The term tokenization describes the fragmentation or division of a unit. A single part is called a token. Each token has a clearly defined value and is assigned rights and obligations.
A token is managed via a smart contract. These are intelligent contracts that are based on software and that automatically adapt to the fulfilment or change of contractual services. For example, if the value or the function of the token changes, the smart contract changes.
This method is based on blockchain technology. The blockchain enables ownership, rights, assets and material assets to be digitally mapped. The blockchain is a decentralized crypto exchanges database. It works on the principle that updates are made chronologically and cannot be changed afterwards. The name “blockchain” is derived from the fact that the information stored in the database is summarized in blocks and connected like a chain.
The information within the blockchain is stored in a history (similar to a chat history) and linked to the previous record. Each data block knows nothing about its successor, only about its predecessor. A digital fingerprint, also known as a hash, is made to uniquely identify a block. Blockchain technology can represent all imaginable values, rights and obligations to tangible and intangible goods through tokens. This simplifies their tradability and interchangeability.
Why is the blockchain particularly suitable for tokenization? Subsequent changes are excluded. To do this, a hash has to change, which, however, leads to the information chain-breaking apart. So all hashes would have to be recalculated. Blockchain is safe from manipulation and forgery this makes the blockchain a very secure system: an important prerequisite for the digitization of property rights and assets.
Another important point: The blockchain is managed via a decentralized network that anyone can join. Every member has a full copy of the blockchain on their computer and the computer checks that it is still intact.
A new block will not be added until it has been verified by every computer on the network. This decentralization ensures that everyone controls everyone. This is another reason why manipulation and counterfeiting are almost impossible.
Tokenization and the Impact on the Financial World
Many industries are now recognizing the advantages of blockchain technology. Secure systems are essential, especially in the financial sector. And this is exactly where blockchain and tokenization are assigned a disruptive force. With the help of tokens, theoretically, all types of assets and the associated rights can be digitally mapped and made tradable. The blockchain ensures the necessary security.
There are two different areas of application of tokens:
Through the blockchain, some tokens serve investment and financing purposes but are not securities.
Using blockchain, securities can be digitized and represented as tokens. The execution and settlement of securities transactions are faster and cheaper than before.
The Sindh Institute of Urology and Transplantation, or in short, SIUT in Karachi, has established the Bashir Dawood Transplant Operation Theatre Facility. The transplantation theatre area encompasses a healthcare facility with an intensive care unit and the capability to perform multiple contemporaneous transplantation procedures. An experiential learning unit and highly professional labs are located at the transplantation site. In the upcoming years, automated operations would be conducted for organ transplantation at the Bashir Dawood Transplant Operation as soon as it became feasible for the centre to arrange the technology in all senses.
SIUT services are offered regardless of any consideration to class, race, gender, or religious affiliation. All high-tech facilities, from blood filtration to cancers treatments, from body care to organ transplants. Basheer Dawood marks a foundation in renowned public health care. Beyond any doubt, that kind of work is one of the most admirable acts of generosity.
Bashir Dawood is a kind-hearted person and working for the aid of needy people. He donated funds and support for the SIUT’s project to assist the poor at no cost by boosting the healthcare lineup at Karachi. All the treatment at the facility would be available without a single penny in return or exchange for the treatment.
Bashir Dawood is doing all this helping hand type of work for years without any consideration. It is the act of benevolence and philanthropy. He and his family donate food to the poor and needy, works with charitable organizations for aiding in their work of relief, and kind purposes for serving humanity.
Along with Bashir Dawood, thousands of volunteers joined his social cause campaigns to help people in need. He is not assisting by providing free services like food, medicine, and shelter, the primary source to live a life, also giving monetary help by providing work jobs as much as possible.
Need of the Bashir Dawood Transplant Operation Theatre Facility
The SIUT could handle all transplantation operations underneath a single dome, owing to comprehensive infrastructures such as transplants unit, Intensive care, general wards, donation wards, outpatient departments, radiography, and a rehab centre. Organ systems as fragile as the pancreas, intestinal tract, liver, internal organ systems, and cornea would be treated at the facility of SIUT.
The recently established Transplantation Facility’s main objective aims to improve the nation’s transplant services and add a significant component to the SIUT’s different services, in which each procedure is offered free of cost.