Last year, we worked in three token use-cases: Electronic bill-of-lading (EBL), Next Generation Capital (NGC), and the TWO Token (TWO). Below, you'll find an overview of the use-cases and interesting material to read/watch/listen!
Electronic bill-of-lading (EBL)
On 31st March 2020, TradeTrust enabled the world’s first interoperable and paperless transfer of ownership of a negotiable electronic Bill of Lading (eBL). Utilizing blockchain technology, the TradeTrust Token has been developed & designed to ensure irrefutable digital proof-of-ownership of a negotiable eBL across supply chain platforms independent of their underlying technology.
At the moment, the EBL use-cases is, in collaboration with the InterWork Alliance, turned into the Global Trade & Supply Chain working group. The EBL token will be mapped to their Token Taxonomy Framework and used as template for token development in the supply chain.
Next Generation Capital
Next Generation Capital (NGC) is one of the three 2Tokens use cases that aim to clarify the use of tokenization. This use case is the result of a partnership between various innovative parties that jointly offer a solution for the social challenges that our generation is trying to tackle in a smart, sustainable, and tokenized way. The NGC working group identified that a process is needed to help ventures start, grow and scale. Therefore, this working group created a solution making it possible to raise capital quickly and easily and to distribute and transfer shares using tokenization. NGC solves the increasingly difficult task of securing funding in the modern world and, crucially, reduces the risks and costs for investors.
Tokenization opens various opportunities to disrupt existing interactions. It has the possibility to re-imagine value flows and guide behaviors within an ecosystem, potentially resulting in a fairer distribution of value created. This applies across society – from the Small Medium Enterprise to the corporate sector, to more public or common good initiatives that otherwise may not be able to realize the investment needed for them to succeed.
As always with innovation, the legal and regulatory environment needs to be matched to the new realities – ensuring sufficient oversight while allowing the opportunities from tokenization to be realized. Not an easy challenge as centuries-old law, practices, norms & concepts need to be matched to a space that is rapidly evolving.
The emission of the TWO token was intended to provide a fun, incentivized experience for community users to handle tokens and get rewarded primarily via discounted tickets to events. Due to the pandemic, we had to put the TWO token 'on hold'. We are currently investigating how to best bring an interesting education only alternative to the wider community, perhaps a TWO utility token gamified test net, to still increase the number of people comfortable handling these novel digital assets. To be continued.