IBM, Chainlink, Microsoft Join Forces to Tame the Wild, Wild West of Crypto and Tokenized Assets Worldwide

Kolin Lukas

Tech giants Microsoft and IBM are two of the companies focused on accelerating innovation across a myriad of token ecosystems. Chainlink, which provides a network to securely connect external data across different blockchains, is also one of the more than 20 companies launching the InterWork Alliance, a new non-profit organization that plans to streamline the complex cryptosphere and world of tokenized assets by building standards and frameworks.

With thousands of cryptocurrencies trading across multiple platforms, along with all sorts of tokens representing data and transferring data, tech giants and enterprises are trying to bring order to the explosion of innovation by creating standards that allow consumers to engage in the new digital economy with ease and confidence.

The move underscores a growing effort among enterprises to use digital assets of all kinds, from cryptocurrencies to tokenized loyalty points, real estate and artwork, in a standardized environment.

According to the announcement,

“What is required is standardization at the business level, which would allow companies to be able to agree on distributed business…