Description
The new Web3 technologies offer considerable potential for companies in all sectors. In order to exploit this potential, the creative options of the new technology must be systematically explored and requirements such as quality and legal certainty must be met when putting them into practice. This requires precise definitions and classifications for tokenization.
After most extensive legal frameworks have been established, lately with Regulation (EU) 2023/1114, it is very surprising that there is still no precise definition of “tokens”. From a business and application-oriented perspective, the academic field is dominated by computer scientists and the treatment in business and management theory is falling behind.
This concept paper examines the relevant differentiation criteria of tokens and creates precise token definitions and classes.
