Tokenization is the future, according to financial stewards like the International Monetary Fund and the Bank for International Settlements. They’re mistaken. Separate reports on the future of the monetary system were released last week by the Bank for International Settlements (BIS), a super-governmental central banking organisation, and the International Monetary Fund (IMF), a United Nations organisation that serves as a global lender of last resort. Both reports discussed the possibilities for tokenization and addressed cryptocurrencies and central bank digital currency (CBDCs).

 According to the IMF and the BIS, tokenization refers to the practise of trading claims on programmable platforms. Those claims will most likely be expressed as tokens if a blockchain is involved. Tokens are more than just electronic records in a database. Instead, they combine the logic and rules regulating the asset transfer process with the records of the underlying asset that are typically stored in a traditional database.

You must first open an account with a reputable cryptocurrency exchange before you can begin investing and trading in Bitcoin. In India, a cryptocurrency exchange is a form of exchange where Bitcoin and other cryptocurrencies can be traded. Buy Bitcoin in India with BuyUcoin in less than 10 minutes and kickstart your crypto portfolio.