James Jung — “Need for enterprise blockchain token apart from pre-existing cryptocurrencies” to help companies’ financial cost reduction · private ecosystem foundation
The expansion of a public blockchain platform Ethereum has created new business opportunities. According to a report named, ‘What’s different about Enterprise Blockchain (EB)’ by a South Korean business researcher of Posco, “companies enhance their business model using EB to start new businesses”. Widely known, Gartner views the market size of EB will exceed $ 3.1trillion by 2030. Samsung SDS, KT, and other Korean firms provide their own enterprise platforms.
Using cryptocurrency in advance within an EB will drive the level of its application, apart from its basic features like ‘pubic ledger’. On July 18th at B. Makers “All About Enterprise Blockchain”, James claimed, “Unlike other cryptocurrencies like Bitcoin and Ethereum, each token serves its unique features within EB”.
Network Token (NT) is a stable value trade measure in an EB ecosystem; it is only available for use in a designated EB ecosystem for value trading. Thus, NT will not be listed on exchanges like Bitcoin, which is widely bought and used around the world.
James explained, Network Token will extend the function of Enterprise Blockchain. He stated, “A company can reduce its financial cost using Enterprise Network Token — if the tokens are used for member rewards, the company may avoid cost for creating original member rewards”. “NT allows every company to generate its own dominant ecosystem”.
Moreover, James mentioned that “NT can collaborate with other cryptocurrencies once it possesses intrinsic values of compatibility — it can also expand the size of its own ecosystem”. “There will be a system that allows an interchange between pre-existing cryptocurrencies and enterprise tokens”.
[Originally written in Decenter: 정상호 델리오 대표 “기업용 블록체인에 네트워크 토큰 더하면 활용성 커진다” by Reporter Park Hyunyoung (firstname.lastname@example.org) July 18, 2019, [https://decenter.sedaily.com/NewsView/1VLQQ3DDCB]
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