In business, a contract is everything. Being able to offer a contract that is completely indisputable is even better, and that’s what Tokenized brought to the world when it launched its protocol. It was designed, in part, to allow for the creation of smart contracts, taking advantage of the quickness, scalability and extremely low transaction fees of the Bitcoin SV (BSV) blockchain. Since then, the company has grown tremendously, and new applications being developed are completely revolutionizing how companies will be able to interact on virtually all levels—legal, financial, administrative and more. James Belding, the co-founder and CEO of Tokenized, gave a presentation during CoinGeek London, and CoinGeek’s Hannah Jackson caught up with him on the sidelines of the event.
Tokenized provides a platform that offers a real-time gross settlement system. All data is sent to, and stored on, the BSV ledger within just a couple of seconds, providing a virtually immediate universal source of truth for the records. As a result, auditors, regulators, lawyers, courts and all relative parties have instant access to the data they need to fulfill their responsibilities, ultimately reducing costs all the way around.
This is possible because of the inherent characteristics of BSV and, as Belding explains, “BSV network is unique in its ability to achieve the highest possible marks for data availability, integrity and persistence.”
The company is now working on different solutions, including currency tokens, non-regulated tokens, regulated tokens and a superwallet. It is only a couple of weeks away from having a final solution for enterprises to handle much of their delicate operations and to facilitate their activities no matter where they are in the world.
One of the things that will help this process is something Tokenized has been diligently working to accomplish, and it looks like the dedication is about to pay off. The U.K.’s Financial Conduct Authority (FCA) is reportedly almost ready to issue a money license to the company, which will allow it to offer an “e-money” solution to businesses, giving them the ability to offer financial instruments, create their own transactions and much more. Once this solution is implemented and has begun to grow, Tokenized will look to expand to other regions, including the U.S., Canada and more.
In his chat with Jackson, Belding expanded on what is happening being the scenes. Tokenized continues to develop and increase the scalability of its solutions, and is already working with a FinTech company, as well as other businesses, that is building on the protocol. In addition, a public version of the Tokenized application will be launched before the end of the year, and will be followed by a financial instruments platform just a few months later.
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