PRESS RELEASE
The Hague, 29th October, 2019
Clarifying the path to tokenization in The Netherlands
This November 6th, the 2Tokens project will be launched in The Hague with a round table discussion on the impact of tokenizations. The 2Tokens project has the objective of gaining insight into how The Netherlands should deal with token financing and tokenization. Surrounding countries such as Germany and France have already formulated a strategy around tokens, and have announced laws and regulations. The Netherlands is well-positioned to play a leading role in the transition to decentralization, even though the challenges are diverse.
The usage of tokens in society goes back to antiquity and technologies such as Blockchain can dramatically reduce the cost of secure and trusted token exchange. The potential for tokenization to disrupt existing interactions is huge – offering more efficient solutions to existing paradigms (e.g. crowdfunding, fractionalised ownership) as well as opening up whole new models for financing and collaboration. One clear example of a use case for tokens is in funding. While crowdfunding has helped democratise funding, far too often worthwhile ventures remain unfunded. Tokens can potentially bridge the gap between organisations in need of funding and investors, who have funds available.
Since tokens are programmable, it offers new opportunities for companies to be more flexible with regard to ownership, voting rights, dividends and financing. This will drastically affect the core of what a legal entity is.
The project is funded by the European Regional Development Fund and is a joint effort of BlockLab (Port of Rotterdam), YES!Delft, InnovationQuarter (regional economic development agency for West Holland) and LIFT-OFF who is the project lead. In addition, 2Tokens has received endorsements from the Erasmus University, TechLeap.NL, the Dutch government and several industry players. The objective of the project is to map a clear route for realizing value from tokens for The Netherlands BV. This involves looking at challenges with existing legislation and making recommendations for possible changes to the legislation.
“Tokenization will transform our economic landscape in much the same way that shares and stock markets did in the 17th century. For an Incubator such as YES!Delft it is key that we create the right environment to allow these innovations to happen - so it is great that multiple parties have come together to do what is necessary to realise this potential” says Neil Smyth of YES!Delft, the incubator of TU Delft that recently opened its Digital Hub in The Hague. Aljosja Beije, from BlockLab, agrees and states that "in the port of Rotterdam we work on the digitization of supply chains and we regard tokenization as a valuable option for logistics and energy value chains.".
The project starts with a series of round table sessions, where the first will be about challenges and opportunities for the Netherlands, on November 6 in The Hague. The second will be about Token financing and will take place on November 27 and the third and final round table session will be about the role of tokenization in new economic ecosystems on January 14.
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NOTE FOR EDITORS
For more information please contact:
LIFT-OFF
Alex Bausch
Project lead
+31-10-2060204
or visit the website: www.2tokens.org
Twitter: #2Tokens.org