Anticipation Builds for Tokenization in 2020

Asia Blockchain Review
January 20, 2020

Tokens are back and will be done properly this year, with the Bitcoin SV Genesis Upgrade. Not just for speculative trading, in 2020, blockchain token technology is expected to be adopted for use by everyone who wants to exchange value in other forms.

Vast Potential Uses of Tokens

“Everyone can benefit from tokenization,” said James Belding, CEO and Founder of Tokenized. Especially on the Bitcoin SV blockchain, the potential uses of tokens are boundless, as Belding told SVPool that “You’ve got your obvious token examples at multiple work now, like your financial instruments, I mean silly tokens like movie tickets, admission tickets things like that, and they offer a real significant value proposition compared to what you can do today.”

Companies, non-profits, partnerships, individuals, even families can benefit from this immutable, digital record of ownership. Based on smart contracts, tokens enabled any agreement to be enforced without the use of paper documentation or middlemen, reducing costs while decreasing speed.

One of the most exciting uses of tokens this year is perhaps the issuance of national fiat currency tokens, which according to Belding, “is going to happen sooner than people think.”

Blockchain Tokenization and Law

Blockchain tokenization can prevent document forgery, loss, and theft, as digitizing documents reduce the need for physical ones. This way, blockchain tokenization works to complement human law, and Bitcoin has expressed its intention to work within legal frameworks.

Just to reiterate, the main promise of tokens this year is to make legal agreements of any size available to all by making it cheaper and easier. Now the question is, when will we have the best and most widely-used platforms to manage them?

Source: coingeek.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    Expert Insights On The Asian Crypto Market
    Trescon hosted its first virtual edition of the popular World Blockchain Summit (WBS) series on Thur...

    August 11, 2020

    Digix Partners with Axie Infinity In Gaming
    The world’s first asset-backed digital gold token, Digix has partnered with Axie Infinity on a digit...

    August 11, 2020

    Distributed Ledger in Education: UCSI Explores
    Asia Blockchain Review had the opportunity to chat with the director of ICSDI at UCSI on the whole d...

    August 11, 2020

    Mainstreaming Of Cryptocurrency Investments? An Exploration
    While the security and the regulation is well chronicled. The big question that needs to be answered...

    August 10, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us