PRODUCT PROTOCOL ON TOKENIZATION OF ASSETS
Tokenization involves the replacing of sensitive data with unique identification symbols that retain all the essential information about the data without compromising the security of the data. Tokenization, which seeks to minimize the amount of data a business needs to keep on hand, has become a popular way for small and mid-sized businesses to bolster the security of credit card and e-commerce transactions while minimizing the cost and complexity of compliance with industry standards and government regulations.
Payment card industry (PCI) standards do not allow credit card numbers to be stored on a retailer's point-of-sale (POS) terminal or in its databases after a transaction. To be PCI compliant, merchants must install expensive end-to-end encryption systems or outsource their payment processing to a service provider who provides a "tokenization option." The service provider handles the issuance of the token value and bears the responsibility for keeping the cardholder data locked down.
In such a scenario, the service provider issues the merchant a driver for the POS system that converts credit card numbers into randomly-generated values (tokens). Since the token is not a primary account number (PAN), it can't be used outside the context of a specific unique transaction with that particular merchant. In a credit card transaction, for instance, the token typically contains only the last four digits of the actual card number. The rest of the token consists of alphanumeric characters that represent cardholder information and data specific to the transaction underway.
Tokenization makes it more difficult for hackers to gain access to cardholder data, as compared with older systems in which credit card numbers were stored in databases and exchanged freely over networks. Tokenization technology can, in theory, be used with sensitive data of all kinds including bank transactions, medical records, criminal records, vehicle driver information, loan applications, stock trading, and voter registration.
Product Protocol is an open source protocol focused on crowdfunding/crowdlending campaigns based on the issuing of digital assets, integration with all business processes, funds management, and financial operations.
Product Protocol is focused on creating a platform that allows an entrepreneur to tokenize their assets and raise funds for scaling. Companies on Product Protocol can scale further than ever before. A universal token for the tokenization of any assets allows you to instantly create a digital asset and a decentralized market will enable people from all over the world to purchase it.
PRODUCT PROTOCOL has a large market in terms of available users which can use the services of the platform. Some of which include:
- TRADERS who are self-initiated and seeking to profit directly from the trading process.
- ASSET OWNERS: Private owners of various assets who want to get an additional source of income.
- REAL BUSINESSES: Real sector medium and small businesses needing funding.
- INVESTORS: Individuals who are willing to invest in Initial Coin Offering(ICO)/Crowdsale projects and professional investors who want to diversify their data sources.
SMART ID: This feature allows users to register their identity, send and request credentials data, sign transactions and securely manage keys and personal data.
SMART ESCROW: This involves a large number of smart contracts which ascertains the possibility of asset tokenization, its authenticity and credibility through its decentralized network of services and providing legal compliance based on current regulatory standards.
LIQUIDITY FUND: Liquidity is a major concern for blockchain projects, especially relatively new ones, by providing a liquidity fund for digital assets, it facilitates the liquidity of digital assets on the PP platform.
SCORING SERVICE: This makes it easy to ascertain the viability of a project and its tokenization based on project research and analysis system for a decision on subsequent tokenization.
DECENTRALIZED MARKET: This a free market where users can trade virtual assets in a safe and secure environment.
Product Protocol has numerous application for businesses, traders, and investors. By offering numerous value propositions of top notch quality, Product Protocol solidifies its position as a superior platform. Some of the applications of Product Protocol:
(i) Personal asset management.
(ii) Attraction of financing.
(iii) Management of risks.
(iv) Asset management and cost-effectiveness
(v) Open Tokenization Protocol Framework
Product Protocol is an innovative financial system that includes several applications designed to solve problems existing in the field of cryptocurrency. A universal token for any asset allows you to instantly create digital assets and decentralized markets that will allow people from all over the world to buy them. Despite the rapid growth in the popularity of virtual currencies, their use in everyday life is still a problem. The main reason for this is the high level of volatility of digital assets, which makes it impossible to use them as a reliable means of paying for goods and services. It should be noted that not every market participant is ready to accept cryptocurrency as payment since fluctuations in value per day can be from 7 to 15 percent.
Product Evaluation Services: Evaluation Administrations for assessing and tokenizing resources, collecting first benefit data, scientific data and resource tokens.
DAsset system: This is a distributed structure that checks data on physical and additional resources, owners of the Advanced level are substituted. Moreover, there are associations with compartments and resources.
DAsset: A circulating computerized compartment or set of metadata that sets out everything that produces.
Product Protocol has its native cryptocurrency PPO which is being offered to the public through a token sale exercise. More details on the token and the exercise can easily be found below:
In conclusion, I would like to say that such a project has every chance of success in a crypto-community and bring profit to its investors in the near future. A team of professionals that stands at its origins, a clear development plan, ideology, and relevance makes the Product Protocol an advanced platform that helps the cryptocurrency sphere make a breakthrough in the future.
Use any of the following links to find out more about PRODUCT PROTOCOL or to become a member of the community:
Website : https://pprotocol.io/en/
Whitepaper : https://d3ri2ictv4c1x9.cloudfront.net/PP_WP_e.pdf
Facebook : https://www.facebook.com/pprotocolio
Twitter : https://twitter.com/Pprotocolglobal
Medium: https://medium.com/@p.protocol
Telegram : https://t.me/productprotocolio
AUTHOR BTT: SEXAPHILIAC
BTT LINK: https://bitcointalk.org/index.php?action=profile;u=2435036
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