Enterprise Ethereum Alliance Will Assist Companies In The Design And Creation Of Tokens

A conglomerate of organizations that are part of the Enterprise Ethereum Alliance (EEA) have launched an initiative that seeks to help companies design and create tokens appropriate to their particular needs.
The project is called the Token Taxonomy Initiative and aims to address an existing need to clearly define and classify the tokens in order to better understand their use and implementation, according to the EEA. A note published on his blog this April 17. The idea is to establish a more global concept of this type of cryptoactives "in non-technical and inter-industrial terms , using everyday analogies of the real world so that anyone can understand them".
The initiative will be chaired by Marley Gray, board member of EEA and head of the blockchain division of Microsoft. This technology company participates in the plan along with other recognized companies, such as Accenture, Banco Santander, Blockchain Research Institute, Clearmatics, ConsenSys, Digital Asset, EY, IBM, ING, Intel, JP Morgan, Komgo, R3 and Web3 Labs, among others. .
In relation to the work methodology, the executive director of EEA, Ron Resnick, explained that they will work in an open-ended framework, which technologists and non-technologists can access. The process will include a series of workshops and a GitHub repository , where the findings and test data will be linked to the implementations of existing tokens in different blockchain networks.
This will proceed to the establishment of a standard taxonomy and a common language in order to accelerate the adoption of cryptoactives, making it easier for any employer to create tokens that allow you to meet your specific business needs . On this, Resnick highlighted the role that the standardization of the tokens created in all blockchain networks will fulfill, in order to support the tokenization process that is underway within the current economy.
The standardization of tokens to work anywhere could be the key to one of the greatest economic opportunities in modern history. Like the standards that led to the increase of electronic commerce on the Internet, the application of standards to tokenization will allow the company to use tokens to serve, or provide access to a set of goods, financial assets, securities, services, value or content. through the applications of the business block chain.
Ron Resnick, Executive Director of EEA.
In this way, it is considered that the companies that are part of the alliance will be able to take advantage of the potential of all the tokens that are issued in different blockchain platforms, in order to facilitate the transformation of the business models that are offered through various applications decentralized
The work in this standardization initiative will be carried out in parallel with the activities that have been carried out since its creation - in 2017 - by the members of the Enterprise Ethereum Alliance, in order to develop the technology and applications of Ethereum  for the scope of their respective business activities .

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Published: 18-04-2019, 09:10

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