Brands Need to Emit Own Tokens
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The skyrocketing values of various cryptocurrencies are increasing the interest of individuals as well as businesses to join the crypto craze. Bitcoin, Ethereum, and Ripple have shown impressive returns. The innovative use of blockchain technology by various companies has made cross border payments easier, smoother, and faster. This is why many large banks, financial institutions, and government regulators are adopting this blockchain technology for secure and reliable cross border payments. Most cryptocurrencies take start by issuing tokens and distributing these through Initial Coin Offerings (ICO’s).
TokensOne of the most interesting facts about tokens is that these represent assets in their original form. They are created and traded with the help of blockchain technology because these reside at the top of blockchains. Anyone can easily create his own tokens because there is no need to modify the codes of a particular protocol. The users can create these tokens through templates already present on a blockchain network. Hero.org can help you a lot in creating tokens that are distributed to the public though Initial Coin Offering (ICO’s).
Why Top Brands Would Want to Issue Tokens?Although anyone can issue tokens, top brands have particular interests in issuing these. There are various reasons behind the involvement of top brands in it. Some of the important reasons behind this are:
1. Earn More ProfitsThe very first and the most important reason behind this emission of tokens by top brands is the maximization of profits. This is because the cryptocurrencies showed many bullish signs in 2016 and 2017. Especially, the surge in the values of various cryptocurrencies in December has increased the profit of companies a lot. Some of crypto founders and investors became billionaires. Thus, top companies are issuing their own tokens to earn more profits over the time. Most of the digital currencies showed an increase of more than 5000% in 2017 with Ripple XRP at the top with an increase of 36000%. The value of many currencies even doubled within short periods. As a result, many individuals and businesses doubled their profits.
2. Liquidity of CryptocurrenciesThe next reason behind this issuance of tokens by top brands is the liquidity of cryptocurrencies. In simple words, we can say that the companies can easily see and track their profit margins through these tokens and ICO’s. Also, the companies can easily pull profits through their ICO’s. They only need to convert their cryptocurrency profits into some digital currency. This digital currency can then be traded at various crypto exchanges as well as can be converted into fiat currency through various dealers.
3. Security, Reliability, and TransparencyAnother reason for issuing tokens by top brands is that transactions take place securely and transparently. There is no third party or intermediary involved in these transactions. Only the seller and the buyer know the amount of transaction and the status of the transaction. Thus, big brands issue more tokens to grow their customer database due to transparent and reliable transactions.
4. Advertising and Targeting AudienceA very good reason for issuing tokens by top brands is advertising the brand to the public. Top brands think on how to target audience to maximize the buyers of the brand and earn more profits. Crypto world is becoming more famous with every passing day. Top brands are taking it as a way to advertise their businesses and products to target markets and maximize profits.
5. Cost EffectivenessLast but not least many top brands issue tokens because they can trade these tokens in a cost effective way. Since the trading of tokens and ICO’s takes place through blockchain technology, no intermediary is involved in these transactions and this decreases the cost of trading. No need to pay 3% to Visa and MasterCard.
In conclusion, we can easily say that top brands issue their own tokens because of these and many other similar reasons. We can expect that with the increasing value of digital assets the governments may issue some regulations for monitoring the flow of funds in any form.
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