PALO ALTO, Calif., July 29, 2021 /PRNewswire-PRWeb/ -- With digitization, businesses and merchants worldwide have learned how to put their merchandise and services online. Digitization of businesses has met with resounding success even as the buyers were offered a view of the product.
"Tokenization is a step beyond digitization, where a crypto token represents an asset or ownership rights to a business," explains HashCash Chief and blockchain pioneer Raj Chowdhury.
"Anything of value and growth potential may be tokenized by fragmentation, and digitally representing it through a token."
Utility tokens are issued as user tokens. These are offered during crowdfunding as a project executes an ICO or an IEO.
"A utility token is designed in the form of a digital coupon to be redeemed at a future opportunity and with offers of a discounted price or special access to merchandise or services," continued Chowdhury.
A utility token differs from a security token in that the latter is considered as an investment while and comes under regulations from federal governance. A correctly designed utility token, on the other hand, can be exempted from federal laws governing the securities.
"Implementing the utility token may work as a tool to enhance the sales of the product and expand the reach or customer base of the company, pitching it on the global orbit."
"In the beginning, cryptocurrency was simply a digital bearer of a sum of money. By the turn of a decade, many recognize its potential and structure it in the form of a digital bearer of value tied to a business. The token can be held by supporters across the globe."
HashCash Consultants, a blockchain development company headed by Chowdhury engages in multiple projects designing digital tokens of value linked to a growing business prospect. HashCash team has architected utility tokens based on diverse business ideas that are currently operational.
"A lot can happen when a business idea is appropriately aligned to a blockchain and is linked to a digital token. What the world sees today is what we have been iterating since the inception of our company," concluded Chowdhury.
About Raj Chowdhury:
Raj Chowdhury is the Managing Director of HashCash Consultants and a Blockchain pioneer. Raj pioneered the first interbank Trade Finance and Remittance implementation of Blockchain Technology between two of the largest global banks. Raj is an eminent voice in the Blockchain and Cryptocurrency space and actively engages with policymakers in this area. He is a contributor to Economic Times, Business World, CNNMoney and advises industry leaders in the adoption of Blockchain. Raj had been a research associate at MIT's Microsystems Technology Lab. He went to Tufts University, Santa Clara University, and the Fletcher School of International Law and Diplomacy for MS, MBA, and other certifications. He is a member of Asha Silicon Valley, a nonprofit committed to education for children in emerging countries. Author of the book 'The Dark Secret of the Silicon Valley', Raj is an investor in blockchain and cryptocurrency companies and an active member of the philanthropic community.
Media Contact
COLEEN F, Hashcash Digest, +14159662907, [email protected]
SOURCE Hashcash Digest
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