tokenisation
/ˌtəʊkənaɪˈzeɪʃn/
Definition
The process of converting ownership or representation of a physical asset, such as raw minerals, into a digital token on a blockchain to facilitate easier trading, tracking, and financing.
Etymology
Derived from the Middle English 'token' (sign, evidence) combined with the suffix '-ise' and '-ation' to denote a process. It has evolved from referring to physical badges or coins to describing the creation of digital representations of value in modern finance.
In the news
In this article, tokenisation is used to create a digital ledger for critical minerals like copper and lithium. This allows companies to modernise supply chain management by transforming physical commodities into secure, tradable digital assets.
PSM & Datavault AI: US$700m Mineral Supply Chain Tech
Read the full article ↗Procurement Magazine