As I talk to executives about potential use cases for enterprise-class Blockchains, I consistently get the following comment early on in the conversation--I do not need to go mining for some crazy cryptocurrency like Bitcoin, Ripple, Ethereum, etc. The cryptocurrencies are a distraction particularly with the recent news of their massive devaluation in the last few weeks. The concept of a digital currency is an important concept, but perhaps not in the way many may see it.
I prefer using the term "token" instead of "currency." I like to talk about tokens as a digital representation representation of an asset. Albero is currently working on a framework in Ethereum where any company asset can be represented. For example, we can represent "Inventory" as a token. Because a token is a special kind of smart contract, we can define subgroups of inventory. Two such groups, could be "Goods" and "Services." The smart contract can then define how these assets behave.
As we view assets in this way, it is relatively easy to transfer ownership of those assets using native Ethereum functionality.
I prefer using the term "token" instead of "currency." I like to talk about tokens as a digital representation representation of an asset. Albero is currently working on a framework in Ethereum where any company asset can be represented. For example, we can represent "Inventory" as a token. Because a token is a special kind of smart contract, we can define subgroups of inventory. Two such groups, could be "Goods" and "Services." The smart contract can then define how these assets behave.
As we view assets in this way, it is relatively easy to transfer ownership of those assets using native Ethereum functionality.
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