Cloudchain wants creating blockchain tokens to be as barrier-free and blazing fast as possible
August 28, 2020
Cloudchain has launched its minting platform that gives anyone the ability to create custom crypto tokens or assets in seconds. For developers and businesses, this means the ability to create and integrate next-generation blockchain assets into games, apps, loyalty and rewards, and a whole multitude of use cases.
Cloudchain is a full cycle blockchain platform combining the best of this generation’s fintech functionalities with the incredible benefits presented by next generation’s blockchain technologies.
“We’re building the foundation for a richer set of blockchain services and offering a comprehensive picture of a financial ecosystem that has everything. Our minting platform enables anyone to design, issue, and manage a wide range of assets that cover much more than just crypto-payments,” says Cloudchain Director, Jack Ponce-Enrile. “Our mission is to break down the barriers to adoption and allow the creation of custom, next-generation blockchain assets that pave the way for a token economy.”
The tokenization of assets refers to the process of issuing a blockchain token that digitally represents a real-life tradable asset. A new “token economy” offers the potential for a more efficient and fair financial world by greatly reducing the friction involved in the creation, buying, and selling of digital assets. With Cloudchain, tokens co-exist in a user-friendly ecosystem. They’re easy to swap and transfer which significantly increases engagement value.
Going beyond cryptocurrencies, Cloudchain-minted tokens can represent anything the creator chooses during the minting process. These could be bonds, documents, licenses or certificates, real estate assets, loyalty points, original artwork, penalties, rewards, events, or reserved tickets—the potential applications are currently only limited by the imagination.
Once created in the minting platform, the new tokens will be accessible and available for selection on Cloudchain’s universal wallet CloudWallet.ai, where users will have the ability to select their primary token securely during signup.
This new generation of customizable tokens offer unlimited potential. A promising use case would be in the form of loyalty programs. Cloudchain’s blockchain-enabled system benefits loyalty rewards program providers and their customers in multiple ways. Tokenization of loyalty points makes them unique, traceable, as well as fraud-proof to a large extent. Customers can enjoy managing multiple membership programs in a single wallet platform and near-real-time credit of rewards points, making them readily redeemable.
For example, a chain of restaurants can mint and name their own token and use it to reward loyal customers, with tokens being exchangeable or redeemable in-store. Alternatively, the tokens could be used to incentivize staff, rewarding work perks to high performing employees.
This flexibility also opens up opportunities for consumer peer-to-peer token use, which can empower people in developing economies through the creation of small, decentralized marketplaces amongst local groups of connected individuals.
Cloudchain foresees tokenization unlocking possibilities that could make the financial industry more accessible, cheaper, faster, and easier for everyone. Its scalable solution completes token transactions in milliseconds, and can be used freely by exchanges, wallet providers, and other projects looking to join the ecosystem.
“We imagine a world where consumers, enterprises, and governments can issue unique, un-forgeable assets in an interconnected mesh of blockchains complying with the same token standards. Cloudchain connects a disconnected world, enabling a frictionless system that can facilitate a veritable explosion of tokens to work together seamlessly in a single platform,” says Ponce-Enrile.