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The Syscoin Foundation and Blockchain Foundry will join the Dusk Network, Oceans Protocol, Odyssey, and others, to form a partnership with the 2Tokens Project.This Netherlands-based tokenisation project has the backing and support of the European Union, the Dutch Government, and leading Dutch universities.
Blockchain Foundry was founded in 2017 by the founders of Syscoin and they are presently the foremost developer of the Syscoin protocol. They deliver enterprise-grade business solutions for blockchain-focused companies and lend assistance to third-party organizations who wish to expedite their business processes on the Syscoin Platform.
Using smart contracts and high-speed transactions, physical assets can be digitally stored on the Syscoin blockchain, where ownership can be quickly and easily verified. Through tokenization, companies can also raise revenue via crowdfunding as well as enhance real-world services for their customers.
The current ecosystem requires standardization, however, and the 2Tokens Project seeks to create new rules and guidelines to ensure all developers of tokenization systems are connected and working harmoniously.
2Tokens Proposes Tokenisation Guidelines
2Tokens members will work toward the common goals of standardization and of highlighting the benefits of tokenization. Tokenisation is a channel through which disparate entities can better collaborate, and 2Tokens will attempt to build bridges across which discussions can flow easily and awareness of one another’s ideals, processes, and development plans can flourish.
Alex Bausch, the Executive Lead team of 2Token Project, said:
“Tokenisation will transform our economic landscape in much the same way that shares and stock markets did in the 17th century. For the 2Tokens movement, it is key that we create the right environment to allow these innovations to happen – so it is great that the Syscoin Foundation and Blockchain Foundry have come together to do what is necessary to realize this potential.”
Alex Bausch
Further explaining that:
“We understand that to achieve widely supported token regulation, we have to raise awareness, stimulate discussions and bring together knowledge and expertise. This will allow us to reduce barriers to adoption of tokenization and help realize wider societal benefits.”
Commenting on this partnership, Reinier Martens, the Syscoin Foundation Secretary, said:
“Syscoin Platform was established in 2014 and has been successfully working and advising on tokenization challenges since then. We look forward to bringing our valuable experience to the 2Token project and to successfully sharing our knowledge with the other members.”
Reinier Martens
Dan Wasyluk, the CEO of the Blockchain Foundry, said:
“We are excited to participate in the 2Token project which will help Blockchain Foundry share its vast tokenisation expertise to help structure standards and guidelines for organizations and further assist them in achieving their tokenisation goals. Our membership in the 2Token project will help us reach a new audience which understands the benefits of tokenisation and has the potential to introduce new partners and clients to BCF.”
Dan Wasyluk
In the coming years, Blockchain and Distributed Ledger Technology will play an integral part in the global economy. Syscoin is a multi-purpose blockchain that puts enterprises onto the blockchain; eliminating intermediation through redundancy, and leveraging distribution for security and autonomy. Derived from Bitcoin core code, Syscoin offers an environment in which businesses can build secure, low-cost, high-performance dapps on a truly scalable platform.
Features of the Syscoin Blockchain
Syscoin’s unique selling point is its proprietary Z-DAG technology, which allows for thousands of TPS without compromising security and decentralization. One use case for this high-speed network is Point of Sale (POS) portals, where merchants or retailers can receive instant payment for goods and services with a transaction throughput that exceeds mainstream credit card networks.
Alongside the attractive features of security, decentralization, and scalability, the Syscoin network will also be capable of interoperating with other blockchains. Two-way bridges can be built and connected to and from the Syscoin blockchain; a feature indispensable for adoption, and which prevents the ‘island of data’ between different ledgers that serve the same clientele.
For convenience, especially for smart contract developers, the first bridge will connect Syscoin with the Ethereum network; developers will be able to deploy dapps from Ethereum while leveraging features unique to Syscoin platform, including high-throughput transaction rates enabled by Z-DAG, and transactions secured by Bitcoin’s Proof of Work, via merge-mining.