Fireworks...you know what I mean? 
So the tokenization of assets in the real world like invoices and digital world, like
investment shares DROP and TIN in Centrifuges example...is going to be a big wave coming.You don’t have to look far to these, tokenization is on the top of tech powerhouse minds...likeMicrosoft...they published this paper “Tokenization: Establishing Digital Representations of Valueas the Medium of Exchange” in October of last year.And they say “However, hidden in plain sight, at the core of one of the most hyped and misunderstoodtechnologies, blockchain, lies an immensely powerful concept that will forever changethe way transactions between parties execute.
And that is….Tokenization
They specifically mention Non Fungible tokens in the report, and they mention their token
taxonomy framework, TTF, of which I have covered before, but from a blog post about the frameworkrelease from Microsoft, It says “The initiative brings together some of the most importantblockchain platforms from the Ethereum ecosystem, Hyperledger and IBM, Intel, R3, and Digital
Asset….
I wonder why?
Because that is what they are choosing to build the TTF tools on first, and then theother blockchain...Per example, the github for it which as we can see the overview was updated in May ofthis year.Going down to the section on Tooling and Taxonomy...it says “Other GitHub repositories can linkto the taxonomy repository to link implementation specific code to specific taxonomy symbolslike a behavior or token specification.This code is then mapped as a platform specific implementation of that artifact.For example, in the Ethereum community OpenZeppelin there is a popular open source repositoryfor Solidity source code that developers use and is mapped to several artifacts in theTTF.
So why is this important?
Well a non crypto news outlet in the payments industry explained it well.From a payments journal article, titled “Look out Payment Providers!A Standard Is Born for Defining a Token’s Properties and Behaviors” The article says“Card payment networks have implemented proprietary tokens that establish a uniquemapping between card numbers, card accounts and the network issued token that residesin a digital device.More recently, both Mastercard and Visa have announced that they intend to use a new tokenizationprocess that will enable direct access to bank accounts that have no card associatedwith them.These private tokenization efforts will now compete with a new open standard for designingand implementing tokens created by the Enterprise Ethereum Alliance (EEA).Ya friends, I'm talking this is what allows crypto to go mainstream, where a token, whetherit be ethereum, an erc20, a stablecoin, an NFT, loyalty points and more could be acceptedfor payment at your local stores.
Why didn’t I talk about other blockchains and tokens?
Well the article goes on to say “While the press release touts that the Token TaxonomyFramework is independent and is operational on any technology, including blockchains ordatabases, it appears that the GitHub repository leans towards the Ethereum environment...Forexample, the article goes on to identify a Santander implementation of a TTF token thatis tied to an Ethereum smart contract which restricts access to “entities who’d passedthe know-your-customer (KYC) regulatory process.”Hmmm need more confirmation they are going with Ethereum?Let just go to Microsoft azure’s blockchain tokens, which as we can see developers can“Easily define and create Token Taxonomy Framework compliant tokens that representdigital or physical assets”
Let’s go a bit deeper, and look into azure blockchain documentation and then scroll down
to development tools and samples.
And lookey there...azure blockchain development kit for….Ethereum & then an ethereum blockchain
connector.
As well as github code samples.So the signs are there, on the surface level, but what exactly has Microsoft the company
built themselves.
Well NFTs based on the ethereum erc1155 standard….I’m sure you're like who wait, who created that
token standard...I know Microsoft didn’t...it was a blockchain company...Well it was Enjin, and it happened in December of last year.From the blog post about the NFT reward badges they created it was “A collaborative pilotprogram between Microsoft Western Europe and Enjin, Azure Heroes rewards developers withblockchain-based digital badges—styled as badgers—for various achievements, verifiableacts of impact, and meaningful contributions in the developer community.And there was even a custom blockchain explorer for the NFT badges, created with EnjinX andMicrosoft’s logo plastered right there.And going to the transaction section, we can see that yes the badges are being earned bythe public, to ethereum addresses and they are being transferred back and forth.The pilot is working!So, I see the opportunity for NFTs, as it’s a brand new arena.The end of 2017 can be considered the beginning of the ERA, so basically just over a coupleyears old.
Then going to nonfungible.com...which has began tracking NFT sales volume, that almost
100 million dollars USD has been traded for a digital representation, since they begantracking.So 100 million since the beginning.
Cheers viewers, I’ll see you next time!
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