TOKENIZATION PLATFORM

Fecha de publicación: --
Fuente: Wipo "digitalization"
A method for facilitating transactions using a cryptographic ledger is disclosed. The method includes receiving a request to tokenize a defined amount of currency on behalf of an entity. The method includes verifying that the amount of currency has been locked in an off-chain account such that the entity is unable to transfer the defined amount of currency from the account and generating a cryptographic token in accordance with the tokenization protocol that represents the defined amount of currency. The method includes associating the cryptographic token with a first ledger account of the entity such that the entity can transfer the token via the cryptographic ledger while the defined amount of currency remains locked. The method includes receiving a redemption request from a second account of a redeeming entity, burning the cryptographic token, and initiating transfer of the defined amount of currency to an off-chain account of the redeeming entity.