Introducing the 2Tokens foundation!
The 2Tokens foundation is an independent and neutral token advocacy group based in the Netherlands. They are working with Defactor, ABN AMRO, Crowdz, and more, to standardise the tokenisation of invoices.
2Tokens’ mission
2Token’s main objective is to reduce the barriers of adoption of tokenisation by raising awareness to this topic, stimulating relevant discussions between different actors, and bringing together knowledge and expertise to help realize the broader societal benefits of tokenisation. The multidisciplinary of tokenization requires that representatives from various fields, both from the private and public sectors, to participate in these discussions on how to implement the best tokenisation strategies.
2Tokens Use Cases
Every year, 2Tokens, along with its partners, works on three tokenisation use cases that are then turned into business cases. The current use cases that are being developed for 2022 are:
1. Tokenisation of Energy — blockchain technology allows for the creation and trading of energy tokens and this use case aims to develop an infrastructure to support energy tokens and embed them in the currently available infrastructure.
2. The Digital Notary — this use case aims to find a way to change the standard on corporate structuring and the trading of private shares and is meant to comply with the European Union’s Directive 2019/1151, which mandates that every European country has to offer complete digital incorporation of limited companies.
3. Invoice Markets — the tokenisation of invoices, by creating NFTs (Non-Fungible Tokens) that represent them, allows for these receivables to be sold to investors, as well as distributing the balance sheet risk.
Defactor [Official] is a platform that is tokenizing real-world assets, with a focus on receivables, to unlock capital through DeFi for growing businesses and has partnered up with 2Tokens on their Invoice Markets use case. The first service that Defactor has implemented in its platform is the possibility of businesses financing themselves through the tokenisation of invoices but as it grows, it will move on to other use cases such as real estate and digital assets.
How a token standard can change business
Currently, there is no standard invoice format. The verification of invoices is also a cumbersome process that can lead to double spending issues and manual payment errors.
By standardising the invoices format, different protocols can more easily collaborate with each other and trade their invoices in the form of NFTs. Standardisation also helps reduce the barriers of entry for companies that are looking to finance themselves through DeFi, as well as measuring different KPIs, which will be important for the future of the tokenisation industry.
Defactor aims to be in the forefront of the standardisation of tokenisation of invoices and has partnered up with 2Tokens to participate and advocate for this process.
I invite everyone to subscribe to 2Token’s newsletter and follow Defactor [Official] on Twitter and LinkedIn to join their journey!
