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How to tokenize your business? 
How to tokenize your business? 

How to tokenize your business? 

The term “tokenization” is getting increasingly popular nowadays, especially among entrepreneurs. Growing inflation caused by the post-pandemic crisis forces entities to avoid such institutions as banks or investment funds as they slowly lose their trust.

Companies are searching for another solution. One is tokenization, a form of digitization based on blockchain technology.

What does it mean to tokenize?

Business tokenization is a powerful tool. It is a form of transforming the company’s values into digital content. The process is said to be one of the greatest global trends among the supporters of new technologies.

Tokenization is strongly linked with blockchain, the implementation of business reality, and token issuance. Even though those terms may sound a little strange initially, it is a solution worth considering.

What needs to be done?

Preliminary analysis is the first thing to deal with while the tokenization process. Specify the needs (both financial and strategic), and determine the prospects of your business.

Think of your business products and discuss their potential with blockchain experts. Identify the target audience, and analyze the competition precisely. At the early stage of the process, a lot of thinking needs to be done, but if the strategy is well considered, it is highly possible to succeed.

The choice of issuance type

A lot of solutions are available when it comes to token issuance. Its emission means larger income control within the company. One of the possibilities is ICO which stands for Initial Coin Offering.

It is one of the most popular methods of raising capital in the form of cryptocurrencies and tokens. However, it does not guarantee any ownership rights to the buyer. In this case, tokens are usually based on real assets.

STO (Security Token Offering) is another possibility. It is said to be a safer alternative to ICO because it secures the purchaser through legal solutions.

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Tokenization process

An entrepreneur who decides to tokenization should take some actions to give the token issuance individual traits. Firstly, he should develop an AML procedure that prevents money laundering and a KYC (Know Your Customer) procedure that concerns the clients’ identification.

Secondly, the company should also make an official report in which the entrepreneur analyses the technological and legal aspects of the products or services and describes the project and its plans. The report is called whitepaper and is necessary to start the tokenization process.

The process itself requires dedicated technological solutions. Usually, the entrepreneur creates a website where investors can buy tokens.

Get professional assistance.

It is surely a time-consuming and exhausting process. On the way to successful tokenization, there are many challenges and obstacles that might require professional help.

If you need any advice on token issuance or whitepaper document or have problems with further choices, do not hesitate to hire assistance that will help to tailor your needs.

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About Stephan Monetize.info

Stephan J is the founder of Monetize.info and is making a living exclusively online since 2004. He tried and managed to make good profits on everything from Forex trading, options, website flipping, adsense, affiliate websites.His passions are cycling, fitness and he is spending a small fortune on watches and fine cigars

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