Tokenization is the future and the pace at which it is being used on the Bitcoin SV blockchain is quickly picking up steam. I bet you’ve heard this quite a few times in the recent past, especially since the rise of security token offerings (STOs). And indeed it is. Tokenization allows us to represent value digitally, making it more easily divisible and tradable. Almost anything with value can be tokenized, and developers have taken full advantage of this to target every other industry.
Bitcoin SV has established itself as the best blockchain project for various uses, and tokenization has been no different. Blockchain developers have turned to BSV to build tokens that target diverse industries, from gaming to gambling and asset management. Tokens built on the BSV blockchain include:
Blockchain technology has always been about fairness, and one company that has insisted on this is BitBoss. BitBoss is out to bring fairness to the online gambling sector, an industry that isn’t always associated with trust. Many players in online casinos don’t trust the operators to deliver fair results, despite all the steps that the operators make to ensure fairness. It’s also quite expensive to operate the systems in order to keep everyone satisfied and happy.
BitBoss allows casinos to offer online gambling with provably fair results by using blockchain technology. Gaming transactions are attached with a public key which the players and the operators can verify, allowing both parties to be completely certain that the results weren’t interfered with. BitBoss banks on BSV’s massive scalability to handle the huge volumes of transactions generated by the gambling industry.
BitBoss launched casino tokens on the Tokenized Protocol a month ago, targeting mobile gaming. BitBoss mobile games can run using native BSV or other casino-specific customized tokens.
Blockchain and gaming have been intertwined for a long time now, with the gaming industry being among the first to fully embrace the technology. The industry has a history with the use of tokens, with many gaming platforms having tokens that the players can purchase with fiat and then use them to make in-app purchases.
Kronoverse has built on this model, allowing its users to create items and game objects that can then be traded, just as you would cryptocurrency. The tokens can then be utilized by other game developers in their own games, creating a gaming community where the players can utilize the assets from anywhere. Since the tokens are built on Bitcoin SV, they are forever yours and can’t be taken over by the game developers.
Bitcoin has been hailed as the digital gold, but Amleh is taking it a step further. The project was developed by Layer2, a holding company that seeks to bring the utmost utility to the BSV blockchain. Amleh has digitized gold on the BSV blockchain, bringing on-chain the concept of gold certificates that have been around for decades.
With tokenized gold, you can easily transfer fractional amounts of it in a secure way. The platform uses the BSV blockchain for on-chain transparency, while using a renowned audit firm for off-chain transparency of the physical gold that the Amleh tokens back. In line with its mission of making gold accessible and usable, Amleh allows you to own as little as 1 milligram of gold.
It was at the recent CoinGeek Seoul conference that one of the biggest announcements in BSV was made. South Korean app store One Store announced that it would be launching Buskon, a music platform built on the concept of busking online.
Buskon allows content creators to get paid directly by their fans, eliminating the middle men who continue to exploit the content creators. First, it allows you to listen to the music you love for free. If you like any of the work done by the artists, you can tip them directly. The musicians will get to earn in BSV for their music and they can then use this BSV to pay for other services, in line with the earn-and-use philosophy.
Tokenization is going to change the world in several ways, finally enabling digital representation of value. Bitcoin SV will continue to establish itself as the blockchain of choice for tokenization as more developers recognize the great advantages it has over other blockchain projects. BSV scales massively on chain, allowing it to process millions of transactions which will be critical for tokenized assets as they seek global adoption. It also has the cheapest real-time transactions, and with the exchange of tokenized assets set to become a global phenomenon, this will cement BSV’s position as the undisputed leader in the blockchain space.
The Genesis protocol upgrade on February 4, 2020 is a monumental step in the history of Bitcoin, and will see BSV returned as close as possible to the original protocol as envisioned by Satoshi Nakamoto. Visit the Genesis Hard Fork page to learn more.
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