When Business
Meets Tokenization


When Business Meets Tokenization

Money is probably the best example of tokenization in history. It has stood in as a representation of value for so long, that value itself is now seen in terms of its currency figure. So it’s no surprise that Tokenization has emerged as a highly effective measure to secure sensitive data - both financial and personal - from cyber attacks. Hence, the dramatic rise of tokenization is being fueled by estimates that losses due to cybercrime will grow by an alarming 15% per year, to reach an annual figure of $10.5 trillion USD globally, by 2025.

In fact, the economic impact of cybercrime would make it the world's third-largest economy after the U.S. and China. No fewer than 45% of all global organizations are expected to be negatively impacted by a supply chain attack in the next two years, according to a Gartner report.

Tokenization equates to built-in and assured data security

By using Tokenization, your business can attract many more online customers, once they are assured that their financial details will not be compromised by transacting with you. Acting as a 'stand-in' for sensitive data with a unique character string, Tokenization can't be linked back to the information it represents. Only authorized parties, with access to kеys that are saved separately from the token itself, can verify the link between the two.

The benefits of taking this approach - apart from the impregnable security - also include that it can be added to legacy databases and systems at a much lower price than encryption. This single innovation virtually eliminates any risk associated with storing credit card details on e-commerce platforms or digital wallets - as in the case of India's revolutionary UPI system of transactions.

Tokenization to ensure regulatory compliance

While your chartered accountant or legal team may be on top of any compliance requirements your business needs to adhere to, cross-border transactions can get a little challenging to monitor for even the most adept experts. Your business can access a much wider set of markets and buyers, through Tokenized transactions.

Tokenization of data as well as both tangible and intangible assets dramatically reduces the inherent security risk of any transactions involving them, using Blockchain technology. Individuals, companies, and financial institutions are all able to streamline such cross-border transactions, if the exchange of information underpinning their interaction, is Tokenized.

Tokenization as a means to monetize data

We are all acutely aware of how our data is monetized by the companies and corporations whose products and services we use on a daily basis. However, Tokenization can actually flip this dynamic, by allowing individuals and entities to turn their own data into an income source - all while also making it more private and secure. Your business can leverage this by becoming an early adopter of this model, to pass on this facility to your clients as an incentive and to enhance your customer loyalty and outreach.

Legacy data management systems also make it highly cumbersome and costly, to link micro-transactions and each customer choice, to their particular profile. Tokenization of customer data can help you automate personalization of the services you provide, without compromising customer privacy – a best of both worlds scenario that many more of your clientele are likely to get onboard with.

Tokenization to Fortify Trust

As a Blockchain-As-A-Service (BAAS) platform Qila helps your business adopt Blockchain and crypto technologies to secure your business needs by minting non-fungible tokens, for real-world physical or digital assets, on a private Blockchain network.

Our ARK and ARK+ platforms offer easy and hassle-free Blockchain onboarding. Our PrivaSea wallet is an unimpeachable source of authenticated data, while our GoTrust App can help customers save all their critical data and information in a certifiable and trustworthy NFT format, in a single wallet.

In this brave new world of endless possibilities, let Qila help your business unlock the next level of growth, using Blockchain.

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Qila offers an end-to-end solution for automobile companies to take advantage of tokenization using Blockchain technology

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