Tokenisation transforms goods, services, and digital rights into programmable tokens, enabling seamless integration, frictionless market, and user empowerment across digital environments.
Tokenisation, as facilitated by TokenScript and enhanced by the Smart Layer, is a transformative process that enables a frictionless market and seamless web integration by converting goods, services, and digital rights into programmable and composable components. These components derive their authenticity from the blockchain and interact with integrated business processes through programmable interfaces.
Take a flight ticket as an example. When tokenised, it becomes more than just a flight pass. It transforms into a Smart Token that carries extensive information and potential interactions, akin to a computer chip that can be programmed for various scenarios. This includes details about the holder's seat, the flight's date and time, and the destination.
The power of tokenisation lies in its potential for integration. The flight ticket can streamline various travel-related processes. For instance, simplify visa applications, integrate with social media platforms for sharing travel plans, connect with car booking services for direct transportation, and automatically adjust hotel reservations in case of flight delays. This level of integration addresses web use-cases that were previously challenging due to the siloed nature of websites. By connecting these siloes through Smart Tokens, tokenisation enables a seamlessly integrated next generation web, efficient, and user-friendly web experience that wasn't attainable before.
In contrast to securitisation, tokenisation enables a broader range of interactions and integrations. For example, a tokenised property could enable the owner to generate new house keys, or authorise someone to use the property for a limited time, or vote for community development plans, where a secularised property token only allows one to buy and sell a share of that property.
In essence, the benefit of tokenisation lies in its ability to create smart tokens that act as integration points, streamlining and facilitating interactions between systems. It's about transforming the functionalities of websites and digital rights of users into programmable components that can interact with various systems, creating a more dynamic, integrated, and user-empowered internet. Tokenisation is a key component of the next-generation web, enabling a level of integration and interaction that goes beyond the financial concept of securitisation.