Ltokenization is the transformation and representation of an asset or object within a blockchain. To achieve this, tokenization involves a transformation process that takes the properties of said object. This transformation process consists of digitizing said object and bringing all its information to a block of a blockchain. Once registered, it can be exchanged or stored. During this process, said object is granted a token that allows such an object to be manipulated as an integral part of said blockchain.
The best thing about all this is that blockchain tokenization can be applied to practically anything. From a drink, an asset, documents, identities, a house, to every item that comes out of an industrial production line. PPractically anything could be tokenized.
This situation could profoundly transform different processes, such as a supply or marketing chain. A tokenization in a supply chain will be able to improve its security, while adding transparency and traceability reducing costs for intermediaries.
Tokenization and the transformation of the world
Undoubtedly, blockchain technology opens doors to a whole universe of possibilities that were previously difficult or complex to solve. This transformation began in the first place in the economic aspect and despite this, it continues to spread. And is that the potential of blockchain technology and tokenization is gigantic. Even today, we cannot imagine the possibilities of a decentralized and secure system like this.
And, what has captured the most attention in the world is precisely the fact of being able to access information securely from anywhere. To this we can add, the ability to take data from an object or elements, to dispose of them in a decentralized network that can be accessed with high granularity and low costs. An achievement therefore within the reach of very few systems.
Well, all this is possible thanks to the use of blockchain technology and tokenization. And although the example talks about a company and its production line, it can be applied to any other circumstance. Consequently, the tokenization of the world as we know it, will mean redefining it.
Advantages of tokenization
The tokenization process has a number of advantages, among which we can highlight:
- Allows represent digitally any aspect of reality on a blockchain.
- Enable the ability of a traceability absolute for each object or tokenized asset.
- Generate systems that can be audited completely or easily discriminated, facilitating this task.
- Increase the transparency and the fullfilment of security requirements of computer systems.
- Open the doors to nuevos schemes, work and security structures in all areas.
- Decentralizes the intrinsic processes of the tokenized system, which ends up offering greater control, privacy and security in them.
- Allows reducir that intermediaries and with it back that costes de operation.
- Cut Back la duplication de information and adds redundancy to the processes that handle it.