Today, the cross-industry Token Taxonomy Initiative (TTI)
published its first framework, with guidelines and standardized token ‘recipes’. The
Token Taxonomy Framework (TTF) V 1.0 enables enterprises to create blockchain-neutral tokens with comprehensive definitions and terms.
The TTI was
launched in April by blockchain consortium Enterprise Ethereum Alliance and includes high profile participants Accenture, Adhara, Banco
Santander, Clearmatics, ConsenSys,
Digital Asset, EY, Hedera Hashgraph,
IBM, Intel, ioBuilders, Itau, J.P. Morgan,
Komgo, Microsoft,
R3, and Web3 Labs. Less than a month ago, the group worked on
definitions for a token-based incentivization system.
Now, the TTI has released its first framework. Along with standards and definitions of tokens, it includes business-ready token specifications or ‘recipes’. These are based on real use cases, such as Digital Asset’s
smart contract tokenization and Microsoft’s Azure Blockchain Tokens.
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