The digital twin of a sardine. Crazy idea or an early sign of a new trend?
17 Mai 2019 Nico Wauters cofounder/CEO of T-Mining
Yesterday, I bumped at the Vivatech show in Paris an excellent illustration of the possibilities of tokenization. The Luxembourgish startup #mysardines.com will tokenize their sardine cans. For every purchased can of sardines, you will get a token on the public blockchain that is linked to your wallet/blockchain account. As this delicacy gets better by aging, this company stores the can for you as long as you want. In case you don't like sardines, you can sell and transfer the token via Ethereum. The new owner can claim the can and have it shipped to him/her immediately or after many years as the ideal time for consumption is after 12 years. This illustrates how tokens can be used to represent utility assets corresponding with real-world assets. Blockchain is used to register and transfer ownership on top of recording the history of a can. Consensus guarantees that this data trail is immutable and that ownership cannot be falsified.
Replace sardine with any valuable asset, eg a ship, a car, a container, a crane and you understand the value of tracking digital twins. Even more, if during the lifecycle of the asset you enrich the digital twin with data as location, temperature, or have all documents or certifications that are linked to this asset made available for entitled parties, you can Imagine the amount of admin overhead this can save.