Last year, CoinGeek decided to reward a project for producing one of the most unique solutions that could genuinely show the value of Bitcoin SV (BSV) and cryptocurrency. The £5 million prize was ultimately awarded to Tokenized, a fresh startup that created a system to allow virtually anything to be issued, managed and exchanged through smart contracts on the BSV blockchain. The team met up with CoinGeek’s Becky Liggero at the CoinGeek Week conference in London in November to discuss how the platform is progressing.
Tokenized lives by the motto, “Tokenized is the easiest and safest way to create, issue, manage and trade security and utility tokens on the Bitcoin SV network.” The five principle members of the team have been working hard to innovating and “finding those first customers and making sure their onboarding process” is as easy as possible. It’s certainly a full-time task, as businesses are still trying to get used to the blockchain and to fully understand its capabilities.
Tokenization can prove to be a massive driver of efficiency for any business. It allows for virtually anything to be tokenized and offered on the blockchain, including company shares, tickets to sports or musical events, coupons and much more. It has the added benefit, unlike Bitcoin Core’s (BTC) Wormhole project, to not require any BSV tokens to be burned, a process that results in a breakdown of the digital currency’s benefits.
Tokenized’s platform allows businesses to innovate while still adhering to real-world legal regulations. The system allows for any token issuer to create their solution and, at the same time, follow any laws or regulations in place at an agency, state, national or international level.