Money20/20: Addressing Interoperability Issues in the Tokenization Industry

Tokenization is gaining momentum and is poised to transform the securities market. “There are multiple levels—network, token format, and data within the tokens,” Clausse stated.

He claimed that the tokenization industry needs common networks and the same standards of adoption. These standards should stem from top-down consensus among industry players and practical, real-world applications.

Addressing these layers is essential for seamless operation. Both speakers mentioned examples of following industry standards, such as the tokenizing of small-scale renewable energy projects by Swift—which can now be financed and managed more efficiently and transparently.

They emphasized the need for industry collaboration and urged the crypto industry as a whole to address interoperability challenges. “There are multiple standards now,” Clausse said.

“So everybody is trying to work with unique standards.”

Leave a Reply

Your email address will not be published. Required fields are marked *