuable support in order to be effective. Organizations, like the Enterprise Ethereum Alliance (EEA), have been leading the charge in standardizing token templates in effort to break down these adoption challenges. The Token Taxonomy Initiative (TTI) was launched by the EEA and is supported by dozens of well-known enterprise organizations who have recently began explaining the principles backing the Token Taxonomy Framework (TTF).  By using analogies to begin describing business functions, the TTF, will enable different businesses in different industry verticals who don’t speak the same business language (national Language or technical language) to use the same token templates for the business processes that are pertinent to their own business. This will result in various additional adoption benefits!

Cross-chain or Interoperability

The ability to use the internet seamlessly in effort to send messages or to post articles and text (web pages), is nothing new at this point. Although the internet faced challenges in its early days, today blockchain technology faces very similar challenges. Blockchain technology is focused on transferring value in a secure, transparent and immutable fashion. Tokenized assets will require token standards. These standards will pave the road to various token templates which will provide a reusable and consistent way for business’s around the world to “communicate” or transfer digital assets (value). Businesses which leverage token standards will enable other business networks the ability to communicate cross network (cross-chain). Cross-chain transfer of tokenized assets will provide businesses and people a way to begin efficiently proving the transfer of assets with entities around the world. Many have referred to blockchain technology as “another layer of the web or Web 3.0” for this very reason.

TRANSFER VALUE WITH PROOF

ABOUT US

Envision Blockchain Solutions is a Blockchain Ledger Agnostic Systems Integrator. Our mission is to reshape and align today’s Enterprise systems allowing organizations to recognize the new value in tomorrow’s Industry Vertical Solutions. The management team has years of Fortune 500 experience and has built a team of subject matter experts in Blockchain and Business Transformation Processes within Emerging Technologies. We focus on guiding organizations through 3 major milestones on their Blockchain journey: Use Case Analysis, Proof of Concept Development and Enterprise Scaled Deployments.

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