15 April, 2019
The European Union’s blockchain forum has released a report outlining the importance of blockchain, artificial intelligence (AI), and the Internet of Things (IoT) as technologies of the future. Compiled by Dr. Tim Weingärtner of the Lucerne University of Applied Sciences & Arts, the report describes the recent explosive development of the digital world, with the megatrends of blockchain, AI, and IoT merging into a broader digital transformation worldwide.
As Dr. Weingärtner describes it, blockchain technology “plays a fundamental role” in the emerging digital transformation. Serving as a crucial link between the physical and digital world, blockchain converges with AI and IoT in a model that forms “Digital Twins” of objects or even persons from the physical world.
“With its features of trust, distribution and value,” the report states, “blockchain makes it possible to identify and connect physical objects and their digital representations.” And as the world becomes more and more digital every day, these Digital Twins are increasingly becoming an integral aspect of changing global industries.
The report further details tokenization and its major role in the worldwide digital transformation. By allowing algorithms and smart contracts to access physical objects – and increasing transparency in tracking ownership and supply chains – tokenization is a crucial tool in the fight against corruption, theft, and fraud.
As stated in the report, trust will take on a whole new meaning with blockchain: “trust in content, trust in identity, trust in ownership, trust in authenticity, and trust in truth.” At Veritoken Global, we see this as the most important value offered by the technology. That’s why we’re using blockchain and tokenization to bring trust back into areas as diverse as human resources and job recruitment, online dating, and global supply chain management.
Within the blockchain framework, tokens “embody the aspect of identity and value in the protocol,” the report says. Additionally, the report points to Ethereum as the “preferred choice” for tokenization – which is the standard under which we operate at Veritoken Global.
In fact, we’re proud to say we just launched our own security token offering (STO) last week, which will remain open to U.S.-based accredited investors until July 3rd, 2019.
To learn more about the Veritoken project or to support us on our journey toward revolutionizing the data industry, check out our home page. You can also read all the technical details in our white paper here, or simply peruse the Veritoken Bill of Rights to find out what we stand for.