BRIDGING THE DIVIDE BETWEEN PHYSICAL AND DIGITAL ASSETS
As blockchain technology and cryptocurrency continue to gain popularity within the global business space, especially with the current seemingly positive market condition with prices looking towards the upside after over thirteen months of a steady decline, the major question of establishments and businesses looking to employ blockchain technology is " how can we tokenize our businesses or other physical assets"?
The funds raised by projects through Initial Coin Offerings have been in a steady decline with projects seeking to adopt more lucrative alternatives, a major one being 'reverse ICO'. This usually involves the tokenization of an already existing business rather than seeking funds from the public to start up a venture or project. This model serves to increase the trust of investors in the project considering the fact that the team project is already functional and only migrating to the blockchain through the tokenization of its assets.
Tokenization involves the creating or issuing of digital assets (tokens) which correspond to physical assets. These assets can easily be sold and purchased to raise funds for a particular business, provide access to services of the project/business or even serve as ‘digital shares’ in the project, depending on the type of the token issued. Security tokens provide holders with proprietary rights as stakeholders in the business franchise, while utility tokens are used to access the services of the issuing project or business. Asset tokenization makes it easier to reach a wider market and utilize the distributed ledger of the blockchain.
Asset tokenization can be very difficult, consuming a lot of time, technical and programming expertise, and funds. Also, upon tokenization, the problem of low liquidity is a major obstacle that cannot be overlooked.
Product Protocol realizing that the next wave in the blockchain and cryptocurrency market growth will involve the tokenization of businesses and physical assets, which is currently visible in the ‘reverse ICO’ model, has developed a platform for the easy tokenization of businesses, and physical assets in general.
Product Protocol provides a platform for the tokenization of physical assets, uniting the markets of physical and digital assets through the use of blockchain technology while ensuring liquidity for those ‘digital assets’.
Product Protocol employs a straight-forward process in determining the viability of the tokenization of a particular physical asset. The process involves asset Verification, and then Digitalization which involves a comprehensive criteria-based evaluation process. The Asset status is then monitored and the Asset ownership Identification proven and verified. Once these conditions are satisfied and the process completed, Asset tokenization occurs.
Product Protocol has numerous features that provide a secure ecosystem for the easy tokenization of physical assets, asset monitoring, and asset exchanging. These features include:
Smart ID: Smart Identification(ID) is an intelligent feature for the registration of the identity of users in order to enable them to access the services of the Product Protocol platform, carry out transactions, send and request credentials, and also manage personal information. The Smart ID identificators of Product Protocol can easily be recognized as registered addresses in social networks which are managed using private keys. Each user has a unique digital identity which consists of both public and private data which meets identity standards.
DAsset and Virtual Token: One of the most important features of digital assets is its ‘digital container’ which stores all the relevant data about the asset. The DAsset is the decentralized digital container, also known as metadata, which contains the relevant asset data stored time sequentially (chronologically).
Virtual Token also referred to as Product Asset is an asset verification token. It contains the relevant data on the tokenized physical asset like the public indices of the asset and the public key infrastructure of the hierarchy of ownership of the asset.
Decentralized Exchange: The Decentralized Product Exchange (DPE) consists of numerous smart-contracts which facilitate the exchanging of tokens as atomic operations, enabling direct token exchange. The exchange of data between smart-contracts is done by proxy smart contracts in order to ensure that the DPE smart-contract data is updateable and not altered. Proxy smart contracts because of the important role they play are controlled through a multi-signature wallet or DAO for extra security.
Decentralized Marketplace: The decentralized marketplace, provides the details of digital assets on the Product Protocol platform, obtained from the DAsset, serving as a platform to easily locate relevant digital assets available on the platform for purchase. This significantly shortens the supply chain by reducing intermediaries, while helping create more awareness about the asset.
Product Protocol Escrow: One of the major challenges on a platform where assets are exchanged is security and transactional integrity. Product Protocol has its native escrow to ensure that transactional integrity is always ensured and asset security guaranteed. The escrow comprises numerous DAO smart contracts which protect transaction participants and their assets. The Product Protocol escrow is also invulnerable to Sybil attack.
Product Scoring service: This was developed in order to ensure asset quality through auditing. Most businesses, due to the high cost of an audit, hardly ever conduct one. The Product Protocol scoring service is a versatile alternative which ascertains the quality of an asset through evaluation and audit.
Product Protocol also has other relevant features like the Token Curated Registries(TCR), TCR Incentive System, and Voting which aid in making Product Protocol deliver quality services and reward contributors to the growth of the platform.
The native token of the Product Protocol platform is the Product Protocol token with the ticker PPO. PPO is being offered to the public through a public token offering. PPO has a limited supply with a maximum supply cap of 100 000 000.
Use any of the following links to find out more about PRODUCT PROTOCOL or to become a member of the community:
Website : https://pprotocol.io/en/
Whitepaper : https://d3ri2ictv4c1x9.cloudfront.net/PP_WP_e.pdf
Facebook : https://www.facebook.com/pprotocolio
Twitter : https://twitter.com/Pprotocolglobal
Medium: https://medium.com/@p.protocol
Telegram : https://t.me/productprotocolio
AUTHOR BTT: SEXAPHILIAC
ETH WALLET: 0x490e4183b2C277A9D125fe0A554bEFC9400D681a
BTT LINK: https://bitcointalk.org/index.php?action=profile;u=2435036
UNIQUENESS: https://imgur.com/a/Nm7lfvV