A Switzerland-based company says its goal is to empower enterprises with the tools they need to use blockchain in a sustainable way.
CoreLedger’s token economy operating system (TEOS) has enjoyed success stories with real-world applications. One of them is Smartmo — a startup manufacturing and operating innovative solutions for bike parking and helmet storage. The added value that Smartmo brings to the biking ecosystem is that users can reserve a parking space in advance. It also provides increased safety, especially for expensive bikes such as E-Bikes.
Crypto is integrated into the system in that users pay parking fees in digital tokens. Every interaction with the system is done using a specially created app or a nationwide public transportation card.
Smartmo’s token technology was built on CoreLedger’s TEOS. Additionally, Smartmo initiated the creation of a new funding model known as a “continuous coin offering,” featuring two separate tokens. This will let Smartmo roll out its product across Switzerland and beyond when the first such offering will take place at the beginning of next year. A recent partnership has also been forged with Swiss Federal Railways to install these bicycle parking facilities at six of the nation’s train stations at pilot phase.
Based in Liechtenstein and Switzerland, CoreLedger is launching its TEOS infrastructure on the Ethereum mainnet this month.
CoreLedger’s focus is ensuring that its technology can be easily used without any barriers to entry — creating a web of value that connects the world to one marketplace and ensures “everyone can exchange anything, anytime, from anywhere.”
TEOS is designed to deliver the benefits of blockchain without the technical hassle that all too often delays how fast a product gets to market. The decentralized, modular and extensible infrastructure is built for use by any business — enabling it to document, tokenize and trade any products or services. It also comes with an optional compliance feature. A global digital asset directory provides detailed asset information, hashed and time-stamped on blockchain.
CoreLedger says data and smart contract functions can be executed 25/7, independently of its company. WARP is another piece of technology that has been developed in-house by the company. It is a tool that searches and matches assets, boosting transaction efficiency by closing trade sequences simultaneously with multiple parties.
CoreLedger’s other products include a white-label marketplace that enables enterprises to create their own adaptable public or private ecosystem at low cost. This platform is ready to use and inexpensively provided on a subscription basis — delivering a “fast, reliable plug-and-play solution for many business models.”
CoreLedger has been motivated to act by the “prohibitively expensive and time consuming” process that businesses face if they wish to develop a blockchain-based solution internally. According to the company, building the infrastructure required to support the whole tokenization process — and enforcing Know Your Customer (KYC) checks and legal compliance — poses a big challenge for enterprises seeking to embrace blockchain and improve their business performance.
Another compelling use case for TEOS saw a local company develop a blockchain-based mobile game to commemorate Lichtenstein’s 300th anniversary — a product designed to educate players about the small country’s history and culture. The game invites players to collect 300 digital cards — each adorned with a famous resident, historical event or iconic landmark — by purchasing packages and scanning QR codes dotted nationwide. The magic of CoreLedger’s blockchain technology comes when a player has duplicate cards, as the platform’s WARP system can scour the digital assets in the network in order to make a trade sequence for a card they do not have.
According to CoreLedger, using TEOS, companies can rapidly prototype, scale up and capture market opportunities.
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