Clarifying the path to tokenization
From November 2019 till February 2020, we hosted three round table sessions on tokenization. Each round table was well-visited and hosted a variety of guests coming from different business angles. The discussions were structured around 'why,' 'how,' and 'what.'
The first round table discussed the 'Challenges & Opportunities' of tokenization. The second was about 'Purpose Driven Tokenisation'. And the third round table discussed 'Token Finance'. Find the summaries of these sessions below!
Why do we need tokenization?
Although the six tables each has their different topic to discuss and perspectives, the reasons why we need tokenization were very much aligned:
What do we need to do to achieve tokenization?
The importance of tokenization was quite clear to all the participants. Tokenization is the future, and if the Netherlands would not adopt favorable regulations, it could become less competitive and lose out on promising startups who settle somewhere else. The next round in the discussions was to understand what the Netherlands needs to do to achieve tokenization. What are the requirements for the Dutch ecosystem to benefit from tokenization?
How to move forward with tokenization?
Understanding why we need tokenization and what we need to do to achieve tokenization are the first steps. Eventually, we need to have the proper infrastructure to move forward with tokenization. The third session was about the How and what we require to become successful with tokenization in The Netherlands.
Why do we need purpose driven tokenization?
The various tables found several interesting reasons about why we need tokenization:
What do we need to do to achieve purpose driven tokenization?
For decentralization to have any chance of success, we need interoperability between various blockchain networks and decentralized applications should offer a seamless experience, where the UI/UX is separated from the token layer. At least, if we wish to convince consumers to use them.
More importantly, the community and regulators need to work together to develop clear standards and regulatory frameworks. A robust regulatory framework will reduce regulatory risks, it will enable innovation by providing startups with clarity around the rules of tokenized ecosystems, and it will allow incumbents to open up for those startups. Standardized taxonomy and terminology and the education of stakeholders are vital in achieving this.
How to move forward with purpose driven tokenization?
To enable decentralized finance, we first need a widely available decentralized infrastructure. This includes protocols with a seamless UI/UX, interoperability among blockchains, decentralized exchanges, and self-sovereign identity. A decentralized infrastructure is not enough; we also require a regulatory framework that brings safety and trust to the system.
Why do we need token financing?
There are many reasons why we need token financing. One of the main reasons is that it offers companies a variety of benefits, including the democratization of value. Token financing simplifies raising funds across borders, opening up new markets, and, with that, potentially new customers.
What do we need to do to achieve token financing?
In order to make token finance mainstream, many applications need to become decentralized. Decentralized Finance (DeFi), is one of the core sectors that keeps itself busy with creating new protocols with a seamless UI/UX experience, improved interoperability, decentralized exchanges, and self-sovereign identity.
How to move forward with token financing?
Any industry confronted with disruptive technology faces the challenge of establishing a legal framework that sets the rules of the game to protect investors, consumers, and companies and get rid of bad actors. The same applies to the blockchain ecosystem. Therefore, we to create a robust regulatory system that embraces these forms of new technology.
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