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HACERA and the IWA Present a Blockchain Research Institute White Paper on the Token Taxonomy

HACERA and the IWA Present a Blockchain Research Institute White Paper on the Token Taxonomy

Don Tapscott, the president of The Blockchain Research Institute releases a fantastic White Paper on the Token Taxonomy, the InterWork Alliance – highlighting The Need for Open-Source Standards Around Digital Assets.

The IWA is an ongoing, collaborative effort of enabling business people with domain-specific expertise to define and model how their industries best perform, regardless of the underlying infrastructure.

Jonathan Levi,
CEO of HACERA & Chair of the TTF at the IWA

Idea in brief

  • Digital assets, sometimes called tokens, are poorly understood. That may be why they are used to describe a variety of things, some of which are contradictory. We know that they are important, but we need greater concurrence on what they are and how we define them in terms of code.
     
  • The InterWork Alliance (IWA) is a new standardization effort championed by a who’s who of enterprise blockchain, from Accenture to Web3 Labs.1 It will help unify our understanding of the token economy without sacrificing the decentralization that makes it so powerful.
     
  • The IWA’s Token Taxonomy Framework (TTF) is a first-principles model for understanding tokens. It starts with token types and progresses to token properties, with a goal of enabling anyone — technologist, businessperson, or regulator — to understand what is happening and how to take part in token projects.
     
  • Standardization requires a commitment to collaborating with competitors, stewarding shared creations faithfully, and developing certification programs that make it easier for users to detect fakes and harder for unscrupulous designers to claim the use of standards while deviating from those standards.
     
  • The benefits of shared token standards are many: increased ease of use, improved interoperability, easier communication, and faster and more secure development of the token projects that we’d like to see in the world.

Our chain-agnostic approach allows businesses to focus on how to best define, treat, or exchange digital assets without worrying about potential limitations of a single blockchain framework.

Jonathan Levi,
CEO of HACERA & Chair of the TTF at the IWA