A Full Dive Into Tokenization #002

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Hello great minds,

It is a wonderful opportunity to come before you all today to discuss on an issue of great importance in the cryptospace.

I trust you are doing perfectly well and are enjoying your activities in the community as we join hands in promoting steemit across all social media platform.

Today we shall continue our conversation on tokenization.

In our last discussion, we learnt about Tokenization where we also discussed about the technology behind Tokenization.

And we also went further to discuss about the application of tokenization but we couldn't discuss all application of tokenization and as such, we shall continue our discussion today.

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APPLICATION OF TOKENIZATION

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There are several applications of Tokenization in the world we live in today, and we shall be examining some of this applications.

• FINANCIAL MARKET:

One major application of tokenization is in the financial market.

With this use of tokenization, tokenized assets can be used to streamline the trading and settlement processes, thus increasing transparency in the market.

Also, with it streamlining trading processes, it helps to eliminate the need of third parties in the financial system.

And this makes the operation of the financial market very effective and less costly.

• ART AND COLLECTIBLES:

Another effective application of tokenization is in art and collectibles.

Through the tokenization of art and collectibles, the facilitation of ownership transfer and provenance tracking can be made possible.

This process plays a huge role in ensuring that fraud and forgery is reduced in the market.

With the power of provenance tracking, any suspected fraudulent activity can be tracked and the offender seriously punished.

• SUPPLY CHAIN:

The supply chain is another very important application of tokenization in the world we live in today.

The authenticity of goods in the supply chain can be tracked with the help of tokenization.

Without tokenization in the space, it will be difficult for the authenticity of goods in supply chain to be tested and this means there will be lots of counterfeit goods flowing on the chain.

The implementation of tokenization helps to enhance transparency in the activities being carried out on the chain.

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CONCLUSION

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We have examined some applications of tokenization in our world today.

We have seen how it helps to enhance transparency in various sectors of our world.

In our next discussion, we shall learn more about tokenization.