The Enterprise Ethereum Alliance (EEA) is spearheading a blockchain-neutral
Token Taxonomy Initiative (TTI) targeted at enterprises. The project has attracted an impressive array of participants from across the industry including
Accenture, Banco Santander, Blockchain Research Institute, Clearmatics, ConsenSys, Digital Asset, EY,
IBM,
ING, Intel, J.P. Morgan, Komgo, Microsoft, R3, and Web3 Labs.
The aim is to collaborate to define token types and terminology that can be used industry-wide thereby enabling “interchangeable currency-like properties” or potentially unique assets. It’s targeting non-technical classifications and education as well as technical definitions.
“Standardizing tokens to work anywhere could hold the key to one of the greatest economic opportunities in modern history,”said EEA Executive Director Ron Resnick. “Just like standards that led to the rise of e-commerce on the internet, applying standards to tokenization will enable the enterprise to use tokens to serve as, or provide access to, a set of goods, financial assets, securities, services, value or content through enterprise blockchain applications.”
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