Berlin – tokenization of the economy – what does that mean? To put it simply, it is about digitizing values - in the context of a decentralized administrative structure, such as that represented by a blockchain for cryptocurrencies. the Initiative „Tokenise Europe 2025“ of the EU Commission of the German Banking Association and many partners emphasizes how important this digital change is.
Why? According to a recent report by the Tokenise Initiative, Europe must become more attractive for digital business models in order not to get lost in global competition. In addition, this technology of decentralized digital accounting (so-called distributed ledger infrastructure) could become the basis for many innovative services and business models.
Simple rules and digital skills
Supply chain management, trade finance or public services – tokenization will be used in a wide variety of areas, according to the initiative. The advantage is that the decentralized digital technology ensures seamless and efficient processes, reduces complexity and improves efficiency, security and trust in the processes.
A simple set of rules and better digital skills – these are necessary to promote innovation in the field of decentralized digital processes, demands “Tokenise Europe 2025” in its current report “Should Europe develop into a token economy?” The management consultancy Roland Berger and 20 partners from EU countries are also part of the project.
A day in a tokenized world
What exactly does tokenization mean? The report aims to illustrate this using a daily routine in 2030. We will then no longer “go online”, it says there, because being online is an integral part of life.
A world with intelligent and proactive things is outlined, from the smart watch, which analyzes fitness while you are asleep, to the intelligent refrigerator. People pay with digital euros and store assets in a digital wallet.
