Efficient Tokenization of Assets Powered by DigitalBits

Industrialization has brought about a lot of competition in diverse industries. Companies/ corporation jostle for customers attention on various levels. Today, companies of the world have derived various innovations to stay ahead of their competitors and Loyalty and Reward Point (LRP) programs have become a norm to both incentive consumers of goods and services as well as to create a lasting relationship between both parties. The effectiveness of most lRP schemes has become questionable lately, conventional LRP programs are non tradable and transferable, pose unnecessary limitation on accumulation and redemption of points by users, there is a high operational cost of running LRP programs, and lastly lack of transparency and interoperability of LRP programs has reduced the appeal to customers and defeated the aims of the entire program which is to engage and incentive loyal customers.
Introducing DigitalBits

DigitalBits is a one of a kind project that wishes to facilitate mass adoption of blockchain technology on an enterprise level and has found a unique use case in the LRP programs of diverse enterprises by providing tokenization digital assets on the blockchain. With DigitalBits this tokenized assets will have high liquidity, will also be cost-effective for enterprises compared to the traditional LRP programs, and provide convenience for participants of LRP programs since they can have all their LRP programs integrated on one app. DigitalBits seeks to provide easy asset tokenization for enterprises, an easy to use platform for LRP program users in which digital assets are tradable and lastly a remit and payment option powered via the blockchain. Although blockchain and cryptocurrency provide unique features for the tokenization of assets majority of the blockchain projects have proven to be unsuitable at an enterprise level as a result of issues such as scalability, a high cost of transaction, poor confirmation time as well as lack of compatibility. The DigitalBits blockchain boast of superior features compared to other blockchain with supports for tokens and is unique due to the presence of a token name certification service (TNCS) that prevent scrupulous entities from issuing illegitimate tokens with ulterior motives.

Core Features of DigitalBits

1. DigitalBits boast of an Agent-Oriented Modeling (AOM) methodology consisting of humans, hardware agents, and software agents and is designed to facilitate both technical and non-technical stakeholders interaction within the system. Asides from facilitating easy asset tokenization using a transaction and trading layer for digital assets, this methodology is designed to ensure scalability and decentralization of the system, support easy integration with plugins and applications built by third-party developers and provide a reliable and compliant environment for transactions where this tokens are tradable and can be used for payment and remittance.
2. The DigitalBits network is consist of entities such as DigitalBits cores, frontier, wallet and applications and a technological stack consisting of bridge server, federation server, and compliance server. The DigitalBits core is the backbone of the DigitalBits platform and the key roles of the platform are played by the nodes of the DigitalBits blockchain. The DigitalBits Blockchain is a fork of the stellar blockchain designed to have higher transaction per seconds, proposes a cheaper transaction cost and a tailor-made blockchain for tokenization of assets.
3. The DigitalBits platform possesses a unique tokenization model where users of a token establish trust parameters in the on-boarding process, then the platform institutes a Token Name Certification Service (TNCS) that is unavailable in other blockchain projects that support tokens such as ethereum, stellar lumen, and waves. On this above-named platforms, any tom dick and harry can issue tokens with similar names to established projects in order to rip off unsuspecting users but the DigitalBits platform mitigates these problems of validation and authentication of digital assets via TNCS. A decentralized Multi-Hop exchange is also put in place to ensure liquidity of digital assets from LRPs programs where this token can easily be traded. Another intriguing aspect of the project is the ability to facilitate cross-asset payment in which holders of a digital asset(LRP) can access services obtainable via another LRP program.
4. XBD is the native currency of the DigitalBits platform and serves the following purposes: It plays protective and safety functions by serving as a requirement to use DigitalBits services, it's used for payments of transaction fees on the platform and lastly plays a significant role as a medium for payment and remittance. XBD has a maximum supply of 100 billion units and is currently available for sale in an Initial Coin Offering(ICO) that started on the 1st of March 2019 and is scheduled to end on the 31st of March 2019.
   

Conclusion
One of blockchain technology remarkable features is its ability to tokenize non-digital assets on the blockchain. Asides from LRP programs, the DigitalBits platform can be used at diverse enterprise level in need of high-quality tokenization service and the unique features of the DigitalBits platform compared to other blockchain projects makes it a better fit for the token economy.
For more information on DigitalBits platform check out the following channels:
Website: https://www.digitalbits.io/
Westart: https://www.westart.co/project/digitalbits-presale
Twitter: https://twitter.com/DigitalBitsOrg?lang=en
Telegram: http://t.me/digitalbits
Ann thread :https://bitcointalk.org/index.php?topic=5026550.0

Authors details:
BTT name : Mrsparks
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