The "Tokenise Europe 2025" initiative, founded by the European Commission and the Association of German Banks (BdB), in collaboration with over 20 European financial service providers and industrial companies, published a paper regarding the importance of the tokenization for Europe. Evonik was the only German chemical company that made a significant contribution based on the practical experience using tokenized commercial bank money.
The initiative highlights the benefits of tokenization and its importance for the competitiveness of the European economy. To strengthen Europe's position in tokenization, concerted steps have been identified for governments, central banks, commercial banks, corporates and individuals.
The advantages at a glance:
1) Tokenization is a key success factor for the competitiveness of the European economy
2) Technology establishes the basis for innovative services and new business models
3) Tokenization enables seamless and efficient processes along the entire value chain
4) While reducing complexity, tokenization leads to more transparency, security and trust