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
Token Taxonomy InitiativeWorking together to develop a token model that is blockchain neutral
and creates a universal and simple language to define Tokens
Join us in developing a framework that will make understanding and creating new token types accessible to anyone.
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.
Base
Fungible Non-Fungible
Sub-Dividable
Whole Transferable Non-Transferable
Variable Inventory
Fixed Inventory
Variable Inventory
Fixed Inventory
Title Deed Sub-Dividable
Singleton
VoteFiat Currency
ICO SKU Stock Loyalty Bond Art Composites
Get Involved TodayTo learn more about the Token Taxonomy Initiative contact us at [email protected] or call us at +1 (703) 507-3543
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.
The Token Taxonomy Initiative will introduce a TTF logo and Certification Testing Program to validate any solution claiming to conform to the TTF. Any use of the TTF logo requires a TTI membership in good standing.
