Tokenized Group Pty Ltd has announced the official public release of the Tokenized Protocol Beta. The Tokenized Protocol is a comprehensive, regulation-friendly solution for businesses to create tokens for real world assets on the Bitcoin SV (BSV) blockchain. This is a huge milestone for the Tokenized team, and they are excited to share their work with the world.
“We look forward to helping everyone in the ecosystem add support for the open-source Tokenized Protocol in their own projects. We also welcome all users, organizations, developers, governments, and investors to reach out and find out how the Tokenized Protocol can benefit them. The best place to engage with us is in our Telegram group or our community forum,” said James Belding, Founder and CEO of Tokenized. “We believe our solution is the best token and smart contract system on the market, by far, and combined with the unrivaled scaling capabilities of the Bitcoin SV (BSV) network, we believe we can systemically improve the way our world engages in voluntary exchange.”
The beta version represents a major upgrade from the alpha version, and the Tokenized team released a comprehensive set of documentation to allow developers to get a proper sense of what it can do. The documentation has also been created in such a way that less technically inclined people will still be able to understand and get value out of reading through it.
The beta version has introduced many important and innovative features that make Tokenized a very compelling value proposition for tokenizing real-world assets on the BSV blockchain. The team focused on building a system that works ‘out of the box’. To make sure they achieved this goal, the Tokenized team tailored the protocol to work within the realm of current regulatory frameworks and within the confines of the law in common jurisdictions around the world.
James adds “There is still a lot of work to be done in educating regulators, however, we are confident that all of the pieces are now in place to allow the protocol to be adopted globally as a replacement for all of the current financial messaging protocols.”
Key Features of the Tokenized Protocol Beta:
• Support for a diverse array of asset types: Common Shares (SHC), Loyalty & Reward Points, Coupons, Currencies, Admission Tickets, and Memberships (with many more assets types to be announced soon)
• Multi-asset atomic swaps
• On-chain messaging for orchestrating the signing of multi-signature, threshold signature, and token exchange transactions (and more)
• Smart contract support for Identity Oracles ensuring issuers can comply with KYC, AML, CTF laws, even in secondary trading, all whilst maintaining user privacy
• Governance features that allow for an improved UX for organizational governance, all on-chain and completely managed by smart contracts
• Customizable voting systems that will allow for pseudonymous, secure and corruption-free votes. Votes can be cast from a smart phone or laptop computer.
• The voting system is technically capable of being used for all types of votes from local all the way up to national elections. (Citizenship tokens coming soon)
• Enforcement features that allow for legal authorities to issue on-chain and digitally signed court orders which can provide justification for smart contract-controlled freezing, thawing, and confiscation of tokens
• Capable of allowing banks and governments to tokenize national currencies ushering in a new paradigm of ultra-low-cost transactions, microtransactions and ~2-second clearing and settlement times.
• The Tokenized Protocol can replace traditional bank-to-bank financial messaging systems as well as payment systems provided by credit card companies
• Business-friendly and sensitive to the real needs of different regulatory environments worldwide.
Tokenized is a company on a mission to build tools and solutions to unlock the value in Bitcoin for mainstream business and consumer users. They are firm in their belief that BSV is the only protocol that adheres to Satoshi Nakamoto’s original design of Bitcoin, and they believe firmly that it’s the only protocol that can work at scale. Tokenized intends to release their 10-year plan publicly in the next 6-18 months. This Beta release represents their first step in the 10-year plan which is to bring practical smart contracts and tokens to Bitcoin SV.
In 2018, the Tokenized team was selected as the winner of CoinGeek’s £5M tokenization solution contest for Bitcoin. CoinGeek, founded by billionaire technology entrepreneur Calvin Ayre, is one of the key backers of Bitcoin SV (BSV) as the only project following Bitcoin’s original design, protocol and massive-scaling vision.
Ayre comments: “The original Bitcoin design and protocol – created by Craig Wright – had everything it ever needed to power a vast array of technical capabilities – including creating tokens of real-world assets. Bitcoin is also massively scaling now, only in the form of BSV. Businesses will soon see their token needs won’t be satisfied by Ethereum’s scaling problems, but will instead be powered on BSV as the only blockchain with the scaling roadmap for enterprise token usage made easily possible by the Tokenized protocol.