Every organization will need a Token Factory.
WHAT IS A TOKEN
The token is a single mathematical digital unit (MDU) represented by SW lines of code. One token is the minimum common denominator of a set (dozen/hundreds) of processes and unilateral or multilateral contracts. The token is a MDU circulating on a distributed ledger. WHAT DOES THE TOKEN DO The token represents: (i) assets, and/or (ii) contractual obligations, and/ or (iii) different states (waiting for a confirmation, certifying an offer, etc.) WHAT IS THE TOKEN FACTORY The token factory is an internal or outsourced
LEGAL/ACCOUNTING – SW house.
HOW WILL THE TOKEN FACTORY IMPACT THE ORGANIZATION
The token factory will serve the organization functions on a horizontal level.
TOKEN FACTORY Marketing Finance HR Accounting/Legal Commercial
WHAT ARE THE EXAMPLES OF A TOKEN FACTORY PRODUCT?
1.One token could represent hundreds of contracts (order, sell, mooring, cooperative workers, escrow agreement, first demand bank guarantee, etc.) in a supply chain process. Instead of activating say 200 contracts for every process you buy one token (incorporating such 200 contracts) and you set the smart contracts obligations once with a predetermined set of oracles (so that the smart contracts will interrelate and execute amongst each other). 2.One token could represent all the HR history of an employee (hiring, upgrading, de localizing – set of employees under him – disaggregated pay roll, etc.) and could be, in a selected privacy mode, a certification for credit applications (new car leasing) or lease agreements (for the employees family). TOKEN FACTORY 2 3.One token could represent the origination, transformation, aggregation, disaggregation of the original core product with an added layer of sustainability certification (in terms of representations to the investors) and standards compliance (allowing the product to sit in a certain asset class).
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