Factory Business Tokenization Service
Factories are getting closer to blockchain technology and tokenization, the benefits that it offers range from simplifying many process areas, strategic sourcing, product quality verification, to adding transactions in the supply chain, relying on a general account book distributed, supplier monitoring, traceability, etc.
The tokenization of these industries allows you to tokenize some elements that we can find in enterprises that manufacture machinery, packaging, plastic products, industrial products, food, chemical supplies, cars, etc. Even some companies implement AI and Virtual Reality or Augmented Reality.
Tokenization will help facilitate the purchase with your customers; through a token they can do the shopping of a product instead of using FIAT money. The benefit also results for their clients when using this token, since they would be getting in the world of cryptocurrencies and blockchain.
How does tokenization help in factories?
Besides helping the customer purchase process, tokenization improves the tracking and tracing of the product through traceability and blockchainization, the factory will have a digital record of all the elements, raw materials, parts or products within a secure blockchain.
It also confirms that a product is of quality without the uncertainty of being falsified by having a unique database of each product; each transaction or modification will be recorded.
The payment methods can be through a token that the manufacturer launches, this token, according to its owner, can be found on the same company platform, in wallets or platforms such as Coin base, Binance, etc.
Benefits of tokenization
- Liquidity: Private securities do not usually have cash flow, so by changing any asset from your factory into a token you ensure greater liquidity, solving secondary market problems in trading.
- Transparency: This is a unique attribute of the blockchain, because at the end of a transaction it cannot be reversed or modified, guaranteeing that they are carried out in less than 5 seconds, allowing users to monitor their data and ensuring the authenticity of the transactions.
- Fast transactions: Transactions are low cost thanks to the blockchains and their consensus algorithms, ensuring a high performance and low fees.
Tokenization is being applied in several industries, not only in factories, this is a good strategy to generate income and give reliability to your clients, so if you want to develop your blockchain project or tokenize digital assets, you can consult with experts in blockchain.