The Hague, January 20th, 2021
This month, the 2Tokens foundation and Holland Fintech launch a program of research, workshops and webinars on the impact of tokenization and Crypto assets on the financial industry. The potential of tokenization and the use of newest technologies can bring great transparency and larger efficiency to the industry.
What is tokenization?
The usage of tokens in society goes back to antiquity, where all kinds of tokens could store value or stand for an agreement. Think about stones or shells, or precious metal and certain minerals like salt. Anywhere that a standardized object provided liquidity to facilitate trade, one could speak of a token. In recent times, technologies such as cryptocurrencies and blockchain have shown to be able to reduce the cost working with tokens, while at the same time enhancing the inherited complexity of the tokens, that now have become able to store a much larger complexity of value and conditions. The re-thinking of familiar processes, with the use of modern digital tokens, is what we call tokenization.
The potential for tokenization to disrupt existing interactions is huge – offering more efficient solutions to existing concepts, like company ownership, as well as opening up whole new models for risk sharing and financing.
The potential for financial services
While tokenization is familiar to the financial industry, since the rise of cryptocurrencies and related technological possibilities, we see an increased interest in the field, and the need to jointly learn about future possibilities. Tokens can be used to represent all kinds of contracts and value, and have the potential for more transparency, trust, liquidity, and speed of financial services. Therefore, Holland Fintech and 2Tokens join forces to speed up the adoption of tokenization in the financial industry, by doing research into most feasible cases, identifying bottlenecks, and education and workshops.
The first webinar – “A token of appreciation” - to celebrate this collaboration will take place on the 20th of January and will discuss the value of tokenization for financial services and potential regulatory and legal barriers. You can register here: https://www.eventbrite.co.uk/e/a-token-of-appreciation-the-value-of-tokenization-for-financial-services-tickets-133083611665
About Holland FinTech
Holland FinTech is a network organisation for financial innovation and fintech, founded in 2014 in Amsterdam. Holland FinTech has built a vast knowledge base through research, and operates an enormous network of change agents that tie strongly into the financial industry across Europe. Working through a program for collaboration, transformation and impact, Holland Fintech offers its vast network of over 400 member companies a unique advantage to be part of the future of the financial industry and drive forward the digital economy.
The 2Tokens foundation has the objective of gaining insight into how the Netherlands should deal with token financing and tokenization. Last year several round tables, masterclasses and online webinars were hosted which attracted over 1000 participants. Different working groups have explored usecases such as Electronic Bill of Lading and Next Generation Capital and published white papers on the token taxonomy, legal perspective and business case. For the new year new Usecases have been selected and will be announced.
2Tokens highlights the path to Tokenization in the Netherlands. The mission of 2Tokens is to provide an interactive roadmap with the aim of creating clarity about token financing. That's why we're a public organization backed by a diverse community made up of technology companies, policymakers, financial advisors, banks, and legal experts and academics. The 2Tokens foundation is sponsored in part by the European Union and a diverse partner community such as Lift-Off, Innovation Quarter, Port of Rotterdam with the support of Erasmus University, the government Ministry of Economic Affairs, and various industry players. Among the many partners are companies such as Rabobank, ABN Amro Bank, NxChange, CMS, Dusk Network, EuropeChain, WatsonLaw, IBM and the ITSA. The ambition of 2Tokens is to create awareness in society, stimulate relevant discussions, and bring together knowledge / expertise in order to reduce the barriers to tokenization and realize the social benefits.
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