What? You have not tokenised yourself yet?
The above expression could get more popular than…
Have you tokenised yourself yet?
It’s like saying
What? Your company has no website?
Why Companies Need to Get on the Tokenization Train
Paul Brody is a principal and the global blockchain leader at EY.
The following article is the second in a series. Read part one here.
One of the most compelling uses of blockchain technology is the ability to reliably record information and verify when and where it was added to the network.
This feature, combined with the ability to synchronize a ledger, means that all parties can get the same information at the same time and have confidence in the truthfulness of that information. The result has been a rush to treat blockchains like infallible digital notaries, recording truthful information and sharing it around. Useful, definitely, but with significant limitations.
While knowing when and where a product was made is interesting and being able to trace its history is a powerful means to reduce fraud, it isn’t an economic unit that I can buy or sell.
Digital tokens, on the other, are designed for economic activity. And blockchains are ideal for handling them.
Rx for commerce……
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