Tokenization centers around the concept of disintermediation in a variety of processes. By replacing such intermediaries with code, decentralized finance democratizes the ability to trade real-world assets and potentially provides increased security, efficiency, and reliability to asset owners. There is also the potential to create more liquidity for investors.
The transparency, liquidity, and efficiency lends itself to greater coupling with Decentralized Finance – peer-to-peer lending and trading, data oracles, and hyper-customized portfolios.
This video gives you an analysis of the potential implications of tokenizing real-world assets. We go over financial processes, oracles, and blockchain concepts to help you understand the bigger picture of such a technology.
Blockchain is a very powerful group of technologies that facilitates distributed trust. As a decentralized system, it is incredibly robust and adaptable, advantages which are counterbalanced by its slow speed and inefficiency. It is an essential requirement for digital currencies, like Bitcoin, which are useful in places where central banks are ineffective or very expensive. Bitcoin also allows users to do things the government doesn’t approve of, which might be criminal or political or revolutionary or trans-national. But digital currencies are also incredibly volatile and it’s hard to predict their future. Blockchain, on the other hand, offers utility far beyond digital currencies. As we continue to evolve our relationship with technology and privacy, we can see a role for smart contacts, which could be used to negotiate trust and approval across large networks. In the Mirror World, where individuals are constantly contributing virtual objects and artifacts, there is a massive need to verify whether things are legitimate or not. In the physical world, blockchain can be embedded to track the provenance of objects and to confirm authenticity. In a world of 8 billion people, a distributed system like this makes a lot of sense, and many experiments are underway to reduce the need for computational cycles, reducing the environmental costs. We are still waiting to see how decentralized systems like blockchain scale up, and we are still exploring what it’s really good for, but I expect that this technology will become part of the ecosystem of invisible infrastructure in the next 10 years. This video on “The Future of Blockchain” was commissioned by China Mobile as part of an online course. It is one of 36 lecture videos.
It’s important to store credit card information in the most secure possible way. Tokenization stores credit card information off-site. In return, you receive a reference coin, which we refer to as a “token.” That token will sit in your system as a payment method. You have all the functionality of being able to store a credit card without the liability of actually holding onto it yourself. It’s by far the best technique for actually storing credit card information in a PCI compliant manner, and keeping that liability off of you and your own business. Not everyone is Target or Marriott, not everyone can take on millions of dollars of problems and still come out the other end in business. Tokenization is the best way to store information and keep yourself safe.
Not all cryptocurrencies have their own blockchains. Instead they run on top of other platforms like ERC20 tokens run on top of Ethereum. This video explains what these tokens are and why ERC20 was created.
A new startup wants to change the way freelance talent and respective clients find each other through a community-run platform. To accomplish this, the project will feature its own governance token. The core premise of the platform, known as Braintrust, is to remove middlemen from the process of hiring highly skilled talent for contract and freelance work — primarily in the IT industry.
The coronavirus pandemic has had a global impact, particularly on procurement and medical supply chains. Blockchain could provide a mechanism for health systems to continually update factories with the latest product requirements and specifications, almost like a production auction. Currently, standards vary across health systems and countries, creating confusion for what each factory should be producing. As governments and businesses around the world start to grapple with the huge task of getting our economies back up and running, the enormity of the challenge is starting to become clear. The world’s industries, particularly those engaged in the medical supply chain, are having to deal with a range of issues, from product requirements through to customs certification, and are often using complex, legacy procurements systems that have struggled during the coronavirus pandemic. These issues mean that it’s hard to verify aspects of production or distribution, resulting in breakdowns of trust across global supply chains. Various innovative solutions have been proposed, and, at the forefront of these, is blockchain technology. Blockchain and COVID-19 – Where can Blockchain be used? Blockchain technology wide range of applications means that it has an increasing platform on the world stage, with the potential to revolutionise health provisioning, accelerate innovation and enable new data-driven intelligence across multiple sectors. Transparency and accountability are precisely what’s needed at this moment in time, as we deal with extensive disruption to global supply chains. The IET has recognised the important role that blockchain is going to play in our futures, and we are launching a new journal to explore, review and promote the technology Blockchain and COVID-19 – Where can Blockchain be used? There are many common questions that arise around Blockchain technologies such as what exactly is Blockchain?, where can Blockchain be used?, how does a block chain work?, what is Blockchain in simple words? what is Blockchain good for and can we trust Blockchain?