Process of tokenization
Although tokens and cryptocurrencies have common features, tokens are much more than meets the eye as they can be used for substantially more purposes. As part of a private network, they can be used as remuneration for work or data or property rights transference. Tokens emerge out of the process of tokenization.
Automation of financing which comes with tokenization is beneficial to all involved since it allows them to forego unnecessary middlemen and a reduction in paperwork. Most of all, possibly, it converts a particular value to a digital resource adding an additional layer of security to digital payments. It is this transaction security coupled with transparency that speak to the efficacy of tokenization.
Distribution of profits
Tokens make possible a fair distribution of profits and other financial benefits among investors associated with a given project. Anything that carries any value can be tokenized. Tokens can be thought of as assuming three forms based on their stated function:
- utility tokens,
- security tokens,
- payment tokens.
Token genres
Tokens have a strictly defined purpose based on the category they belong to. Utility tokens are mostly concerned with practical applications within the platform they belong to. They are mostly used to fundraise toward a project’s further growth. Utility tokens are also used to run an ICO (Initial Coin Offering) which is a form of crowdfunding. Investors who purchase these kinds of tokens are motivated by the promise of returns brought on by their project of choice generating a profit.
Security Tokens are much like securities in that their main feature is making sure that investors holding them are afforded the greatest amount of safety imaginable. The issued tokens are then backed by particular assets such as shares and bonds.
Payment tokens are used mostly for payments and their greatest limitation is that there are hardly any other applications for them. Nonetheless, the tokens themselves do streamline the payment process, makes transactions easier and the division of returns fair.
weeGroup is well aware of all the benefits and new possibilities afforded us by new technologies such as blockchain and tokenization. This includes online merchants, retailers and consumers alike. wee take care of all weeUsers!
The weeMarketAccess token guarantees all weeUsers (both merchants and clients) access to the outstanding weeMarketplace platform.
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