The mission of the EEA Token Taxonomy Initiative is to develop a clear definition and scope of the token concept, including use cases, taxonomy and terminology, and a specification.
Power of TokensTokens will disrupt global economics and radically change how commerce will be transacted. While various implementations exist for tokens for specific blockchain platforms, the industry is currently lacking a venue for all participants to collaborate on a shared description and approach, resulting in a lack of interoperability, reuse, and common ground to address regulatory issues. The mission of the Token Taxonomy Initiative is to create this venue and develop a clear definition and scope of the token concept, including use cases, taxonomy and terminology, and a specification neutral to underlying technology.
Token Taxonomy Initiative Join the EEA as We Redefine Tokens
Working together towards a simple token model that is blockchain neutral
Join us in developing a framework that will make understanding and creating new token types accessible to anyone.
Help Define the Token Taxonomy Building off a baseline framework, members of the Token Taxonomy Initiative will develop a clear definition and scope of the token concept and framework that:
• Educates and clearly defines a token in non-technical and cross industry terms
• Establishes a common set of terms and definitions for use by business and technical participants
• Creates a Token Classification Hierarchy (TCH) that is simple to understand, organize, and navigate
• Decomposes tokens into parts to power a framework for mixing and matching, driving reuse and innovation
Get Involved Today
You can join the Token Taxonomy Initiative at any time. Contact us at [email protected] or (703) 507-3543 and help bring Token-Powered Blockchain to the enterprise.
TokenDefinition
TokenClass
Instances
Classification Hierarchy Example
Template
InventoryClass
LoyaltyClass
Token forBarrel of Oil
Token forWidget SKU
Airline PointsToken
t – TransferableAbility to transfer ownership of the token. Basic fungible behavior when using cash money, but also applies to non-fungible tokens.t' – Non-TransferableRestriction of preventing a change of ownership from the initial issued owner. A vote token for an election or an airline ticket are examples.d – Sub-dividable or d' – WholeDecimal places a token can be subdivided into. s – SingletonThere can only be a quantity of one, where the token class represents the only instrument. Like a piece of fine art.m – Mint-ableAbility to issue new tokens of the class. Creating a new property deed or adding money to the overall supply.r – Role SupportAbility to have roles defined within the class to allow or prevent certain actions.b – BurnableAbility to remove tokens from the supply. A token representing a barrel of oil that gets burned when it is refined is a good example.
