CoinGeek £5M token solution winner ‘Tokenized’ releases white paper

The white paper of Tokenized, winner of CoinGeek’s £5 million contest to put a tokenization solution on the Bitcoin BCH chain, is now available for public preview.

Tokenized is an on-chain token system designed exclusively for the BCH network, and proudly uses the original Satoshi Vision (SV) design of Bitcoin. The team behind the project, James Belding, Samuel Georges, Scott Barr, Farid Uddeen, and Brendan Lee, took inspiration from Joannes Vermorel’s visionary work, Tokeda, for this tokenization solution.

In its open-source white paper (available in pdf), released on Nov. 13, Tokenized noted that its protocol does not “colour a coin” in a classical sense. Colored coins are known are a way of customizing Bitcoins, making it possible to create unique tokens that can still be exchanged for value. In the case of Tokenized, however, the token balances “are recorded in the OP_RETURN payload and accounted for by the associated off-chain Smart Contract (an autonomous agent) with respect to the terms and conditions of the contract, as well as the state of the blockchain (e.g. max supply of tokens).”

This means that no satoshis are “consumed” to represent a token, which, in turn, decouple “the quantity and value of tokens on the network from the use and value of Bitcoin as a currency”—aka, the solution does not require burning BCH coins to create tokens, nor does it create a separate token layer or other protocol changes (unlike the controversial Wormhole protocol supported by Bitmain Technologies). Tokenized’s smart contract code and protocol specification are available on Github here and here.

The team explained, “This is an important design feature with respect to its impact on the stability of Bitcoin’s supply relative to other goods and services. A fixed quantity of money has merit, but a highly deflationary money supply can cause problems in an economy, just as a highly inflationary money supply can. The cost of coloured coins is also likely to become prohibitive as the price of Bitcoin Cash rises to a more stable valuation.”

By building the solution on the back of the Bitcoin BCH network—as opposed to other blockchains or database—Tokenized allows anyone around the world to create and operate their own smart contract on the BCH chain using customizable terms and conditions. Then, they can use the smart contract to facilitate the issuance, management, and exchange of a wide array of useful tokens, from financial assets like stocks, bonds, notes, futures and asset-backed securities to tickets for movies, transportation and events, or even credit and point systems as well as licenses.

According to the Tokenized team, “…the value of Smart Contracts goes well beyond enabling token management functions. Smart contracts also offer the potential to significantly increase the efficiency of common economic interactions while also providing predictable, transparent and fair methods to settle disputes, which may reduce the need for lengthy and costly legal proceedings. Low-cost and standardized Smart Contracts—especially combined with a reputation system to guide Users on the fairness and robustness of various standardized contracts—can go a long way towards empowering organizations of all sizes for any legal interactions they may face.”

To learn more about the Tokenized solution, come to the CoinGeek Week Conference in London on November 28-30, with a special invitation-only event for Bitcoin BCH miners and representatives taking place on November 27James Belding will be speaking about Tokenized, and the entire Tokenized team will be attending the CoinGeek Week main conference at The Mermaid, Puddle Dock in London. Also, join the (free) bComm Association. Tickets to the CoinGeek Week Conference, where you can learn from the most influential thought leaders about the implications of the world’s first Bitcoin Hash War fought according to Nakamoto Consensus, are on sale now.

And because it believes the BCH ecosystem can benefit from even more token solutions that advance the Satoshi Vision, CoinGeek is keeping its tokenization contest open with a secondary award of £1 million available. Further details can be found on CoinGeek.com’s contest page.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

The post CoinGeek £5M token solution winner ‘Tokenized’ releases white paper appeared first on Coingeek.

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CoinGeek宣布“Tokenized”项目为比特币现金BCH代币解决方案的500万英镑竞赛赢家

2018年11月1日——CoinGeek很荣幸地宣布其500万英镑竞赛的赢家。此次竞赛目的是为比特币现金BCH区块链寻找领先的支付标记化解决方案。获胜项目为“Tokenized”,这是一个专为比特币现金(BCH)网络所设计且遵循最初的比特币“中本聪愿景”的链上代币系统。Tokenized 团队成员来自澳大利亚及新加坡,包括詹姆斯·博尔丁(James Belding)、塞缪尔·乔治斯(Samuel Georges)、 斯科特·巴尔(Scott Barr)、法里德·乌登(Farid Uddeen)及布伦丹·李(Brendan Lee)。

Tokenized将现有的比特币现金(BCH)协议与标准的开源智能合约相结合,与当今任何其他系统相比,其成本更低,表现力更强,而且更安全。通过Tokenized,现在世界上任何人都可以在比特币现金(BCH)网络上使用定制化的条款和条件以创建和运营自己的智能合约。他们随之可以使用智能合约来促进那些代表现实资产的代币的发行、管理和交换。

Tokenized协议可以创建和交换多种用途广泛的代币,包括:

· 金融资产,如普通股和优先股、固定利率债券、浮动利率债券、期货、远期合约、掉期交易、期权、奇异金融衍生产品、货币、资产担保证券、债务抵押债券;
· 票券:电影,活动,航空旅行,交通和其他活动等;
· 信用和积分系统(优惠券、忠诚积分、碳信用、会员资格);
· 许可证。

Tokenized的独特之处在于它专注于帮助公司处理现实世界的合法合规问题。真实企业希望遵守适用于其代币的法律(如证券法规),且大多数投资者和客户也希望得到法律系统的合法保护。该原则是Tokenized的设计核心,它让代币发行者有能力遵循世界上任何机构、州或国家的法律法规。它还为代币发行者提供工具,使其能够执行适用于其代币的法律,并允许组织执行各项投票(如股东投票、公投等)的治理功能。一切全在链上执行。

CoinGeek创始人卡尔文·艾尔(Calvin Ayre)表明:

“随着比特币现金BCH准备大规模扩容,我们一直在等待代币解决方案以刺激比特币现金
(BCH)使用量的快速增长。Tokenized解决方案允许多种资产的支付标记化。它将引发有用代币的“寒武纪大爆炸”,使各种行业商家和更多以比特币现金(BCH)为载体的应用在使用代币上呈爆炸性增长。CoinGeek很荣幸地将我们的竞赛冠军奖颁发给Tokenized,并全力支持该项目正在进行的工作,以期望展示比特币现金(BCH)的全部潜能。”

Tokenized系统从多个方面证明原始比特币中本聪愿景的可行性。它充分利用比特币现金(BCH)协议现存的技术特征,例如OP_RETURN中的元数据;它不需要任何新的op_codes或其他协议更改。它是一个链上解决方案,不会创建另外的代币层(与Bitmain Technologies所支持但富有争议的虫洞协议不同)。此外,Tokenized不需要燃烧比特币现金(BCH)货币来创建代币(同上,与虫洞协议不同),因此不会扰乱比特币系统的经济激励性和安全性。

nChain集团(CoinGeek支付标记化竞赛的合作伙伴)的首席执行官吉米·阮(Jimmy Nguyen),评论道:

“我们一直相信中本聪创建的比特币原始协议,该协议包含了比特币现金(BCH)成为新货币并启用高级编程功能所需的一切。Tokenized团队已证明中本聪愿景的有效性。他们充分利用比特币基本元素,提供了一个在技术层面上集优雅和全方位商业友好于一身的系统。此系统优于任何已发布的比特币现金(BCH)代币解决方案。我们的技术审核团队对此感到印象深刻。”

CoinGeek创始人卡尔文·艾尔进一步阐述道:“这就是为什么比特币现金(BCH)协议开发者,如Bitcoin ABC,不应该将试验性更改强加在比特币原始设计上。原始的中本聪协议已有世界所需的一切。我们只需要将其恢复,让其保持稳定和大规模扩容。这就是为什么我一再敦促世界上所有的比特币矿工运用这个比特币现金(BCH)的全新比特币SV全节点实现方式,并支持中本聪愿景。”

Tokenized团队的协议攥写者詹姆斯·博尔丁发表评论:

“我们团队就成为CoinGeek竞赛的获胜者感到十分荣幸。我们一致相信比特币现金BCH。比特币现金(BCH)网络如今功能齐全,是唯一可扩容至服务地球上每个人的分布式分类帐技术。我们的Tokenized系统旨在将比特币现金(BCH)原生技术的全部属性运用在实现智能合约与代币上。我相信在不久的将来几乎所有在比特币现金(BCH)网络上的资产都会被标记化。我们已经创造了Tokenized解决方案以支持在比特币现金(BCH)上完成的全球扩容和代币多样化。”

若想了解更多关于Tokenized解决方案,请参加将于11月27日至11月30日在伦敦举办的CoinGeek周大会。詹姆斯·博尔丁将就Tokenized发表演讲,整个Tokenized团队也将出席。另外,马上(免费)加入bComm协会

CoinGeek相信比特币现金(BCH)生态系统将能从越来越多的代币解决方案受益,并最终推动中本聪愿景。因为,CoinGeek将继续开展其支付标记化竞赛,期待颁出100万英镑的二级奖励。详情将在数日后发布于CoinGeek.com的竞赛页面。

关于Tokenized项目

Tokenized白皮书、协议规范和智能合约代码将于11月中旬发布供公众预览。如果您想了解更多以及获得相关消息,请访问https://tokenized.cash/并进行注册。您也可以在Tokenized Telegram频道上加入Tokenized团队:

Tokenized团队:

詹姆斯·博尔丁(推特: @JamesBelding)
塞缪尔·乔治斯(推特: @daftspunk)
斯科特·巴尔(推特: @scottjbarr)
法里德·乌登
布伦丹·李 (推特: @coinstorageguru)

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

The post CoinGeek宣布“Tokenized”项目为比特币现金BCH代币解决方案的500万英镑竞赛赢家 appeared first on Coingeek.

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CoinGeek announces “Tokenized” Project as winner of £5M contest for Bitcoin BCH Token Solution

31 October 2018 – CoinGeek is pleased to announce a winner in its £5 million contest to find the leading tokenisation solution for the Bitcoin BCH blockchain. The winning project is “Tokenized,” an on-chain token system designed exclusively for the BCH network and proudly using the original “Satoshi Vision” design of Bitcoin. The Tokenized team is James Belding, Samuel Georges, Scott Barr, Farid Uddeen, and Brendan Lee – from the Brisbane, Australia area.

Tokenized combines capabilities of the existing BCH protocol with a standard open-source smart contract that is lower cost, more expressive, and more secure than any other system today. With Tokenized, it is now possible for anyone in the world to create and operate their own smart contract on the BCH network using customizable terms and conditions. They can then use the smart contract to facilitate the issuance, management, and exchange of tokens that represent real-world assets.

The Tokenized protocol enables creation and exchange of many kinds of useful tokens, including:

financial assets, such as common and preferred stock, fixed-rate bonds, floating-rate notes, futures, forwards, swaps, options, exotic derivatives, currencies, asset-backed securities, collateralized debt obligations;

tickets for movies, events, air travel, transportation, and other activities

credit and point systems (coupons, loyalty points, carbon credits, memberships);

licenses.

Tokenized is unique in its focus on helping companies deal with real-world legal compliance issues. Real businesses want to abide by laws applicable to their tokens (such as securities regulations), and most investors and customers also want the protection of a legally compliant system. This principle is at the core of the Tokenized design, which provides token issuers with the ability to follow any set of laws or regulations from any agency, state or country in the world. It also provides tools for token issuers to enable enforcement of laws applicable to their token, and governance features for organizations to carry out a variety of votes (shareholder votes, referendums, etc.), all on-chain.

CoinGeek founder Calvin Ayre declares:

“With Bitcoin BCH ready to massively scale, we have all been waiting for token solutions to ignite rapid growth in BCH usage. The Tokenized solution enables tokenization of so many kinds of assets that it will spark a Cambrian explosion of useful tokens for businesses in all industries and even more applications on BCH. CoinGeek is thrilled to honor Tokenized as our contest winner, and support the project’s on-going work to show the full power of BCH.”

The Tokenized system proves in several ways that the original “Satoshi Vision” of Bitcoin works. It uses technical features already existing within the BCH protocol, such as metadata through OP_return; it does not require any new OP_codes or other protocol changes. It is an on-chain solution and does not create a separate token layer (unlike the controversial Wormhole protocol supported by Bitmain Technologies). Furthermore, Tokenized does not require burning BCH coins to create tokens (again, unlike Wormhole), which disturbs the Bitcoin system’s economic incentives and security.

Jimmy Nguyen, CEO of nChain Group (CoinGeek’s partner on the tokenisation contest), comments:

“We have always believed the original Bitcoin protocol, as created by Satoshi Nakamoto, contains everything needed for BCH to become the new money and enable advanced programmable functions. The Tokenized team proved that Satoshi Vision works. Our technical review team was impressed by how they used foundational elements in Bitcoin to deliver a technically elegant, comprehensive business-friendly system which is superior to other published BCH token solutions.”

CoinGeek founder Calvin Ayre further observed: “This is exactly why BCH protocol developers, such as Bitcoin ABC, should not be adding experimental changes to Bitcoin’s original design. The original Satoshi protocol already has everything the world needs. We just need to simply restore it, keep it stable, and let it massively scale. That’s why I urge all Bitcoin miners of the world to run the new Bitcoin SV full node implementation of BCH and support Satoshi Vision.”

James Belding, the protocol author for the Tokenized team, remarks:

“Our team is honoured to be selected as the CoinGeek contest winner because we all believe in Bitcoin BCH. The BCH network is now fully featured and is the only distributed ledger technology that can scale to serve every person on the planet. Our Tokenized system has been designed to harness the full properties of BCH’s native technology for smart contracts and tokens. I believe it is only a matter of time before nearly every asset is tokenized on the BCH network, and we have created our Tokenized solution to support the global scale and diversity of tokens that can done on BCH.”

To learn more about the Tokenized solution, come to the CoinGeek Week Conference in London on November 27-30. James Belding will be speaking about Tokenized, and the entire Tokenized team will be attending. Also, join the (free) bComm Association.

CoinGeek believes the BCH ecosystem can benefit from even more token solutions that advance the Satoshi Vision. Therefore, CoinGeek will keep its tokenisation contest open with a secondary award of £1 million available.  Further details will be posted on CoinGeek.com’s contest page in the coming days.

ABOUT THE TOKENIZED PROJECT

The Tokenized open-source white paper, protocol specification and smart contract code will be released for public preview in November. If you’d like to learn more and receive updates, please visit https://tokenized.cash/ and register your interest. You can also join the Tokenized team on the Tokenized Telegram channel.

Tokenized Team:
James Belding (Twitter: @JamesBelding)
Samuel Georges (Twitter: @daftspunk)
Scott Barr (Twitter: @scottjbarr)
Farid Uddeen
Brendan Lee (Twitter: @coinstorageguru)

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

The post CoinGeek announces “Tokenized” Project as winner of £5M contest for Bitcoin BCH Token Solution appeared first on Coingeek.

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