It is clear today, and certainly more so than even just six months ago, that organizations need to grasp the generational urgency of digitization. The playing field for commercial success has shifted and entities need to exploit new digital models to create value; commercial entities must adopt digital business strategies to survive and to have the opportunity to compete.
Ecommerce is arguably the most disruptive digital transformation that we have seen in history. While the digitization of retail was previously on the executive agenda, implementation has been uneven across sectors, entities, and geographies; and it is very apparent now that those who were leading are now exponentially ahead, dominating the market and defining the landscape.
The Digital Asset sector is at a similar juncture; entities that capture the opportunity today will define the rules for tomorrow.A Meta-Model for Digital Assets
The potential to effectively tokenize real-world assets on a digital system and to efficiently transact is creating new asset classes and entirely new markets for hitherto illiquid assets; and it is reducing risk and cost in clearing, settlement, custody, collateralization and more. Tokens can represent any asset or agreement across multiple parties, and in any sector or industry.
With the broad diversity in the nature and type of tokens, a repeatable design approach, and notably one that leads to predictable results, needs to be anchored on a “meta-model”, an ontology that defines an underlying standards-based language for digital assets. For context, the Periodic Table serves as the meta-model for Chemistry.
The Token Taxonomy Framework is one such meta-model for digital assets. It and serves to define a common set of concepts and terms that may be used by commercial and regulatory participants to enable compliance and governance; and to generate precise specifications for developers to follow, for t...