TAGES CEO Leyla Arsan has participated as a panelist to “The Tokenization” Session during the “Blockchain Summit” which was organized on October 23, 2020 as part of the Istanbul Blockchain School Project and broadcasted live on Habitat Association’s Youtube channel.
The summit was arranged in partnership with the Turkish Capital Markets Association and Habitat Association. A special session was organized by Istanbul Blockchain Women Association within the event with the subject of “Tokenization” The founding member of the association Ebru Güven started to her speech by emphasizing the goals of the Istanbul Blockchain Women Association. Güven said that the association was formed with the aim of supporting, increasing and raising awareness of women’s presence in the blockchain ecosystem and continued: “We aim to sign much more inclusive projects under the association. When the Istanbul Blockchain School invited us to this panel, we saw that it would be useful for us to discuss the issues within the framework of ‘tokenization’. The reason we chose this topic is because blockchain technology has begun to shape the future. Financial instruments are the focus of this. The transformation of blockchain technology to traditional financial and capital market instruments is on the center of tokenization. I also want to emphasize that tokenization has become the most important tool for sustainable development. We have started to see examples of this in Europe. We see that the infrastructure is now being developed to enable the digital purchase and sale of all kinds of assets, from real estates to artworks.”
Istanbul Blockchain Women founders Gökçe Philips, Leyla Arsan and Çağla Gül Şenkardeşler discussed the changing economy within the framework of ‘tokenization’ and the details of the investment forms that can be made for the future. Istanbul Blockchain Women founding member Başak Burcu Yiğit moderated the summit and opened it with a fundamental question: ‘What is a Token?’
Gökçe Philips, CEO of Projesium started speaking about token types and continued: “There are 3 types of token. These are ‘payment token’, ‘security token’ and ‘utility token’. Payment token was specifically created to use as a payment tool like money. We know that PayPal announced that it now accepts payments in crypto. Utility token assets used within a closed platform to benefit from a service. It can be used to receive a service within the platform, but those assets cannot be used outside that platform. Security tokens are created to be a share of an asset’s shares or profits. Therefore, security tokens are the closest to the concept we call tokenization in this context.”
Speaking of examples of tokenization and tokens, Philips explained that real asset rights are represented by digital tokens via blockchain and continued; “Assets such as real estates, artworks or IP rights are represented by small tokens in a blockchain environment. By its shortest definition, everything that has economic value can be tokenized and take its place in the blockchain economy.”
Another striking topic in tokenization is sustainability and moderator Başak Burcu Yiğit mentioned the Plastic Twist platform, which collects tokenization and sustainability titles under the same place. Leyla Arsan, CEO of TAGES, who is the partner of the project began to her speech by addressing the concept of “value”, which is an important point of the project, and continued: “Everything you tokenize is a digital asset, and doing so you increase its value. At this point, we need to define the value. PlasticTwist project was funded by the European Commission Horizon2020 Program and ended last year and now we are realizing it as a platform. We have been working on it for nearly 3 years. The aim of the platform is to revalue the plastic by incentivizing it for the reuse of plastic. Virgin plastic is very cheap and worthless, but it is used a lot. We thought of a system that would revalue the plastic by reducing the plastic waste. This system operates through a blockchain infrastructure. What we’re tokenizing is actually plastic. We provide tokens for projects and products that allow plastic reuse. Nowadays, we are busy for cooperating with many institutions on this issue.”
Menapay CEO Çağla Gül Şenkardeş shared the tokenization solutions offered by MenaPAY and gave examples that she likes in this field. She described tokenization as a revolutionary and creative process, and continued; “When we consider the token economy holistically, I think tokenization is part of that. MenaPAY Super App holistically delivers to users tokenizing different services on blockchain. Tokenized versions of very different digital assets continue to be traded. You have options such as buying tokenized assets, selling them, or keeping them in your wallet within the app.”
You can click the link and watch the recording on our Youtube channel.