Rabobank facilitates first bank account for project 2Tokens
Important step in public support for innovative digital assets
Amsterdam, October 7, 2020 - Rabobank facilitates a bank account to the 2Tokens Foundation, making it the first Dutch bank to offer public support for the token as a digital asset. The foundation brings an educational platform about tokenization and teaches companies the benefits of tokenization.
The TWO utility token can be used to buy a partnership, giving direct access to all (online) events, use cases, and other information produced/developed by the 2Tokens Foundation. This way, partners support the educational objective of the project and enable future roundtables and specialist knowledge sessions with experts in the field, whilst experiencing how tokenization works themselves. Anyone in possession of a Dutch bank account can buy a partnership, and thus TWO tokens, through iDeal.
The realisation of the TWO utility token is a joint effort of CMS, 2Tokens, DataFloq, Dusk Network, Rabobank, WatsonLaw and YesDelft! After successfully designing the TWO utility token Dusk Network is now involved, together with Dutch Blockchain Coalition, in supporting the Dutch Central Bank in their digital euro design (CBDC).
"The 2Tokens Foundation has created a practical case with the TWO use case to show companies and institutions that the innovative technology can be implemented in multiple ways. This makes it possible for us as a foundation to actively involve partners in 2Tokens and to involve them closely in the progress. The recognition of the Rabobank by means of a bank account is an important victory in order to be able to convince several parties of the advantages of tokenization" - said Alex Bausch, chairman of the 2Tokens Foundation.
Token infrastructure made on Dusk Network technology
Dusk Network facilitates the technology and infrastructure for the TWO utility token. One of the reasons for choosing Dusk Network is the privacy-friendly technology. With this example, the foundation shows that within the current regulatory landscape it is already possible to create meaningful tokens. Dusk Network has been working since 2018 to create a privacy blockchain (DLT) for financial applications and works closely with partners such as 2Tokens, Firm24 and InterWork Alliance, the alliance for companies involved in token issuance.
Jelle Pol, board member of 2Tokens and Dusk Network Business Lead: "The 2Tokens project shows the added value of tokenization and makes the financing of products and services more efficient, simple and transparent. The TWO project complies with the standardisation for tokenization and the cooperation with IWA is an opportunity for a faster international deployment of tokenization."
Rabobank: Tokenization allows for new possibilities for both tangible and intangible assets assets
“As Rabobank we see a wide range of applications for tokenization. You could for example divide a real estate object or a start-up in really small pieces. With this innovative form of micro-investment, you could for example actually be the owning multiple small pieces of agricultural real estate starting at a young age.” – Djuri Baars, Lead Blockchain Team at Rabobank explains.
Virtual closing event on October 8th
The project will be wrapped up with a virtal closing event on Thursday October 8th. Everyone who is interested can participate by registering at 2Tokens-website. During this event several use cases for tokenization will be presented next to the activities of the 2Tokens foundation.
The 2Tokens project highlights the path to Tokenizering in the Netherlands. The completion of the project is a clear roadmap for realising value from tokens for the BV Netherlands. The goal is to create unequivocal funding for tokens. That is why we are a public organisation supported by a diverse community, consisting of technology companies, policymakers, financial advisors, banks, and legal experts and academics. The project is sponsored by the European Union and is a collaboration between Blocklab (Port of Rotterdam), YES! Delft (Incubator, Delft University of Technology), and LIFT-OFF (Open Data Economy) with the support of Erasmus University Rotterdam, Techleap, the government, and various industry players. The ambition of 2Tokens is to create awareness in society, to stimulate relevant discussions, and to bring together knowledge/expertise in order to reduce the barriers to tokenisation and realise the social benefits.
For more information: 2tokens.org
About Dusk Network
Dusk Network is the privacy blockchain for financial applications. A new standard for compliance, control and collaboration. Its mission is to enable any size enterprise to collaborate at scale, meet compliance requirements and ensure that personal and transaction data remains confidential. Companies use the Dusk Network blockchain to issue tokens, trade and collaborate via smart contracts.
Rabobank is a cooperative bank. In the Netherlands, almost ninety local Rabobanks operate with a high degree of independence in order to better serve the client and the local environment. Rabobank also has an extensive international banking business. The international banking business focuses on international business.
For more information: www.rabobank.com
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About Dusk Network
Dusk Network is an open source and enterprise-grade platform for the financial sector. Dusk Network is used to create tokenized representations of assets and securities. It uniquely offers fast and confidential transactions on a global ledger that is provably safe.