The TrustToken Platform aims to be a protocol to tokenize and transact on real- world assets on blockchains in a legally enforceable, fully accounted and collateralized way. Specifically, it is a proprietary legal and technical framework utilized to tokenize various real-world currencies and assets. Potential areas that can be tokenized are assets such as real estate, patents, media, copyrights, sports teams, collectible art, and commodities like gold and oil.
TrustToken is a company based in the United States that provides the technology and maintains the TrustToken platform and its underlying stable coins.
The TrustToken Platform is broken into following components:
- SmartTrust – legal contract that designates the asset ownership and custody to a smart contract on a blockchain
- TrustMarket – marketplace where “clients can hire fiduciaries who interface with legal-financial institutions and are legally bound to manage assets as instructed by the smart ”
- TrustProtocol – “protocol specifications that specify how smart contracts can direct fiduciaries”
- TrustVault – decentralized storage system that is auditable
- TrustToken – “platform’s incentive layer to reward trustworthy behavior, create an audit trail, and collateralize property”
TrustToken has already completed a significant amount of work to date.
Q3 2017 – Complete SmartTrust platform, SmartTrust platform launch, Start development for TrustProtocol
Q4 2017 – Establish partnerships with banks and exchanges, continue to develop TrustProtocol, Pre-sale fundraising for TrustToken protocol (which TrueUSD is built on top of)
Q1 2018 – Launch support for wire transfer purchases/redemptions, Deploy TrueUSD smart contract, Launch TrueUSD for traders and institutions (alpha)
Q3 2018 – Launch TrueUSD beta for public
TrustTokens are integral to the protocol as the:
- incentive mechanism to reward positive and trustworthy behavior, which is of vital when dealing with an asset whose value is backed by a true
- audit trail for transparency and trust among token holders and potential investors
- collateralizing mechanism for the underlying property